Both companies, along with three others, were suspended in 2010 on grounds of irregularities.
Construction will commence in 2011-12 and be completed in three years. TCS is the second IT firm to set up such a facility after Bengaluru-based Infosys Technologies inaugurated its campus in Mysore last year.
Plans over $1 bn equity sale to fund group buyouts.
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66.
Tata Consultancy Services has become the second-largest insurance business process outsourcing provider in the UK, after winning two deals worth 250 million pound (around Rs1,800 crore).
Kotak Mahindra Bank was the biggest loser in the Sensex pack, sliding 2.68 per cent, followed by Tech Mahindra, Mahindra & Mahindra, Axis Bank, Hindustan Unilever, Tata Motors, Tata Consultancy Services, Bajaj Finserv, Bajaj Finance, Nestle and Titan. In contrast, NTPC, Power Grid, Larsen & Toubro, HDFC, Reliance and HDFC Bank were the gainers.
TCS chief executive officer (CEO) N Chandrasekaran earned a total of about Rs 18.68 crore in the 2013-14 fiscal.
Tata Consultancy Services, India's largest information technology services company, says visa rejections have gone up significantly compared to a few years ago.
Natarajan Chandrasekaran (called Chandra by colleagues and friends) will take over as the managing director and chief executive officer from Ramadorai on October 6.
Since a week ago, better-than-expected results from Infosys Limited, Tata Consultancy Services Limited and HCL Technologies Limited sparked a 13 per cent rally in the sector subindex that grinded to a halt on Friday.
Despite wage hikes, an appreciating rupee, and fewer working days nibbling at their profit margins during the quarter ended December 31, 2007, the five IT majors Tata Consultancy Services (TCS), Infosys Technologies, Wipro, Satyam Computer Services and HCL Technologies posted revenue and net profit figures that were in line with market expectations.
The country's largest information technology exporter, Tata Consultancy Services (TCS), which currently derives about 27 per cent of its revenues from Europe, says though European companies lag behind their counterparts in the US in terms of outlook, Europe still is their priority.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
Old economy companies such as Hero, M&M (Tech Mahindra), Aditya Birla, Essar, Hindujas and Larsen & Toubro have sprung into action with large acquisitions and major deals.
TCS's chief operating officer and executive director, N Chandrasekaran, tells Shivani Shinde he'll focus on cost efficiency.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
Expanding its presence in the US, India's IT major Tata Consultancy Services (TCS) has opened a new facility here which was welcomed by the US lawmakers and the Californian government.
The TEWS was envisioned as a national importance e-governance project by the Union Ministry of Earth Sciences after the 2004 tsunami disaster.
The company, which reported a moderate performance in the third quarter of FY09, had earlier indicated that it could resort to such a step. India's largest software exporter Tata Consultancy Services said on Thursday that it planned to review the variable component of employees' salaries every quarter in an attempt to cut costs.
Major IT firms such as Tata Consultancy Services, HCL Technologies, Infosys, Cyient, and L&T Technology Services have direct exposure to Boeing or its suppliers' ecosystem, which comprises engine manufacturers, body suppliers, and avionics providers. These firms provide services like application development, testing, engineering, avionics, and business process management for the Boeing 737 Max programme.
The domestic IT major Tata Consultancy Services said that its major expansion would henceforth take place within the notified Special Economic Zones in the country. TCS is setting up its largest global operating unit to accommodate 20,000 professionals in Rajiv Gandhi Infotech Park at Hinjewadi, Pune, a notified SEZ. Maharashtra Chief Minister Vilasrao Deshmukh on Wednesday laid the foundation-stone for the facility, which will become operational by December 2009.
Two Tata-controlled companies -- Tata Consultancy Services and CMC -- have been selected by the government to make the ministry of company affairs paperless through a project that would earn them a revenue of Rs 314 crore.
Tata Consultancy Services and State Bank of India on Monday launched a joint venture to provide advanced technology solutions and world-class domain consulting for the banking and financial services sector.
IT major Tata Consultancy Services plans to hire 37,000 professionals for its domestic and overseas markets through campus placements in the next fiscal.
IT major Tata Consultancy Services plans to hire 37,000 professionals for its domestic and overseas markets through campus placements in the next fiscal.
With revenues of $13.4 billion for FY14, Tata Consultancy Services (TCS) has managed to deliver consistent growth for both the fourth quarter and the full year.
Tata Consultancy Services on Monday said China's Hua Xia Bank has selected its core banking solution of Financial Network Services to facilitate the bank's technology-powered business transformation.
"We are seeing an uptick. There is a lot more clarity and certainty about projects and decision cycles. I'm quite positive and companies are wanting to adopt technologies and are making decisions," TCS chief executive officer and managing director N Chandrasekaran said on the sidelines of World Economic Forum on India in Gurgaon.
Reflecting lack of enthusiasm about the SEZs, 20 more promoters have sought additional time from the government for implementing their projects, taking the number of developers seeking extension to over 200.
As part of the commercial deal, the council's IT department will collaborate with TCS to integrate and rationalise its back office IT systems.
Professional services firm Ernst & Young bagged the contract from UIDAI to become consulting partner for the project.
The company has been able to help clients to transform their business and beat cost during the slowdown.
Wipro, Satyam join TCS, Infosys in beating rupee blues.
A slowdown in the global economy and sub-prime crisis in the banking, financial and insurance services sector, its major revenue earners, force the domestic IT industry to take a relook at its hiring strategy.
Four of the 10 most valued domestic firms together added a whopping Rs 231,320.37 crore in market valuation last week, with market heavyweight Reliance Industries contributing the most to the overall gains. Last week, the Sensex jumped 884.57 points or 1.61 per cent. While TCS, Infosys and ICICI Bank were the other gainers from the top-10 pack, HDFC Bank, HUL, LIC, SBI, HDFC and Bharti Airtel faced erosion from their market valuation.
Slide in the rupee, surging oil prices, and rising bond yields have triggered the latest fall in the market.
The data centre would enhance the infrastructure required to consolidated the state level applications and would be interoperable with the existing infrastructure, TCS said in a filing to the Bombay Stock Exchange.
The move will induce more transparency and simultaneously rearticulate the company's brand strategy with an estimated Rs 50 crore (Rs 500 million) annual campaign.
Private sector has continued to look at outsourcing and offshoring, despite government's measures.
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