'I am confident that TCS's best years are ahead,' outgoing CEO tells staff in farewell email.
India's largest IT services firm Tata Consultancy Services (TCS) on Friday reported a 5.2 per cent year-on-year rise in consolidated net profit to Rs 9,478 crore for the first quarter ended June 30. The consolidated revenue from operations increased 16.2 per cent year-on-year to Rs 52,758 crore in the first quarter of FY23. TCS has declared an interim dividend of Rs 8 per equity share of Re 1 each.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
Does India's most valued company give hope to its investors that they, too, might drive a Jaguar some day?
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
In 2019-20, Gopinathan had received a total remuneration of Rs 13.3 crore. According to TCS' annual report for 2020-21, Gopinathan received Rs 1.27 crore in salary, Rs 2.09 crore in benefits, perquisites and allowances, and Rs 17 crore in commission. TCS chief operating officer N Ganapathy Subramaniam drew a pay package of about Rs 16.1 crore in the last financial year. This includes Rs 1.21 crore in salary, Rs 1.88 crore in benefits, perquisites and allowances, and Rs 13 crore in commission.
Corporate India reported high double-digit growth in net profit for the fourth consecutive quarter in October-December 2023 (Q3FY24), driven by margin gains from lower prices of raw material and energy.
'The Budget needs to focus more on social welfare schemes.'
A number of private companies have contributed to the development of ISRO's Chandrayaan-3 spacecraft which successfully landed near the south pole of the Moon on Wednesday evening.
In a surprise move, Niira Radia, owner and promoter of Vaishnavi Group which has the mandate from Tata Group and Mukesh Ambani-led Reliance Industries Ltd, has announced her exit from the business of communication consultancy.
Large Indian IT services companies are expected to report "muted" sequential show in a traditionally strong second quarter, as macroeconomic challenges continue to weigh on global discretionary spending, say market watchers. The big earnings week for tech heavyweights is up ahead, with Tata Consultancy Services (TCS) scheduled to announce its results on October 11, and both Infosys and HCL Technologies on October 12. Wipro is slated to declare its Q2FY24 results next week, on October 18.
'The idea is to align the HR policies and work culture with changing times'.
Small- and mid-size companies where Cyrus was the chairman did better on bourses than large Tata group companies
'While we have done a few thousand kilometres in India, most of the testing and data collection and analysis has been done in the US, Japan and Europe.'
Nine of the 10 most valued firms together added over Rs 2.12 lakh crore in their market valuation last week, with HDFC Bank and TCS emerging as the lead gainers. Last week, the 30-share BSE benchmark jumped 844.68 points or 1.38 per cent. The stock markets were closed on Tuesday for Guru Nanak Jayanti.
ONGC had dethroned Tata Consultancy Services from the pole position in market-valuation charts on Wednesday, but its leadership position proved to be short-lived and it slipped to the second position in today's trading session.
In the list of top-five domestic firms, RIL was placed at the top of the pack followed by TCS, HDFC Bank (Rs 6,50,136.04 crore), HDFC (Rs 3,85,207.96 crore) and HUL (Rs 3,76,545.49 crore).
After Rs 800 million makeover, Bombay House reopened on July 29, 2018. The earlier dull interior with low technology has given way to a lot more colour and vibrancy.
There was virtually no incremental equity investment by Tata Sons during Mistry's first two years
Tata Motors, Titan Company & Tata Steel come in at second, third & fourth slots.
'The impact of CEO transition is fairly even for stocks, with about half (53 per cent) of the events not producing any change in the relative performance of the stock.'
From disbursing Rs 25.11 crore to political parties in 2014-2015, the Tata group is learnt to have contributed Rs about Rs 600 crore towards the 2019 Lok Sabha election.
In a recent letter to TRAI, Reddy claimed the Andhra Pradesh Cable TV Operators Association took these four channels off air due to alleged coercion by the TDP-led government in the state.
Equity benchmark BSE Sensex closed at an all-time high of 62,272.68 on Thursday, tracking a firm trend in global markets after the US Fed minutes indicated a slower pace of rate increase that bolstered investors' sentiment. Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24 per cent to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33.he broader NSE Nifty gained 216.85 points or 1.19 per cent to end at 18,484.10.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
Reliance Industries Limited was leading the chart of the top-10 valued domestic companies, followed by Tata Consultancy Services, HDFC Bank, Infosys, Hindustan Unilever Limited, HDFC, ICICI Bank, Kotak Mahindra Bank, State Bank of India and Bajaj Finance Limited.
On the other hand, the group's two traditional cash cows, TCS and Tata Motors' subsidiary Jaguar Land Rover, are slowing as other businesses pick up pace
India's largest IT services player Tata Consultancy Services (TCS) saw its $2 billion, 10-year deal with Transamerica Life Insurance Company come to an end even before the period was over. Transamerica is the subsidiary of American arm of Dutch insurer Aegon NV. This is not the first time such a long-term deal has been called off. Earlier this year, UK's National Employment Savings Trust (NEST), ended a $1.8-billion deal with French IT services player Atos.
His resignation as chairman of the government's skill development agencies triggered talk that he may be headed back to the Tata Group where a search committee is looking for a full-time chairman.
This is the company's first business process outsourcing centre in the South-East Asia and the latest addition to the company's Global Network Delivery Model, Tata Consultancy Services said in a filing to the Bombay Stock Exchange.
Father of the Indian software industry and the first CEO of Tata Consultancy Services, Faqir Chand Kohli, passed away on Thursday. He was 96 years old.
'China, India and the US will compete and they will collaborate. This is the most important three-way relationship that the world will see,' says TCS Asia head Girija Pande.
Insurer likely to support Ratan Tata; reduction in stake might have been profit booking.
Tata Sons has started the process of due diligence of state-owned Air India and its subsidiary Air India Express. Sources said the group has appointed Bain and Company and Seabury Group for this purpose. Once complete, a financial bid will be submitted and a deal to take over the airline is likely to fructify by end of this year or even earlier, people involved in the process said. Simultaneously, the group has brought in veterans in the aviation business from Delta and United Airlines to prepare a plan for post-merger integration of Air India with its existing airline ventures. Tata Sons operates Vistara - a 51:49 percent joint venture with Singapore Airlines and Air Asia India, in which Tatas hold 83.67 per cent stakes.
Benchmark equity indices Sensex and Nifty closed higher on Friday after two days of fall, helped by buying in metal, telecom and auto stocks amid a firm trend in global markets. Automakers led by Maruti Suzuki India, Hyundai, Mahindra & Mahindra reporting robust wholesales of passenger vehicles and GST collections crossing Rs 1.50 lakh crore for the third straight month in May also added to the optimism. The 30-share BSE Sensex climbed 118.57 points or 0.19 per cent to settle at 62,547.11.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
S Ramadorai has bid farewell to Tata Consultancy Services after being with the organisation for 37 years.
The gauge for the performance of informational technology (IT) stocks soared nearly 5 per cent-most in nearly three years-as growth worries eased following a robust order book posted by bellwether Tata Consultancy Services (TCS). The Nifty IT index rose 4.5 per cent to close at 30,945. This was the biggest single-day gain since September 14, 2020. Industry titan TCS' shares rose 5 per cent to Rs 3,509.
The Street shrugged off a muted first quarter of financial year 2023-24 (Q1FY24) and a cautious near-term outlook by India's largest information technology (IT) services company, Tata Consultancy Services (TCS). The stock was the top Nifty50 and Sensex gainer on Thursday, rising 2.5 per cent, as investors took comfort from a robust order book and an encouraging pipeline. Like its larger peer, HCL Technologies' (HCL Tech), too fell short of the Street's expectations on the revenue and margin fronts given cuts in discretionary expenditure.
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