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.
However, the company has not revealed the financial details of the deal.
Buoyed by the presence of a number of reputed engineering and technical educational institutions in and around the city and the availability of a vast talent pool, Tata Consultancy Services, is targeting Coimbatore.
Benchmark equity index Sensex and Nifty gave up early gains and ended lower on Monday as investor sentiment was hit due to unabated foreign fund outflows and losses in index heavyweights Reliance Industries and HDFC Bank. The 30-share BSE Sensex declined 168.21 points or 0.28 per cent to settle at 60,092.97 as 15 of its constituents dropped. The barometer opened higher and touched a high of 60,586.77 in morning session. Later in the day, it fell 297.35 points or 0.49 per cent to 59,963.83.
Earlier this week, MCA had asked rival Tata Consultancy Services for temporary assistance to resolve glitches related to the electronic filing system MCA 21 -- currently being implemented by Infosys.
The US had initiated investigation against Infosys and its larger rival Tata Consultancy Services (TCS) for possible violations of H-1B visa rules in June.
State Bank of India partnered GE Capital in 1998 for its credit card business.
S Ramadorai, chief executive officer and managing director, Tata Consultancy Services, was conferred the Business India Businessman of the Year 2004 Award.
TCS is aiming to add another $10 billion to its turnover in the next five years or so. Which means, the company has to grow at a compounded annual growth rate of 15 per cent. Can TCS pull it off?
TCS will deliver application maintenance and support services to Chrysler. The IT services initiative will encompass a portion of the functional areas within Chrysler such as sales and marketing and shared services.
The early-bird results for the April-June quarter of 2024 (Q1FY25) hint at a slowdown in corporate revenues and profits in FY25. Corporate profits might face headwinds from a continued revenue growth slowdown and a reversal in margin gains from lower commodity and energy prices in FY24. The combined net profit (adjusted for exceptional gains and losses) of the 210 companies that have declared their Q1FY25 results so far is down 4.2 per cent from the year-ago period - their worst showing in seven quarters.
