In the Sensex pack, HCLTech rose the maximum by 3.12 per cent, followed by ITC which gained 2.73 per cent and M&M went up 2.61 per cent. TCS climbed 2.44 per cent. Tech Mahindra, Wipro, L&T and Maruti were among the other major gainers.
The country's largest software exporter Tata Consultancy Services on Monday reported a stellar 72.7 per cent growth in net profit at Rs 6,413 crore for the fourth quarter of last fiscal ended March 31.
The facility will cater to govt services that require Inpact Level 3 security.
As part of its Latin American expansion plans, IT major Tata Consultancy Services has set up another global delivery centre in Uruguay and will will house over 250 personnel.
The revenue also rose 14.2 per cent to Rs 29,305 crore (Rs 293.05 billion).
The market capitalisation of a listed company corresponds to the cumulative market price of all its shares.
The company's revenue rose by 11.7 per cent to Rs 27,364 crore.
Information technology giant Tata Consultancy Services on Tuesday said it plans to develop a new facility in three phases at Gandhinagar, Gujarat.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore
Market experts believe TCS to post better quarterly earnings vis-a-vis Infosys.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
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.
The Madras High Court has restrained software major TCS from retrenching its analyst who has been issued termination order by the company.
TCS beat tech giants IBM and Hewlett-Packard to become the fastest growing brand within the IT services sector.
Tata Consultancy Services and Oracle have begun a pilot project involving international carrier Virgin Atlantic to manage critical parts used in aircraft maintenance and repairs by tagging them with a radio frequency identification device.
According to NASSCOM and McKenzie, it is projected that Indian IT sector will need around nine million employees and currently it has only 3.2 million, he informed.
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.
Indian IT major Tata Consultancy Services will open a branch in Israel within six months and has already chosen a local manager.
Among the Sensex firms, Kotak Bank, PowerGrid, ICICI Bank, HDFC Bank, PowerGrid were the major gainers. HUL, TCS, M&M, IndusInd Bank, HCL Tech were among the losers.
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.
The settlement is subject to fairness review and approval by the court.
Tata Consultancy Services, the $2 billion listed IT company from the Tata group is looking at expanding its global base by exploring untapped markets in Eastern Europe, Russia and China.\n\n
While about 8,000 people are in the long list of invitees, the select list features just a few hundred people, including prominent politicians, leading industrialists, top film stars, sportspersons, bureaucrats and diplomats.
Leading software company Tata Consultancy Services has announced an alliance with the MIT Sloan Centre for Information Systems Research, strengthening ties with the world's leading academic institutions.
To increase focus on hiring people from diverse skillset
India's largest information technology firm Tata Consultancy Services on Wednesday said it would increase headcount in the next financial year and explore both the organic and inorganic routes for growth.
The firm-level optimism derives partly from the state of the global economy.
Infy's cash utilisation may play role in whether valuation gap too narrows
The Top Employers certification is awarded to a select group of employers.
According to bulk deal data available on the National Stock Exchange, TCS promoter group firm Tata Industries has sold 1.03 crore shares of TCS at Rs 615.04 a piece, aggregating to over Rs 634.80 crore. As of March quarter, Tata Industries held 5,14,850 shares representing 0.05 per cent stake in TCS.
Betting big on the inorganic growth strategy, Tata Consultancy Services on Thursday said its initial public offer would help bolster resources for 'significant' acquisitions for future growth.
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.
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
The overall momentum is very strong, said the company CEO.
Taxpayers are filing their income tax returns (ITRs) early for the Assessment Year 2024-25 (FY25). By April 29, over 592,000 returns were filed, with over 538,000 verified and 367,000 processed. Early filing allows revisions without penalties.
Historically, Infosys has kickstarted the earnings season for the entire listed space for many years, thus earning the bellwether tag in the market, while TCS has generally followed with its quarterly numbers a few days later.
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 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.
