Macro environment, tech shift main challenges now: N Chandrasekaran
Pharma major GlaxoSmithKline and software giant Tata Consultancy Services on Tuesday signed a 'multi-year, multi-million dollar' contract to set up a global drug development support centre in Mumbai.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
Apart from his vision, what helped Ratan Tata pursue his global dreams was the phenomenal success of Tata Consultancy Services, which is 74 per cent owned by Tata Sons.
Tata Consultancy Services (TCS) on Thursday reported an 8.4 per cent rise in consolidated net profit to Rs 6,586 crore for the second quarter ended September 30 and said uncertainties in environment had resulted in holdbacks in discretionary spend by customers.
IT major Tata Consultancy Services on Friday bagged the Best Software Exporter National award for 2001-02 while Infosys received the second best award.\n\n
The two company spent about over Rs 3.15 crore.
N Chandrasekaran, managing director and CEO of Tata Consultancy Services, maintains that his company has proved its adaption to merging trends by reporting consistent growth.
The 600-million (approximately Rs 4,100 crore) UK Personal Accounts Delivery Authority (PADA) deal, which was recently awarded to Tata Consultancy Services (TCS) to administer the National Employee Savings Trust (NEST) scheme for 10 years, has come under the scanner of the Conservative Party.
Tata Consultancy Services (TCS) has emerged as the biggest wealth creator over the past five years.
Consequently, RIL lost its about position of the country's largest company in terms of market valuation, which it had held for nearly a month.
The deal structure is expected to be similar to the Infosys recent announcement of acquiring three global offshore centres from Philips along with getting an outsourcing deal.
Judith Faulkner's entrepreneurial journey could well be a case study for people worldwide.
IT major Tata Consultancy Services said that it made job offers to 1,006 students of Anna University this year.
After Infosys, the country's largest software services firm Tata Consultancy Services has warned of weaker earnings for the January-March quarter.
From the Sensex pack, Power Grid, Infosys, Asian Paints, Mahindra & Mahindra, HCL Technologies, IndusInd Bank, Tech Mahindra, Bajaj Finance, Wipro, Tata Consultancy Services, HDFC Bank and Titan were the major gainers. Tata Steel and Bharti Airtel were the laggards.
TCS is undertaking a significant performance-related restructuring of its workforce
Power Grid, HCL Technologies, Asian Paints, Hindustan Unilever, Maruti and Nestle were among the laggards. Shares of HCL Technologies were trading over 1 per cent lower even after the company reported a 7.6 per cent year-on-year rise in June quarter net profit on the back of new order wins.
TCS is aiming to add another $10 billion to its turnover in the next five years or so. Which means, the company has to grow at a compounded annual growth rate of 15 per cent. Can TCS pull it off?
India's largest information technology (IT) services company, Tata Consultancy Services (TCS), may hire close to 11,000 employees in the January-March 2010 quarter. Close to 8,300 staffers are expected to be recruited from campuses, while 3,000 would be laterals or experienced hands.
During the afternoon trade, TCS commanded a market value of over Rs 2,38,223 crore (Rs 2,382.23 billion), the highest for any listed company in India.
TCS hopes to create a positive image for outsourcing by sponsoring a famous marathon
Cognizant Technology Solutions has restructured its global growth markets (GGM) by appointing two internal leaders who will now share the responsibility. The move follows the exit of former GGM leader Rob Walker last month and is among the slew of leadership changes the company has seen in the recent past. GGM refers to the company's emerging markets outside of North America.
Tata Consultancy Services CEO and Managing Director S Ramadorai on Thursday felt merit alone should be the criteria for admitting candidates into institutes of higher education
The market cap of TCS soared the most at Rs 17,129 cr to Rs 5,01,307 cr
The centre will be focusing on emerging communication technologies
India's top software firm Tata Consultancy Services on Monday signed a shareholders' agreement with three Chinese firms and Microsoft, to invest $15 million (nearly Rs 70 crore) for floating a software joint venture in China.
The US district court of Northern California on Monday allowed two former employees of I-T giant Tata Consultancy Services Ltd to proceed with a class action lawsuit against their former company over wage dispute and breach of contract.
'Even during the pandemic we did it.' 'We think it's our responsibility to make sure that we manage the uncertainty.'
Tata Consultancy Services (TCS), India's largest information technology (IT) services provider, said it had so far made campus offers to 43,600 engineering freshers for 2012-13, higher than the 37,800 offers made this year.
TCS on Thursday said the digital segment is the fastest-growing revenue stream, accounting for 12.5 per cent of the overall sales of the IT giant which sounded confident of surpassing the $5-billion target in the segment over the next five years.
The combined market valuation of six of the 10 most valued companies surged by Rs 1,56,247.35 crore last week, with Reliance Industries Ltd (RIL) emerging as the biggest gainer. While RIL, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, HDFC and Bajaj Finance saw gains in their market capitalisation (m-cap) in the holiday-shortened week, Infosys, HUL and LIC suffered losses. Stock markets were closed on Tuesday on account of Muharram.
Europe may continue to reel from the shock of the global financial crisis, but even in these depressed circumstances Information Technology-related outsourcing remains surprisingly buoyant to the benefit of Indian firms like Tata Consultancy Services.
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