The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
India must diversify its services trade away from low-cost programming if it is to remain an IT-enabled hub.
The newest CEO in the Tata group brings an aggressive pace and style to India's largest IT consultancy firm.
Besides Florida and Louisiana, the Houston Consulate provides service to Indian community and businesses in Alabama, Arkansas, Georgia, Kansas, Mississippi, Oklahoma and Texas states.
Post Q1 results, the stock rallied 8% compared to 2% rise in S&P BSE Sensex and 4% gain in S&P BSE IT index.
The facility will cater to govt services that require Inpact Level 3 security.
Work should not flow; it should get done, said N Chandrasekaran.
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
Investors' wealth fell by Rs 2.39 lakh crore on Monday in line with a weak trend in the global equity markets. The BSE Sensex tanked 861.25 points or 1.46 per cent to settle at 57,972.62. During the day, it tumbled 1,466.4 points or 2.49 per cent to 57,367.47.
Tatas' best bet would be to find an insider who understands the systems, say headhunters
The company has created eight stacks of related operating units, and the stack heads will report directly to chief executive officer N Chandrasekaran.
The country's second largest employer in the corporate sector has over 300,000 men and women on its roles in 50 countries.
Both firms have broken TCS' streak of industry-leading performance over the past few quarters by posting higher revenue and earnings growth this quarter.
TCS saw its headcount reduced by 6,333. Infosys' headcount decreased by almost 7,500, and HCLTech saw its employee numbers shrink by 2,299.
Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.
The overall momentum is very strong, said the company CEO.
TCS expects the October-December quarter volumes to be lower due to lesser working days.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic market have dented investor sentiments. On Monday, the BSE Sensex dropped 175.58 points or 0.30 per cent to end at 59,288.35 points, marking a decline for seven straight trading sessions.
M&B is partnering with TCS to streamline the management of its HR and Payroll operations.
Tata group firm TCS on Wednesday replaced Mukesh Ambani-led Reliance Industries as the country's most valued company in terms of market capitalisation, as investors rallied behind the shares of the IT giant.
The country's largest information technology (IT) service provider, Tata Consultancy Services (TCS) is all set to expand its footprint in West Bengal, according to state IT minister Partha Chatterjee.
The quarterly results of India's big four IT (information technology) players (HCL, TCS, Infosys and Wipro) have left investors confused, with no clarity on the sector's outlook.
The roll-out of the auto enrollment began in October 2012.
IT industry's two giants present a contrast.
In the quarter ended June 30, the company posted 15.7 per cent growth in net profit at Rs 3,831 crore (Rs 38.31 billion) when compared with the corresponding quarter last year. Revenue rose 21 per cent to Rs 17,987 crore (Rs 179.87 billion).
All the top three major Indian IT firms -- Tata Consultancy Services, Infosys Technologies and Wipro -- either met or beat market and analyst expectations in the quarter ended September 30, 2009, registering their best performance in six quarters.
S Ramadorai, vice-chairman of Tata Consultancy Services (TCS), is set to become non-executive chairman of the Bombay Stock Exchange (BSE) following the exit of Jagdish Capoor last week on health grounds.Ramadorai will join BSE board on Monday and assume the role of chairman later.
India's largest software exporter Tata Consultancy Services has been selected to set up the State Data Centre in Uttar Pradesh for the e-delivery of government services.
If the visa issue ultimately requires certain other considerations at govt level, we will consider that, says Ravi Shankar Prasad
The third-quarter results of information technology (IT) software leaders indicate that the turnaround in the world's developed economies is a rising tide that is lifting virtually all boats.
After startups and Big Tech, the layoff season may have begun at the $245 billion Indian information-technology (IT) industry. Bengaluru-based IT major Wipro is looking to cut hundreds of jobs, targeting mid-level employees working onsite as the company looks to improve margins, according to a media report, citing two sources. The company has said it is aligning its business and talent to the changing market environment.
A recent report by Morgan Stanley Asia Pacific points that 774 listed companies have pledged shares with banks.
TCS, HCL Tech join Infy in reporting improved earnings, are bullish on outlook.
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.
Cognizant jumps 13 ranks to become 4th most valued.
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