Page 10 - Tata Consultancy Services

TCS trades firm in weak market on strong Q4 show; brokerages remain upbeat

TCS reported a 9.1 per cent YoY growth in net profit at Rs 12,434 crore for Q4FY24, while revenue from operations rose by 3.5 per cent.

TCS will continue to hire despite decrease in headcount: CHRO Lakkad

Milind Lakkad says TCS has begun FY25 campus hiring and given offer letters to 11,000 freshers

TCS headcount declines for first time in 19 years; hits campus route

Total employee base now remains at 601,546

TCS Q4 results: Profit rises 9% to Rs 12,434 crore, revenue up 3.5%

The company announced an interim dividend of Rs 28 per share.

TCS trades flat ahead of March 2024 quarter results today

Earlier in the day, the stock soared as much as 0.77 per cent to hit an intraday high of Rs 4,013.25

TCS accused of firing US workers in favour of Indians on H-1B visa

TCS has faced accusations of favouring H-1B visa holders over American workers, with discrimination claims related to race and age being levelled against the company

Indian tech earnings may indicate worst is over for showpiece sector

Executives from TCS and Infosys told investors after third-quarter earnings that the market had stabilized and clients were spending on AI-driven projects and software services

IT firms bracing for muted show amid weak global macros, tight spends

Indian IT companies are seen signing off FY24 on a subdued note with an uncertain global macroeconomic environment dragging tech demand and client spends, analysts said, forecasting modest commentary and cautious tone by the tech pack on FY25 outlook. The grand IT earnings season opens on Friday with results of Tata Consultancy Services (TCS), followed by Infosys scorecard on April 18 and Wipro on April 19. Tech Mahindra is scheduled to announce Q4 and full-year numbers on April 25, whereas HCL Technologies will declare its numbers on April 26. Emkay in its quarterly preview recently said subpar growth should persist in Q4 as muted demand trends continue on account of weak discretionary spending and cautious behavior by clients amid uncertain macros. It predicted FY24 ending on a "weak footing", and noted that recovery hope has shifted to the second half of FY25. "Global companies such as ACN (Accenture), CTSH (Cognizant Technology Solutions), and CAP (Capgemini) have also guided f

Indian talent in IT sector crucial to bringing jobs to India: Anurag Thakur

Hailing the Narendra Modi-led government, Thakur said MODI stands for "Master of Digital Information" and also maker of developed India - Viksit Bharat

Integration challenges, valuations key hurdles for LTI Mindtree investors

Centrum Research believes that the company has sufficient operating levers that will help it report a higher margin in FY25 vs FY24

Tech Mahindra to merge two US-based subsidiaries to optimise costs

IT services and consultation company Tech Mahindra said it plans to merge its two wholly-owned subsidiaries, Born Group and Tech Mahindra (Americas), to synergise business operations, optimise operational cost, and reduce compliance risks. The merger is subject to regulatory approvals in the country of incorporation. According to a regulatory filing, the appointed date of the plan of merger is April 1, 2024. "A Plan of Merger of Born Group, Inc., a wholly-owned step-down subsidiary of the Company with its parent company viz. Tech Mahindra (Americas) Inc., a wholly-owned material subsidiary of the Company, has been approved by the respective companies on Friday, 22nd March 2024," the company said. While BORN specializes in providing Brand strategy, visual design, brand identity exploration, and more for digital products, mobile apps, and physical products in the US, TMA provides computer consulting, programming support services and IT Management & Consulting Services. Tech Mahindra

Mcap of 5 of top-10 firms hit Rs 1.97 trn; TCS, Infosys biggest losers

The combined market valuation of five of the 10 most valued firms eroded by Rs 1,97,958.56 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit amid volatile trends in equities. Last week, the BSE benchmark climbed 188.51 points or 0.25 per cent. The market valuation of TCS tanked Rs 1,10,134.58 crore to Rs 14,15,793.83 crore, the most among the top 10 firms. The valuation of Infosys tumbled Rs 52,291.05 crore to Rs 6,26,280.51 crore. IT stocks fell on Friday after tech giant Accenture lowered its revenue forecast for the sector for the 2023-24 fiscal. Hindustan Unilever's market valuation fell by Rs 16,834.82 crore to Rs 5,30,126.53 crore and that of Life Insurance Corporation of India (LIC) declined by Rs 11,701.24 crore to Rs 5,73,266.17 crore. The market capitalisation (mcap) of HDFC Bank dipped Rs 6,996.87 crore to Rs 10,96,154.91 crore. However, the valuation of Reliance Industries Limited jumped Rs 49,152.89 crore to reach Rs

TCS signs 7-year deal to transform IT infrastructure for Denmark's Ramboll

TCS will provide services to manage Ramboll's Cloud and data centres, application development, maintenance

TCS sets up Pace Port in London to promote business, tech collaboration

Seventh such international facility the Indian IT services company has set up

Markets feel weight of TCS stake sale; Sensex YTD returns turn negative

The Sensex fell 736 points, or 1.01 per cent, to close at 72,012

TCS BaNCS selected by Central Bank in US for core technology modernisation

Central Bank manages more than $20 billion in assets, serving more than 150 locations in 78 communities throughout Missouri, Kansas, Illinois, and Oklahoma

TCS slips 3% after 21 mn shares change hands in block deals on BSE

At 09:15 am; around 20.93 million equity shares representing 0.58 per cent of total equity of TCS changed hands on the BSE, the exchange data showed.

Tata Sons to sell 23.4 mn TCS shares worth Rs 9,362 crore in block deal

Over the past year, TCS shares have gained nearly 33 per cent, slightly outperforming the Nifty50 index, which has risen 30 per cent

TCS likely to offer 7-8% average salary hike to offsite employees

TCS' attrition rate has been normalising, standing at 13.3 per cent for the third quarter of FY24, down from 14.9 per cent in the previous quarter

TCS announces deal to 'transform' Danish firm Nuuday's IT infrastructure

Multi-million dollar agreement involves Nuuday's IT infrastructure being shifted to Cloud platform of TCS