Page 11 - Tata Consultancy Services

Mcap of 7 of most valued firms at Rs 65,302 cr; TCS, ICICI biggest gainers

The combined market valuation of seven of the top 10 most valued firms climbed Rs 65,302.5 crore last week, with Tata Consultancy Services and ICICI Bank emerging as the biggest gainers. Last week, the BSE benchmark Sensex climbed 663.35 points or 0.90 per cent, and the Nifty jumped 165.7 points or 0.74 per cent. Leading stock exchanges BSE and NSE conducted a special trading session in the equity and equity derivative segments on Saturday to check their preparedness to handle major disruption or failure at the primary site. From the top-10 pack, TCS, HDFC Bank, ICICI Bank, State Bank of India, Bharti Airtel, Hindustan Unilever and ITC were the gainers, while Reliance Industries, Infosys and Life Insurance Corporation of India (LICI) faced erosion from their market capitalisation (mcap). The market valuation of TCS climbed Rs 19,881.39 crore to Rs 14,85,912.36 crore. ICICI Bank added Rs 15,672.82 crore, taking its valuation to Rs 7,60,481.54 crore. The market valuation of State B

UBS upgrades TCS to 'Buy', sees 15% upside in stock; here's why

We see enough drivers to believe TCS can deliver industry-leading growth and margins among peers in FY25, the brokerage said

Reliance Industries most valuable Indian company: Hurun Global 500 2023

The two companies that saw the highest valuation gain were Microsoft and Nvidia. Both of these are associated with the artificial intelligence software ChatGPT

Oxford terminates deal with TCS after technical glitch in admission test

The Oxford University has terminated its deal with Tata Consultancy Services (TCS) after students experienced technical glitches while taking online admission test for the institution. "Following the technical problems experienced by some candidates during the delivery of this year's online admissions tests by a new provider, TCS will not be involved in the delivery of Oxford admissions tests going forward," a spokesperson for the university said. Thousands of students from across the world appear for test to get admitted to Oxford every year. The university offers undergraduate and postgraduate programmes through 30 colleges across the UK. Prominent Indians who studied at Oxford include former prime ministers Indira Gandhi and Manmohan Singh. In April 2023, the UK-based institution selected TCS iON, the learning and assessments-focused unit of TCS, for conducting the admission tests, replacing Cambridge Admissions Assessment Testing. The university attributed complaints by candida

IT giant TCS looks to double staff in France over next three years

TCS is aiming to double staff in France over the next three years as it sees handsome business growth in the European country, a senior official said on Thursday. At present, the largest Indian IT services company employs 1,600 people in France across four major centres in the country. France is among the fastest growing markets in Europe for TCS, growing much faster than the numbers it reports for the continent, its head of European business, Sapthagiri Chapalapalli, told PTI. Chapalapalli said TCS has been present in France for over three decades now and right now, it feels that the bulk of the groundwork is ready for a faster growth of the business going ahead. The business in France will "multiply" from here on by growing at an accelerated pace courtesy building blocks which have been put in place, he said. It has been working with 80 French clients across all major sectors which are key to the local economy and also runs an innovation centre in Paris. A bulk of its 1,600 sta

BFSI will bottom out by next qtr; FY25 should be better: TCS MD & CEO

'It will take about four to eight quarters for GenAI to be substantial part of revenue'

Q3 results: UK drives growth for TCS in seasonally 'slow' quarter

Revenues for the quarter at Rs 60,583 crore were up 4 per cent Y-o-Y and 1.7 per cent in constant currency. On a sequential basis, revenue was up 1.5 per cent

TCS Q3FY24 results: Net profit up 2% to Rs 11,058 cr, revenue up 4%

TCS Q3FY24 results: The IT major also reported a net attrition of 13.3 per cent and said will continue hiring from colleges

IT firms may report soft Q3 as higher furloughs to weigh on revenue growth

Indian IT companies are expected to report a "soft" third quarter with higher-than-usual furloughs weighing on revenue growth, industry watchers said cautioning that demand outlook commentary is likely to be unchanged as clients continue to scrutinise discretionary spends and prioritise cost optimisation. The big earnings week for tech heavyweights is up ahead, with the top tier IT companies slated to announce their December quarter numbers this week. Tata Consultancy Services (TCS) and Infosys will declare their Q3FY24 report card on January 11 (Thursday) and Wipro and HCL Technologies on January 12 (Friday). All eyes will be on management commentary from the IT pack on prevailing customer sentiments across BFSI, and technology services, as well as demand scenario panning out in key markets of the US and Europe. "We expect IT companies to report soft quarter-on-quarter constant currency revenue growth in Q3FY24 due to higher-than-usual furloughs for most companies in our coverage

M-cap of 6 of 10 most valued firms declines by Rs 57,408 cr; TCS takes hit

The combined market valuation of six of the top-10 most valued firms declined Rs 57,408.22 crore last week, with Tata Consultancy Services (TCS) and HDFC Bank taking the biggest hit, in-line with muted trends in equities. Last week, the BSE benchmark declined 214.11 points, or 0.29 per cent, even after hitting an all-time high of 72,561.91 on January 1. The market valuation of TCS fell by Rs 20,929.77 crore to Rs 13,67,661.93 crore, the most among the top-10 firms. HDFC Bank's market capitalisation (mcap) declined Rs 20,536.48 crore to Rs 12,77,435.56 crore. The valuation of Hindustan Unilever fell Rs 10,114.99 crore to Rs 6,15,663.40 crore. The mcap of Infosys went down Rs 4,129.69 crore to Rs 6,36,222.11 crore, and that of ICICI Bank by Rs 1,608.05 crore to Rs 6,97,357.42 crore. The valuation of State Bank of India dipped Rs 89.24 crore to Rs 5,72,826.22 crore. However, the mcap of Reliance Industries jumped Rs 14,816.85 crore to Rs 17,63,644.77 crore while ITC added Rs 14,409

HCL Technologies to outshine IT peers in Q3 results: Elara Securities

Q3 IT preview: Elara Securities said that added that other large firms may witness a revenue dip of 1-1.3 per cent QoQ CC given weak seasonality

India launches a single-window portal for medical devices management

The Drugs Controller General of India said that the National Single Window System (NSWS) has been established as a 'genuine single-window system which acts as a one-stop shop for all approvals'

TCS get notice from Maharashtra labour dept for employee transfer practices

Group representing Indian IT workers alleges company harassing employees who oppose 'forced transfers'

Year Ender: 10 big events that shaped the Indian corporate world in 2023

From Hindenburg's report on the Adani Group to the signing of the biggest aircraft orders by Air India and Indigo, India saw several important corporate news in 2023. Here are the 10 most significant

For salary hikes, IT firms now considering tenure along with performance

The IT majors are making changes in their pay increment structure to maintain margins at a time when the sector is going through a tough time globally

TCS modernises post-trade market infrastructure for Switzerland's SIX

Platform is the backbone of the Swiss market's post-trade value chain, says Indian IT firm

M-cap of 9 of top-10 firms jumps Rs 2.26 trn; TCS, Infosys biggest gainers

The combined market valuation of nine of the top-10 most valued firms jumped Rs 2.26 lakh crore last week, with Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers amid an overall bullish trend in equities. Last week, the BSE benchmark jumped 1,658.15 points or 2.37 per cent. The 30-share BSE Sensex zoomed 969.55 points or 1.37 per cent to settle at its record closing high of 71,483.75 on Friday. During the day, it surged 1,091.56 points or 1.54 per cent to 71,605.76, its all-time intra-day high level. The combined market valuation of the nine firms, including Reliance Industries, TCS, ICICI Bank and Infosys, jumped Rs 2,26,391.77 crore, while Bharti Airtel emerged as the only laggard from the top-10 pack. The market valuation of TCS jumped Rs 85,493.74 crore to Rs 14,12,412.13 crore, the most among the top-10 firms. Infosys added Rs 36,793.61 crore, taking its valuation to Rs 6,55,457.54 crore. The market valuation of State Bank of India surged Rs 30,700.

US Federal Reserve pivot helps markets log seventh weekly advance

A dovish pivot by the US Federal Reserve and a sharp retreat in bond yields spurred risk appetite across the globe

IT hiring slowdown to continue for 2-3 quarters, global slowdown to blame

Sekhar Garisa, CEO of foundit, said that companies do not need as many designers and content writers as before since technology can help make some of these jobs more efficient

Tata Sons likely to mop up Rs 12,284 crore from TCS share buyback

Rs 17K cr offer at Rs 4,150 per share to open on Dec 1