Umesh Keelu said he would be motivating other youngsters from Dharavi slums to join the armed forces.
Bloomberg estimates revenue at Rs 25,328 crore, up 4.6per cent sequentially and EBITDA margin of 27.2per cent
Reliance Industries on Tuesday became the country's most valued company, pushing IT major TCS to second spot in the domestic market capitalisation chart.
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. "The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth," the Central Board of Direct Taxes (CBDT) said in a statement. Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
IT services major Tata Consultancy Services on Thursday said it has been ranked number one for customer satisfaction in a major survey conducted by Whitelane Research in the United Kingdom.
Growth is coming across both government as well as private sector.
'Investing abroad helps mitigate currency risk for foreign-currency denominated goals, such as children's higher education and international travel.'
TCS said employee addition during the quarter stood at 18,362
Analyst are cautious about the performance of IT services sector from January to March quarter (Q4) of FY24 and the first half (H1) of FY25. While the Bloomberg consensus on revenue implies the market is expecting 2-3 per cent growth on a quarter-on-quarter (Q-o-Q) basis for the IT majors through FY25, the H1FY25 is likely to see even flatter returns, and Q4FY24 is likely to be poor. There is likely to be some recovery in the second half (H2FY25) but even so, there's a chance that the market will be overall disappointed.
N Ganapathy Subramaniam further said TCS has signed deals worth over $6 billion in a matter of just 2-3 weeks
In 2010, TCS's brand value was $2.3 billion.
Tata Consultancy Services on Wednesday announced a global engineering services partnership with power systems company Rolls-Royce.
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
India's largest information technology (IT) services provider, TCS, is setting up a greenfield business process outsourcing (BPO) centre in Ahmedabad that can house 2,000 people.
Among Sensex shares, Bajaj Finserve, ICICI Bank, Bharti Airtel, Bajaj Finance, Sun Pharma, Maruti Suzuki, ITC, and Nestle were the lead gainers. On the other hand, L&T Wipro, IndusInd Bank and TCS and Tata Motors were the lead losers.
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. "We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.
TCS hopes the Rs 2,628-crore (Rs 26.28 billion) bonus to its employees will help contain the high attrition level.
The Ebitda margin, too, was lower than the expected 29.1 per cent.
Ex-employee Steven Heldt had sued the company for favouring South Asians and discriminating against American workforce.
For the entire 2016-17, TCS saw its net profit growing 8.3 per cent to Rs 26,289 crore while revenue was up 8.6 per cent at Rs 117,966 crore
The roll-out of the auto enrollment began in October 2012.
The country's largest software vendor Tata Consultancy Services (TCS) on Tuesday said it will review salary increment plans by this month-end as signs of revival of demand in the sector get stronger by the day.
One of the reasons is the increasing number of upgrades in analysts' recommendations.
S&P said Indian technology players will continue to grow at a slightly slower pace over the next two to three years due to technological disruptions.
Under its Agile business model, the company has started using its off-shore base up to the extent of 90 per cent which, along with several other measures, will benefit its operating margins, said Chief Operating Officer N Ganapathy Subramaniam.
Expanding its presence in the US, India's IT major Tata Consultancy Services (TCS) has opened a new facility here which was welcomed by the US lawmakers and the Californian government.
The finance ministry on Friday amended the foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme (LRS). The amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000, will be effective retrospectively from May 16, the ministry said in a notification. "...the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India" will not be covered under LRS, the notification said while inserting Rule 7 in the FEM (CAT) Rules.
As part of the commercial deal, the council's IT department will collaborate with TCS to integrate and rationalise its back office IT systems.
Infosys, Wipro may follow suit as investors eye a piece of the large cash kitty as growth slows.
Rating agency Standard & Poor's on Friday revised upwards the long-term corporate credit ratings of software majors TCS, Infosys and Wipro to 'A' from 'BBB+.'
Tata Consultancy Services and State Bank of India on Monday launched a joint venture to provide advanced technology solutions and world-class domain consulting for the banking and financial services sector.
IT services firm Infosys on Thursday reported an 11 per cent rise in consolidated net profit in June quarter at Rs 5,945 crore, but lowered full year growth outlook to 1-3.5 per cent amid macro uncertainties. The net profit (before minority interest) during the same period previous year stood at Rs 5,362 crore.
Tata Consultancy Services, India's number one information technology services company, could overtake Infosys to become the most profitable one for the first time on a full-year basis in 2012-13.
The buyback, if successful, will surpass RIL's 2012 share repurchase of Rs 10,400 cr
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.
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