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.
After Infosys, the country's largest software services firm Tata Consultancy Services has warned of weaker earnings for the January-March quarter.
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.
The lawsuit filed in 2006 by two of its former employees, Gopi Vedachalam and Kangana Beri, alleges that Tata unjustly enriched itself by requiring all of its non-US-citizen employees to endorse and sign over their federal and state tax refund checks to Tata and by taking unauthorised deductions from employee's paychecks.
Tata Consultancy Services (TCS) will hand out across-the-board salary increments for 2021-22, becoming the first IT services company to do so. The salary hike roll-out will benefit nearly 4.7 lakh employees of the company. The average increment band for offshore employees is expected to be 6-7 per cent as per norms, sources privy to the development told PTI. This would be the second salary hike within six months by TCS.
The Nifty IT has been one of the worst-performing indices on the bourses this calendar year. Rising concerns of a potential global recession, which investors fear can dampen demand for export-facing domestic information technology (IT) giants, have sent the index down over 30 per cent on a year-to-date basis. By comparison, the Nifty50 Index has shed 2.8 per cent during the period, reveals data by ACE Equity.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
The Supreme Court said on Friday the developments that followed the unsavoury incident of slapping of a Muslim schoolboy by his classmates at the behest of their teacher in Uttar Pradesh were the result of the State not doing what was expected of it after the offence was committed.
'We have not seen too many large deals compared to last quarter.'
IT services firms' revenue growth in the fourth quarter will be affected by macro-driven headwinds, lower working-days, and the fact of the three-month period being low season. Analysts are expecting FY24 growth to be muted. Revenue growth will decline 600-700 basis points to 10-12 per cent for FY24, said a CRISIL Ratings report. The 10-12 per cent growth rate is a fall from the 18-20 per cent expected in FY23 and around 19 per cent growth in FY22, the highest in eight years, said the CRISIL Ratings report.
The IT co has over 2,500 employees catering to a strong client base in the country
Industry sources said the lay-off may be part of the deal that Nokia has signed with TCS and HCL Technologies earlier this year.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Snapdeal, which has raised about $400 million since its inception, has invested about $100 million in logistics and operations to expand its presence in the $3 billion Indian eCommerce market.
TCS beat tech giants IBM and Hewlett-Packard to become the fastest growing brand within the IT services sector.
Slide in the rupee, surging oil prices, and rising bond yields have triggered the latest fall in the market.
N Chandrasekaran, managing director and chief executive officer of Tata Consultancy Services, has consistently said he wishes to take the company beyond mature economies such as America and Europe, into emerging markets.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
The company agrees to discussions for long-product division with Swiss group Klesch.
In June alone, Rs 13,000 crore (Rs 130 billion) worth shares were released.
The newest CEO in the Tata group brings an aggressive pace and style to India's largest IT consultancy firm.
In the future of work, companies will have to embrace terms like moonlighting, gig work, flexi work as 'on-demand talent in a Cloud' can be a reality, says Milind Lakkad, chief human resource officer of Tata Consultancy Services (TCS). In some form or the other, gig work, flexiworking - and even moonlighting - will have to be welcomed by companies, says Lakkad. As a first step towards embracing these, TCS is trying to bring all these opportunities for its own employees within the company.
Infosys on Thursday posted a 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore in March quarter of FY23, and gave 4-7 per cent revenue growth forecast for FY24 amid macro economic uncertainities. The net profit (after minority interest) stood at Rs 5,686 crore in the fourth quarter of FY22. Seen sequentially, the net profit for Q4 came in 7 per cent lower.
'With the ease of access, we have seen an increased participation from tier-2, tier-3, and tier-4 cities/towns.'
During the 11 years ending FY15, Tata Sons cumulatively earned dividend income of around Rs 31,500 crore from TCS.
Wipro Chief Executive Officer Thierry Delaporte drew a pay package of $8.7 million (around Rs 64.3 crore) in the financial year 2020-21, according to a regulatory filing. Delaporte's compensation is for the period from July 6, 2020, to March 31, 2021, and includes components such as a one-time cash award, annual stock grant and one-time grant of RSUs (restricted stock units). The former Capgemini executive had joined the Bengaluru-headquartered Wipro as its chief executive officer and managing director on July 6, succeeding Abidali Neemuchwala.
Indian IT companies like Tata Consultancy Services, Infosys, HCL Technologies and others have taken the buyback route to return some wealth to their shareholders, while potentially boosting their stock prices.
Hussain shall hold office as the chairman of the company until a new chairman is appointed in his place
India will not tailor its policies to suit US EV maker Tesla, and its laws and tariff rules will be formulated to attract all-electric vehicle manufacturers from across the world to set up a base in the world's fastest-growing economy, Commerce and Industry Minister Piyush Goyal said. Tesla has been seeking an initial tariff concession that would allow it to offset 70 per cent customs duty for cars priced less than $40,000, and 100 per cent for cars of higher value.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
We have created centres of excellence in areas like user interface design, user experience, cyber security - all the things required to bring the solutions to the market, says N Chandrasekaran.
The early bird results for the January-March quarter of 2022-23 (Q4FY23) show a pick-up in earnings growth, despite a slowdown in revenue growth, thanks to a decline in input costs and lower provisioning for bad loans by banks. The combined net profit of 66 companies that have, so far, declared their quarterly results was up 15.2 per cent year-on-year (YoY) in Q4FY23, an improvement from 4.3 per cent YoY growth in Q3. Net sales growth of these companies, however, slowed down to 11.5 per cent YoY in January-March 2023, the slowest rate in eight quarters.
That such a deal can be greeted with celebration in the camps of both buyer and seller speaks volumes about the airline and its recent history, explains T N Ninan.
Seasonal weakness may result in modest sequential revenue growth for large Indian IT firms in the January-March 2016 quarter, analysts said.
The company, which in the previous quarter announced former Capgemini top executive Thierry Delaporte as its new chief executive officer and managing director, is looking at improving its performance in coming quarters.
"Tata Sons board is meeting tomorrow (Friday) to consider the proposal to bid for Jet Airways," people in the know of the development told PTI.
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