The settlement is subject to fairness review and approval by the court.
Led by Tata Motors and Tata Consultancy Services (TCS), the combined revenue of the Tata group's listed firms crossed the Rs 10-trillion mark for the first time, in 2022-23. The group's 14 key listed companies in which Tata Sons holds a direct equity stake reported a combined revenue of Rs 10.07 trillion in FY23, up 15.3 per cent from Rs 8.73 trillion in FY22. The combined net profit of these companies was, however, down 10.6 per cent year-on-year (YoY) at Rs 66,670 crore in FY23, from a record high of Rs 74,540 crore in the previous financial year, when the profit had jumped 156 per cent YoY, aided by Tata Steel's strong showing.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
The recent sell-off in IT stocks such as Infosys and Tata Consultancy Services (TCS) has resulted in a sharp decline in the IT sector weighting in the Nifty50 index. The sector's weighting in the index has slipped to a five-year low of 12.2 per cent, down from the 17.7 per cent at the end of March 2022. The top IT companies - TCS, Infosys, Wipro, HCL Technologies, and Tech Mahindra - accounted for 13.6 per cent of the index at the end of March this year.
Indian IT major Tata Consultancy Services will open a branch in Israel within six months and has already chosen a local manager.
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.
Infy's cash utilisation may play role in whether valuation gap too narrows
Among major Sensex movers, ITC rose the most by 1.70 per cent, Wipro by 1.43 per cent, Tech Mahindra by 1.36 per cent and Nestle India by 1.27 per cent. Other gainers included HCL Tech, Asian Paints and Reliance. On the other hand, ICICI Bank, NTPC, UltraTech Cement and Tata Steel traded with a loss of up to 0.82 per cent.
The overall momentum is very strong, said the company CEO.
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
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.
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.
Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05 per cent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan. However, IT majors HCL Technologies and TCS defied the trend and gained 1.02 per cent and 0.47 per cent, respectively. FMCG firm Hindustan Unilever rose 0.32 per cent.
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.
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.
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.
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.
M&B is partnering with TCS to streamline the management of its HR and Payroll operations.
TCS was in charge of development and management of the portal for seven years, until MCA decided to hand the work of its IT vendor to Infosys.
On Friday, the stock was the worst hit among the 30 blue-chips on the Sensex
TCS is likely to hire hire 55,000 employees in FY15 .
50 years ago, on April 1, 1968, Tata Consultancy Services -- now India's leading IT company -- was born. The foundation for TCS was laid by Faqir Chand Kohli whose life touched directly or indirectly many, many, Indians, says Shivanand Kanavi.
Software giant TCS has replaced its group firm Tata Steel as the country's most admired company.
Indian IT companies TCS, Infosys, Wipro and HCL Technologies have issued advisories to their employees working in US, whose East Coast is battered by a superstorm.
The pilot project would begin from South 24 Parganas district and be gradually extended to all other 18 districts of the state, Panchayat and Rural development minister Subrata Mukherjee said.
On key parameters, TCS appears to be on a better wicket.
First, TCS is on track to grow faster than the industry's estimated 11-14 per cent growth (in constant currency). The second quarter has seen no major shift in demand or project cancellations, which were big concerns.
Tata Consultancy Services (TCS) said it will hire 55,000 employees this fiscal, including 25,000 freshers.
Take the Rediff Business Quiz and find what you know about TCS, India's largest IT company.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
India's largest software services exporter Tata Consultancy Services on Friday said it will expand its strategic business alliance with US-based Dow Chemicals that will create new jobs in Midland-Michigan.
With revenues of $13.4 billion for FY14, Tata Consultancy Services (TCS) has managed to deliver consistent growth for both the fourth quarter and the full year.
Shares of Tata Consultancy Services on Wednesday plunged almost 4 per cent, wiping out about Rs 16,000 crore (Rs 160 billion) in investor wealth, after the IT major indicated to analysts that weak India business and lower working days could drag down March quarter growth rate.
Employees face a bleak future, CPI (M) said.
TCS has bagged a Rs 784 crore outsourcing order from Sun Life Financial of Canada.
During the first three quarters of 2014-15 alone, TCS has made a lateral hiring of over 1,500 experienced professionals with core digital skills.
Even as the slowdown in the information technology (IT) services sector deepens, banking, financial services and insurance (BFSI), as well as oil and gas companies, emerge as the primary drivers of corporate earnings in the country. The IT services sector's share in corporate earnings declined to a five-year low of 17.4 per cent in the second quarter (Q2) of 2023-24 (FY24), whereas banks and finance companies accounted for 46.5 per cent, and oil and gas firms contributed 16.8 per cent. At their peak, IT services firms like Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro represented just over a third of the combined net profit of all listed companies in the Business Standard sample.
Software major TCS will sign an MoU with Kerala government on Saturday for setting up of a Rs 1,000 crore Global Training Academy in Thiruvananthapuram.
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