Tata Consultancy Services (TCS) on Thursday said it plans to invest more than $100 million in Austin and hire 1,000 new employees across Texas. TCS has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its over 5,500 employees across the state, TCS said in a statement. The new facility will officially open in late December 2020 and have space for 367 employees, it added.
Despite higher gross additions, growth in overall customer base has been tepid for these companies, says Debasis Mohapatra.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In July-Sept 2016-2017, TCS had missed street expectations with 7.8% growth in revenue.
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
Revenue up 15.8% at Rs 34,261 crore over year-ago period.
Tata Motors, however, will not be able to meet this small demand and keep the Nano alive from October next year, when safety regulations for existing car models kick in.
There was a worry that such a policy would hamper businesses, create resentment among the male staff and perhaps also discourage companies from employing women. However, this has proved to be misplaced.
Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain.
'Despite muted growth in financial services, all other businesses have done well.'
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.
In a letter to the Business School community on Wednesday, Nohria said he will step down from the position of dean of the Harvard Business School (HBS) on June 30, 2020, after a decade in the role.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
Bombay House will be closed for renovation - its first such closure in 93 years
Shares of HCL Tech hit a fresh record high of Rs 1,118.55 on Friday, up 2 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 1,101 touched on Thursday in intra-day deals.
The advent of internet of things, blockchain, data analytics, artificial intelligence, and self-driving cars has also created huge business opportunities for online training platforms such as Udacity and Coursera.
In the last couple of months, top Indian IT services providers, including TCS, Infosys, Wipro and HCL Tech have announced setting up cyber threat management centres in the US and Europe.
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
We have our own problems for sure and they are not trivial, but for now, our economy is in not too bad a shape, our politics is as personality-driven and authoritarian as that of most countries in the world. We must make the best of what we have and not be excessively unhappy looking at the grass on the other side of the septic tank which may not be greener after all!, observes Shreekant Sambrani.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
Shareholders want to know what plans does company have to address the issue
Top losers in the Sensex pack included ICICI Bank, Tata Steel, Vedanta, HDFC IndusInd Bank, Tata Motors, RIL and ONGC -- falling up to 4.45 per cent.
The company has declared a dividend of Rs 7 per share.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
TCS registered revenues at Rs 30,541 crore in the second quarter of 2017-18, up 4.3 per cent from Rs 29,284 crore in the year-ago period.
The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are validations that customers recognise TCS' differentiated capabilities, chief executive officer and managing director Rajesh Gopinathan said.
Hemant Shivsaran lists the number of projects the Modi government has announced since August to woo Gujarat voters.
Reading books will make you curious, build your imagination and nourish your brain into an organic super power.
Tata Motor's owned Jaguar Land Rover (JLR) on Tuesday reported a 68 per cent increase in retail sales for the first quarter ended June 30 at 124,537 units as compared with the same period of the previous fiscal, reflecting the continuing recovery in demand from the COVID 19 pandemic. The company had retailed 74,067 units in the April-June quarter of 2020-21. However, wholesales, in particular, were lower than demand would have permitted due to semiconductor supply issues affecting the global auto industry, JLR noted in a statement.
Campus recruits can also aim to double the existing entry level package by proving their skills through the TCS national qualifier tests.
Six months into his new role, Vishal Wanchoo, president and chief executive officer, GE, South Asia, speaks to Jyoti Mukul about how its horizontal business lines of additives and digital are playing across its verticals.
Customers, instead of visiting showroms, now do most of their decision-making in the comfort of their drawing rooms using internet
Tata Consultancy Services (TCS) has weathered the pandemic very well, and has earned tremendous goodwill from customers, which enhanced the firm's standing in the market, N Chandrasekaran, chairman, said in his virtual address of the 26th Annual General Meeting on Thursday. He said TCS shareholders received over 3,000 per cent return on their investments since the company was listed in 2004.
Tamal Bandyopadhyay details HDFC Bank's digital journey.
Chinese sponsorship became a bone of contention after the BCCI declared it would review the deals following the violent clashes between the armies of both the countries in eastern Ladakh.
While India has close to 80 Starbucks stores in six cities, the plan is to touch 100 this year.
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.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
