Moody's Investors Service on Wednesday affirmed the ratings of two major Indian IT services companies, Tata Consultancy Services Limited (TCS) and Infosys. In two separate statements, Moody's also retained stable outlook for both the companies. Moody's expects Infosys' revenues to climb by around 13 per cent for the financial year ending March 31, 2023, but moderate to around 8 per cent in the next 2024 fiscal.
While understanding the challenges of the group, the Tata Sons chairman has taken quite a few tough decisions in his first year in office.
This is largely on the back of Tata Steel's expansion at Kalinganagar, as well as JLR's in China and Brazil
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
AirAsia India on Monday moved closer to getting off the ground by appointing S Ramadorai as its Chairman, ending months-long suspense and having in place the entire top management team.
Nine of the top-10 most valued companies together lost a whopping Rs 309,178.44 crore in market valuation last week as selloffs continued. In a holiday-shortened past week, the 30-share BSE Sensex plummeted 1,836.95 points or 3.11 per cent amid geopolitical tensions, global sell-off triggered by a hawkish US Federal Reserve and unabated foreign fund outflows. From the top-10 list, State Bank of India was the lone gainer as its valuation jumped Rs 18,340.07 crore to reach Rs 467,069.54 crore.
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.
'What did we get out of this agitation? Nothing... Now we feel it was all a mistake. We have no work, and our land has turned infertile. We are living in abject poverty'
TCS has acquired Singapore Airlines' 51 per cent stake in Aviation Software Development Consultancy India Ltd for Rs 14.02 crore.
The market capitalisation of Reliance Industries plummeted by Rs 43,491.37 crore to reach Rs 17,26,714.05 crore.
Equity benchmarks continued their winning momentum for the third day on Thursday and jumped over 1.50 per cent, tracking an overall bullish trend in Asian equities. On the political front, the BJP headed for a second straight win in politically crucial Uttar Pradesh and dominated the trends chart in three other states. The 30-share BSE benchmark Sensex opened in the green and further zoomed 1,595.14 points or 2.91 per cent to 56,242.47 during early trade.
Larsen & Toubro, Hindustan Unilever, Infosys, Tata Consultancy and Sun Pharma -- have made it to the list
'Cyrus was always very different. He would think before acting.'
With the addition of these two directors, the total Board strength of the company increases to 14 which include seven independent directors, including O P Bhatt, Tata Consultancy Services said.
'Companies are coming to the campuses, and we have companies booking their slots for the placement season, but the overall number of companies signing is low, and the hiring numbers are also lower.'
Top gainers in the Sensex pack included Ultratech Cement, TCS, HCL Tech, Infosys, HDFC Bank and Sun Pharma.
Reliance ADAG, Tech Mahindra among top recruiters at IIM-A
IT giant Tata Consultancy Services (TCS) on Tuesday slipped to fourth position in the list of the country's most valued companies, below Reliance Industries, ONGC and Coal India Ltd.
For IT services companies, ESG (environmental, social, and corporate governance) metrics are becoming a crucial component in winning deals as clients are considering sustainability a top priority and are keen to work with partners who are on the same page. "Sustainability is becoming an important part of the client's evaluation. "There is a tremendous focus across the world on sustainability, and it is becoming one of the top five business priorities.
Analysts say Tatas could sustain their current pace of growth, provided the group's "cash cows", such as TCS and Tata Motors, continue to deliver.
BSE benchmark Sensex plummeted over 388 points to close at 58,576.37 on Tuesday, tracking weakness in index majors Wipro, RIL and Bharti Airtel amid a weak trend in global markets. Investors also remained cautious ahead of crucial macroeconomic data announcements -- industrial production for February and inflation rate for March -- post trading hours. The Sensex declined 388.20 points or 0.66 per cent to settle at 58,576.37. During the day, the benchmark tanked 666 points or 1.12 per cent to 58,298.57.
While industry leaders Tata Consultancy Services and Wipro have announced deferring wage-hike plans, other players such as Infosys and HCL Technologies are expected to follow suit, according to industry insiders.
India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
The Times Top 50 Employers for Women recognizes organisations that are spearheading gender equality in the workplace.
For Tata Consultancy Services (TCS) - India's largest and the world's second-largest IT services provider - the attrition rate touched an all-time high of 17.4 per cent in Q4FY22. The management, following the announcement of the Q4 results, has warned that the attrition situation could become even worse before any improvement. According to analysts, the short term, the attrition rate at TCS could even touch 20 per cent.
In the second quarter, attrition for the IT firm hit an all-time low of 8.9 per cent, a fall of 120 basis points on quarter-on-quarter basis.
Together with its share buyback worth Rs 16,000 crore completed in January this year, TCS shareholders will receive a record Rs 30,250 crore from their company in FY21.
The hiring scenario is for the batch that passes out in 2024. These are graduates who will be impacted, given 2022 graduates are not fully absorbed and 2023 onboarding still incomplete.
The Top Employers certification is awarded to a select group of employers.
The company was recognised as an exceptional performer across six core human resources areas -- primary conditions, secondary benefits, working conditions, training, career development and company culture.
Information technology giant Tata Consultancy Services and financial services major HDFC have been named as India's two best managed companies in an annual poll conducted by Finance Asia magazine.
Who will replace Chandra at TCS if moves to Tata Sons?
At the end of last quarter, Tata Sons held 144,34,51,698 total shares or 73.75 per cent stake in TCS, out of which 7,95,00,000 shares were pledged.
Equity market capitalisation dropped to a seven-month low in February, with the top 10 companies losing a whopping Rs 3,33,307.62 crore in market valuation last week. The total equity market capitalisation (m-cap) in February 2022 stood at Rs 2,49,97,053.39 crore. The previous low was in July 2021, when the m-cap of BSE-listed companies was at Rs 2,35,49,748.9 crore. In January, the m-cap stood at Rs 2,64,41,207.18 crore.
The largest car maker in the country Maruti Udyog has got the third highest number of votes on the index, says the global consultancy firm TNS' latest Corporate Reputation Index.
Tata Consultancy Services (TCS), India's largest information technology services firm, has decided to revise the monthly salary of Chief Executive Officer (CEO) and Managing Director N Chandrasekaran by half to Rs 15 lakh.
While Tata Consultancy Services, HUL, ITC and Infosys saw a rise in their market capitalisation (m-cap) for the week ended Friday, RIL, HDFC Bank, HDFC, Maruti Suzuki India, SBI and Kotak Mahindra Bank suffered losses.
To begin with, there would be the immediate integration of various technology stacks. This would create more business for global consulting and IT services entities such as KPMG, PwC, EY, Accenture and IBM, among others. Indian service providers - Infosys, Tata Consultancy Services (TCS), and Wipro, for instance - would also cash in.
The senior Tata Group executive's appointment as NSDC chairman raises the vital question of conflict of interest
Nine of the top-10 most valued domestic companies together added a whopping Rs 2,22,591.01 crore in market valuation last week, with heavyweights RIL, TCS and HDFC twins gaining the most. During the last week, the BSE benchmark Sensex rallied 1,690.88 points or 3.21 per cent. The index reached its all-time high of 54,717.24 on August 5. Barring Bajaj Finance, rest nine companies -- Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever Ltd (HUL), ICICI Bank, HDFC, State Bank of India and Kotak Mahindra Bank -- logged gains.
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