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Fear of a recession in the US due to rising unemployment has added to the concerns of India's IT services sector, which was seeing some growth returning after Q1FY25 results. The Nifty IT closed 3.26 per cent down, as major IT services companies' stock value fell. Tata Consultancy Services (TCS), India's largest IT services firm, saw its stock price fall 4 per cent during intraday trading.
As many as 86 per cent of senior business executives have deployed artificial intelligence (AI) to enhance revenue streams or create new ones, said a report by Tata Consultancy Services (TCS) on Wednesday. As many as 69 per cent of businesses are more focused on using AI for innovation and increasing revenue than on improving productivity and optimising cost, said the 'TCS AI for Business Study'.
With a market cap of $60 billion, exceeds Accenture and HP but trails IBM
Company has agreed to pay Rs 160 cr to settle a lawsuit filed by two former employees over unpaid wages.
A $15.2-million contract between a subsidiary of India-based Tata Consultancy Services and an American state agency has been cancelled, falling victim to politics in view of elections in the US next year.
Tata Consultancy Services on Thursday said it will give out one-time bonus to employees that will be cost it Rs 2,628 crore.
Two Tata-controlled companies -- Tata Consultancy Services and CMC -- have been selected by the government to make the ministry of company affairs paperless through a project that would earn them a revenue of Rs 314 crore.
Tata group's IT firm TCS on Monday attained a market valuation of Rs 4 lakh crore - becoming the second company in Indian markets after Reliance Industries to cross this milestone.
It had announced slashing of up to 10,000 jobs globally by the end of 2013.
The 14 listed Tata group companies in which Tata Sons holds a stake are paying out a record Rs 35,441 crore to their shareholders by way of dividends and share buyback for FY21.
TCS' brand value grew 286 per cent from $2.3 billion in 2010 to $9.04 billion in 2016
Reliance Industries lost its position of the country's most valued company to Tata group firm TCS this afternoon, as the shares of billionaire Mukesh Ambani-led corporate giant fell sharply in a weak market.
In dollar terms, TCS' market valuation rose to $84 billion.
TCS, which requires more people to handle its growing business, witnessed an 8.7 per cent annual attrition rate at the end of the second quarter.
Tata Consultancy Services is planning to raise the billing rates by 3 to 5 per cent for existing contracts, which are up for renewal, and for new contracts by 5-10 per cent.
Market regulator SEBI has given clearance to Tatas for the proposed initial public offering of Tata Consultancy Services, that is likely to realise over Rs 5,000 crore (Rs 50 billion).
Information technology solutions and services major Tata Consultancy Services is to open an 'automotive centre of excellence' in Detroit, North America, which is expected to be "fully functional", within the next two months.
Tata Consultancy Services plans to open its third IT centre in China in the current fiscal and increase its headcount five-fold to 5,000 by 2010, a senior official said on Friday.
Campus recruits can also aim to double the existing entry level package by proving their skills through the TCS national qualifier tests.
Tata Consultancy Services America was awarded a $2.5 million Rapid Outreach Grant by the Ohio government to aid businesses growth and job-creation.
India's largest IT firm Tata Consultancy Services (TCS) will not announce a cut in variable pay of its employees this year , despite the company reporting a negative net profit on sequential basis.Last quarter, the company had announced a reduction in its staff variable pay as it did not achieve the internal targets.
Tata Consultancy Services, with exports worth $806.1 million is the largest software exporter during 2001-02, while Celetron India led the race in exports of computer hardware.\n\n\n\n
The Dubai Centre, which earlier supported the capital market customers, is now geared to provide on-call services and any emergency support needed in the region to its core banking customers as well, a company statement said.
'It is not that employee work is not happening if you don't see it.'
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source). While moving the Finance Bill 2023 for consideration and passage in the Lok Sabha on Friday, Finance Minister Nirmala Sitharaman said the Reserve Bank has been asked to look into ways to bring credit card payments on foreign tours under the LRS. "It has been represented that payments for foreign tours through a credit card are not being captured under the Liberalised Remittance Scheme (LRS) and such payments escape tax collection at source (TCS)," she said.
With this, the total strength of TCS's board has increased to 11.
HDFC Bank, Reliance Industries and Housing Development Finance Corporation (HDFC) -- with free-float market cap of over Rs 3 trillion -- have the highest weight in the Sensex and the Nifty.
TCS, which, plans to earn $1 bn in 3-7 years will explore segments such as cyber security, internet of things, analytics of IoT, and cloud application and infrastructure.
Investors lost Rs 24.69 lakh crore in market valuation in the last four days of severe drubbing in the equity market. Spike in global crude prices, unabated foreign fund outflows, a strong US jobs data diminishing early rate cut expectations, and the rupee logging its steepest single-day fall in nearly two years dampened investors' sentiment.
Tata Consultancy Services, the country's biggest software exporter, on Monday said it is eyeing up to 150 deals ranging from $5 million to $200 million in the financial solutions space over the next 12-18 months.
Given the potential for growth, IT major, Tata Consultancy Services, is looking at hiring 8,300 trainees and around 3,000 laterals or experienced persons in Q4 FY10, a senior company official said.
Shares of TCS rose by 2.48 per cent to end the day at Rs 3,195.10 on the BSE, while RIL shares fell by 0.08 per cent to Rs 963.80.
Signalling a return of good times in the information technology (IT) sector, India's largest IT services provider, Tata Consultancy Services (TCS), plans to hire 30,000 employees in the next financial year.
H-1B visa is a non-immigrant visa, which allows US employers to temporarily employ foreign workers in speciality occupations
