Page 12 - Tata Consultancy Services

TCS ties up with Amazon Web Services to launch generative AI practice

The country's largest IT services exporter TCS on Monday announced its tie-up with Amazon Web Services to launch a dedicated generative artificial intelligence practice. The Tata Group company recently announced that it has imparted foundation training on GenAI for 1 lakh employees across the world. The practice will focus on using responsible AI frameworks and its "Paceport innovation hubs" to build a comprehensive portfolio of solutions and services for every industry sector, as per an official statement. It has already bagged a customer, with the world's largest hotel franchising company Wyndham Hotels and Resorts extending its strategic partnership with TCS and AWS to manage its digital transformation journey. Generative AI has captured the attention of enterprises globally for its potential to significantly reshape industries, the statement said, adding that TCS has already been working on GenAI with clients. TCS is at present focused on certifying over 25,000 employees on AW

TCS Q3 to take $125 million hit on Epic Systems Corporation legal woes

Epic had filed the case against TCS in 2014, alleging that the company had stolen its intellectual property

TCS to take $125 mn hit to Q3 earnings over US trade secret lawsuit

The US Supreme Court on Monday rejected TCS' appeal against a verdict passed by the District Court of Wisconsin, upholding an order that includes $140 million in punitive damages

Australia's ASX signs deal with TCS to revamp clearing, settlement platform

Indian IT services firm will use flagship product to replace ASX's existing platform

Amid muted earnings, Infosys to hand out 80% variable pay for Q2FY24

The IT sector has faced challenges as the Western markets have struggled with the possibility of a recession. Most clients for Indian IT companies are from the USA and Europe

Tata Technologies sets IPO price band at Rs 475-500 per equity share

The anchor book will open on November 21, the issue will open for public subscription on November 22, and the case will close on November 24

Tata Consultancy Services gains after setting buyback record date

The company has set a buyback price of Rs 4,150, nearly 19 per cent higher than the last close

NITES files complaint against TCS over forced transfer of employees

The Nascent Information Technology Employees Senate (NITES) filed a complaint against Tata Consultancy Services over involuntary transfers of over 2,000 employees

Stocks to Watch today, Nov 16: TCS, Bajaj Fin, RateGain, ONGC, Dabur, Paytm

Stocks to Watch on Thursday, November 16, 2023: The RBI has asked Bajaj Finance to stop sanctioning and disbursal of loans under 'eCOM' and 'Insta EMI Card' segments with immediate effect

IT companies to diversify, draw 30% revenue from non-western mkt by 2030

Japan, Australia, and countries from West Asia will play a major role in this shift as they expand their share in the Indian IT outsourcing space

M-cap of 4 of top-10 firms decline by Rs 23,417 cr; TCS biggest laggard

The combined market valuation of four of the top-10 most valued firms fell by Rs 23,417.15 crore last week, with IT majors Infosys and Tata Consultancy Services (TCS) taking the biggest hit. Last week, the BSE benchmark advanced 540.9 points or 0.84 per cent. While Reliance Industries Ltd, TCS, Hindustan Unilever Ltd and Infosys faced erosion from their market capitalisation (mcap), HDFC Bank, ICICI Bank, ITC, Bharti Airtel, State Bank of India and Bajaj Finance witnessed a combined addition of Rs 17,386.45 crore. The market valuation of Infosys fell by Rs 8,465.09 crore to Rs 5,68,064.77 crore, the most among the top-10 firms. The mcap of TCS declined by Rs 6,604.59 crore to Rs 12,19,488.64 crore. Hindustan Unilever's mcap diminished by Rs 5,133.85 crore to Rs 5,84,284.61 crore and that of Reliance Industries dipped by Rs 3,213.62 crore to Rs 15,65,781.62 crore. However, the valuation of HDFC Bank jumped Rs 5,236.31 crore to Rs 11,31,079.20 crore. ICICI Bank added Rs 3,520.92 c

Tech talent embracing jobs in non-tech sectors amid IT hiring slowdown

While automobile, banking, and other sectors can absorb IT talent, they are unlikely to generate the same hiring volume as the tech sector

TCS gets notice from Maha Labour Ministry over lateral onboarding delay

While the number of lateral employees impacted by this delay could not be confirmed, according to NITES complaint filed in July, over 200 employees were impacted

TCS to revise rates for staffing cos to enhance transparency, better talent

The changes in rate cards are for contract staffing employees and not for permanent employees. TCS is revamping its hiring mechanism

M-cap of 10 valued firms plunge Rs 1.52 trn; Reliance, TCS biggest laggards

The combined market valuation of the top 10 valued companies plunged Rs 1,52,979.78 crore last week, with Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit in an overall weak trend in equities. Last week, the BSE benchmark fell 885.12 points or 1.33 per cent. The market valuation of Reliance Industries plummeted Rs 34,876.78 crore to Rs 15,55,531.53 crore. The valuation of TCS plunged Rs 27,827.08 crore to Rs 12,78,564.03 crore. Hindustan Unilever's market valuation eroded by Rs 18,103.6 crore to Rs 5,86,223.02 crore and that of Bajaj Finance fell by Rs 17,171.75 crore to Rs 4,70,574.90 crore. The market capitalisation (mcap) of ICICI Bank dived Rs 13,518.4 crore to Rs 6,53,120.67 crore and that of ITC dropped Rs 12,533.27 crore to Rs 5,46,537.83 crore. State Bank of India's valuation declined by Rs 11,512.75 crore to Rs 5,02,678.77 crore and that of HDFC Bank fell by Rs 10,387.09 crore to Rs 11,54,748.49 crore. The mcap of Bharti Airtel slipped Rs .

IT sector job woes may pull down overall consumer demand in India

Historically, there is a strong positive correlation between the growth of compensation (salary, wages, etc) in the IT sector and the growth of PFCE in the economy

TMS Ep543: TCS 25x25 plan, Groww vs Zerodha, large cap funds, Iron Dome

Why did TCS' 25 by 25 plan fail? What helped Groww outgrow Zerodha? Is it time to bet on large caps? What is the Iron Dome? All answers here

Proportion of new deal wins into revenues intact, says TCS official

The proportion of new deal wins into revenues is "intact", a senior official at largest IT services company TCS has said, attributing the sluggish revenue growth to the adverse impact on discretionary demand because of economic headwinds. Stating that discretionary demand can contribute as much as 30 per cent of incremental revenues in a quarter, the company's chief operating officer N Ganapathy Subramniam told PTI that the September quarter results were impacted due to this aspect. Clients are choosing to conserve cash given the economic climate and choosing to defer spends where they do not see immediate returns on investments, which has impacted the discretionary demand, he said. He, however, said that the proportion of revenue it bags from new deals has not been affected. The company has reported signings of over USD 10 billion for three consecutive quarters. "TCV (total contract value) to revenue conversion rate is intact," Subramaniam said, explaining that there are a slew of

Review of Resource Management Group issue completed, action taken: TCS

TCS stated that of the 19 employees, 16 have been separated from the company for code of conduct violations

Hired about 200K in 2-3 yrs, but some never came to office: TCS COO

We have decided that people should come back to office, says N Ganapathy Subramaniam