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.
Technology firm Wipro has a "high probability" of getting included in the benchmark Sensex, while two-wheeler major Bajaj Auto is the "most likely" deletion candidate, according to an analysis done by Brian Freitas, an analyst at independent research provider Smartkarma. The changes to the index will be announced mid-November, and will become effective from December 17. The December review uses the 6-month average market capitalisation and trading turnover data between May 1 and October 31 to determine changes.
Tata Consultancy Services (TCS) is India's most-valuable brand in 2022 replacing HDFC Bank, which held the number one spot since 2014, according to Kantar BrandZ report on India's most-valuable brands. TCS was able to grab the top slot due to rising global demand for automation and digital transformation, following the pandemic. Indian brands have bounced back from the pandemic to increase their brand value by 35 per cent compound annual growth rate (CAGR) since 2020.
As a part of cost cutting measures to tackle global economic downturn, IT major Tata Consultancy Services (TCS) on Thursday said job cuts are possible and ruled out salary hikes next year.
The company made a net addition of 12,580 employees.
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.
Tata Consultancy Services (TCS) CEO and Managing Director S Ramadorai said that the company would hire computer science PhD students who have graduated from any Indian Institute of Technology (IIT) in the country without any interviews for the next five years.
The data centre will act as a disaster recovery platform.
With prominent Indian IT companies such as Tata Consultancy Services (TCS), Wipro, Infosys Technologies, Zensar Technologies and Satyam Computer Services increasing their presence in Japan, the world's second largest IT services market is becoming a lucrative market for India.
Old economy companies such as Hero, M&M (Tech Mahindra), Aditya Birla, Essar, Hindujas and Larsen & Toubro have sprung into action with large acquisitions and major deals.
India's largest software exporter, Tata Consultancy Services (TCS), says it will see more deals in its infrastructure services (IS) business in the $5-10 million range this year than in the $15-100 million one.
Tata Consultancy Services (TCS) is likely to delay its Rajarhat campus in West Bengal, as part of a string of cost-management initiatives to cope with the pangs of the global meltdown.
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.
Wipro, Satyam join TCS, Infosys in beating rupee blues.
Microsoft Chairman and CEO Satya Nadella along with Alphabet Inc and its subsidiary Google CEO Sundararajan Pichai are also among those from trade and industry who have been awarded the Padma Bhushan for their distinguished services.
Close to 1,500 trainees who will join India's largest information technology services provider, Tata Consultancy Services (TCS), by the end of September, will not be eligible for variable pay till they complete their six-month training period.
In the list of top-five domestic firms, RIL was placed at the top of the pack followed by TCS, HDFC Bank (Rs 6,50,136.04 crore), HDFC (Rs 3,85,207.96 crore) and HUL (Rs 3,76,545.49 crore).
TCS South Africa would have an equity participation from Black Economic Empowerment groups to ensure localisation of services and skills, it said.The company has a centre in Johannesburg from where it provides support services for financial services products implemented in South Africa.
At the same time, seven companies from the coveted list witnessed a decline in their market valuation last week, but their cumulative loss of Rs 37,701.1 crore was less than the total gain made by three firms.
Tata Consultancy Services on Monday announced the results for Q2 FY08. The net profit is up 22.8 per cent at Rs 1252 crore (Rs 12.52 billion).
TCS CEO and MD Rajesh Gopinathan said the company believes the coronavirus impact has "bottomed out" and that TCS should now start tracing its path to growth.
India's largest IT services firm Tata Consultancy Services (TCS) on Wednesday said its shareholders have approved its up to Rs 16,000 crore share buyback plan. Last month, TCS' board of directors had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at Rs 3,000 per scrip for an aggregate amount not exceeding Rs 16,000 crore. "....the members of the company have duly passed the special resolution approving the Buyback," TCS said in a regulatory filing on Wednesday. The voting, which started on October 20 and ended on November 18, saw 99.57 per cent of the votes being cast in favour of the buyback offer.
Revenue of the Mumbai-based firm grew 6.7 per cent in the quarter under review to Rs 39,854 crore from Rs 37,338 crore in the corresponding period of the last fiscal.
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.
Corporate India is more dependent than before on exporters of IT services such as Tata Consultancy Services (TCS), Infosys, and Wipro for earning foreign exchange. Such companies account for nearly 43 per cent of the forex revenues of listed firms, up from 22 per cent a decade ago. The listed IT services companies earned nearly Rs 4.2 trillion through exports in FY22, up 15 per cent from the Rs 3.65 trillion a year earlier. In comparison, the forex revenues or exports of the rest of the BSE500 companies were down 11.9 per cent to Rs 5.6 trillion last financial year.
The 36 India probables were imparted 'Bono' therapy in a bid to enhance creativity and thinking as the skills specific camp began.
Leading Indian and global information technology firms such as Tata Consultancy Services (TCS), Cognizant Technology Solutions, IBM, Satyam Computer Services and Wipro top the list of L visa users for the financial year 2006-07.
Revenue of the Mumbai-based firm grew 18.5 per cent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal.
Plans over $1 bn equity sale to fund group buyouts.
India's largest IT-ITeS company, Tata Consultancy Services (TCS), is all set to launch its smart card solution that would enable banks to reach the remote areas and address their need for microfinancing.
The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism.
It is a feat currently shared by only four other Indian companies: ONGC, Reliance Industries, NTPC and Infosys.\n
Tata Consultancy Services (TCS) - the largest information technology (IT) services provider in India and the second-largest globally - recently set an ambitious goal of $50 billion in revenue by 2030. The growth required to reach this goal, however, is lower than the company's own standards. In the past decade, TCS revenues, or net sales in US dollar terms, have grown at a compound annual growth rate (CAGR) of 9.5 per cent, from $10.2 in 2011-12, to an expected $25.3 billion during 2021-22 (FY22), based on its revenue trend in the first nine months of FY22.
Tata Consultancy Services (TCS) on Wednesday posted a 19 per cent increase in consolidated net profit at Rs 1,326.67 crore (Rs 13.27 billion) for the third quarter ended December 31, 2007 when compared with Rs 1,116.10 crore (Rs 11.16 billion) in Q3 FY07. According to a release issued to the BSE on Wednesday, the total income increased to Rs 6,041.98 crore (Rs 60.41 billion) from Rs 4,910.53 crore (Rs 49.10 billion) in Q3 FY07.
Tata group company and IT major Tata Consultancy Services (TCS), on Friday said that it has clocked a net profit of Rs 1,534 crore (Rs 15.34 billion) in Q1 FY 10, up 19 per cent as compared to the year-ago period of Rs 1,290.61 crore (Rs 12.90 billion).
ICICI Bank's valuation tumbled Rs 6,883.44 crore to Rs 3,48,532.24 crore, taking the worst hit among the top-10 firms.
In an order, which may affect the computer industry adversely, the Supreme Court on Friday held that software could be classified as goods for the purpose of levy of sales tax on it.
Life Insurance Corp of India (LIC), which is aiming to launch its initial public offering (IPO) next month, is set to alter the pecking order of top listed companies in the country. Depending upon where the government prices the IPO, the stock could end up becoming India's most valuable company on the first day and even get fast-tracked into global benchmark indices given its sheer size. According to market sources, LIC's IPO is targeting to mop up Rs 63,000 crore and Rs 75,000 crore.
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