Page 13 - Tata Consultancy Services

Recruitment scam: IT company TCS fires 16 employees, bars 6 vendors

India's largest IT services company TCS on Sunday said it has fired 16 employees and barred six vendors in connection with a recruitment scam. Our investigation found 19 employees to be involved16 employees have been separated from the company for code of conduct violations, and three employees have been removed from the resource management function, the company said in a late evening statement. It also added that six vendors, their owners and affiliates have been debarred from doing any business with TCS. In late June, reports had surfaced of a recruitment scam at the largest software exporter, wherein vendors tasked with some functions were alleged to have indulged in malpractices in collusion with TCS staffers. The allegation came to light within weeks of K Krithivasan taking charge as the company's chief executive and was the first major challenge faced by him. The issue relates to breach of the company's code of conduct by certain employees and vendors supplying contractors,

IT stocks drag markets lower; Sensex ends 65 pts lower, Nifty falls 17 pts

Infosys, TCS, HCL Technologies and Tech Mahindra were the biggest drag on the market performance

Amid one of largest headcount drops, TCS rethinks 25/25 strategy, ends WFH

In Q2 of FY24, TCS observed a reduction of over 6,300 in its total employee count

TCS Q2 FY24 misses estimates, hints toward slow growth prospects for FY24

Announces buyback worth Rs 17,000 cr; reports one of the largest headcount falls at 6,333 in a qtr

TCS Q2FY24 result: Net profit up 8.7%; buyback worth Rs 17,000 cr announced

TCS also announced a dividend of Rs 9 per share. The record date will October 9, 2023 and the payment date is November 7, 2023

TCS hits 52-week high, gains 1% in weak market on share buyback plan

Sharekhan believes, despite the challenging environment, TCS is well placed to grab cost takeout as well as digital transformation programs along with opportunities from vendor consolidation

M-cap of 5 of 10 most valued cos jumps Rs 86,234.73 cr; TCS biggest gainer

The combined market valuation of five of the top-10 most valued firms jumped Rs 86,234.73 crore in a holiday-shortened last week, with Tata Consultancy Services (TCS) emerging as the biggest gainer. While TCS, HDFC Bank, Infosys, Hindustan Unilever and Bajaj Finance were the gainers, Reliance Industries, ICICI Bank, ITC, State Bank of India and Bharti Airtel emerged as the laggards. Last week, the BSE benchmark climbed 167.22 points or 0.25 per cent. The market valuation of TCS rallied Rs 32,730.22 crore to Rs 13,24,649.78 crore, the most among the top-10 firms. Bajaj Finance added Rs 21,697.96 crore taking its valuation to Rs 4,94,884.37 crore. The valuation of Infosys jumped Rs 18,057.94 crore to Rs 6,13,655.04 crore and that of Hindustan Unilever climbed Rs 7,730.16 crore to Rs 5,87,104.12 crore. The market capitalisation (mcap) of HDFC Bank gained Rs 6,018.45 crore to Rs 11,63,164.31 crore. However, the valuation of Reliance Industries declined Rs 19,336.49 crore to Rs ...

TCS to consider buyback of shares in board meeting on October 11

The last instance when TCS proposed a buyback plan was in March 2022. The buyback share price was Rs 4,500 per share

TCS to consider share buyback in board meeting on October 11

This comes at a time when IT companies are struggling to maintain healthy revenue growth

As business from West takes a hit, Indian IT firms explore African market

As things stand, the African continent holds a relatively small share of less than five per cent in the global IT outsourcing

TCS to modernise unemployment claims system of US state of Georgia

Company will bring in web-based platform to apply for unemployment insurance benefits

TCS signs with Asda in disinvestment and digital transformation deal

TCS will aid Asda in enhancing its customer experience and innovation capabilities to help increase its market share

End of Work-from-home: IT cos nudge employees to prepare for 5-day office

The French IT company, Capgemini's employees have been asked to work from the office two days a week

MCX delays shift to new trading platform; shares decline 9% intraday

Shares of MCX, after dropping as much as 8.7 per cent to Rs 1,913, recouped most of its losses to finish at Rs 2,053, down 2.1 per cent over its previous day's close

End of WFH? Tata Consultancy Services looks at 5-day work from office

No official memo for employees across the company, say sources

Tata Consultancy Services retains top spot as most valuable Indian brand

India's top 75 brands have a combined brand value of $379 billion, a decline of 4 per cent from 2022

India-Canada rift bad for business; IT firms may struggle to land new deals

Canada makes up to 5-6 per cent of Indian IT companies' revenues. Top companies like TCS and Infosys have recently acquired work from Canadian government departments and organisations

Indian IT cos don't see any immediate challenges due to India-Canada tussle

So far, both Canada and India have expelled senior diplomats in reciprocal moves. On Thursday, September 21, India temporarily suspended visa services for Canadian citizens

FY25 revenue growth of a few large IT companies likely to touch 10%

Last week, Infosys entered into an agreement valued at $1.5 billion with a global company for 15 years to offer enhanced digital services through its artificial intelligence (AI) solutions

M-cap of nine of top-10 valued firms add Rs 1.80 trn; TCS biggest winner

The combined market valuation of nine of the top-10 most valued firms rallied by Rs 1,80,788.99 crore last week, amid an overall buoyant trend in equities, with Tata Consultancy Services (TCS) emerging as the biggest gainer. Last week, the BSE benchmark jumped 1,239.72 points or 1.86 per cent. The 30-share BSE Sensex rallied for the 11th day running on Friday. The 30-share BSE benchmark had jumped 319.63 points or 0.47 per cent to settle at a record closing of 67,838.63 on Friday. During the day, it rallied 408.23 points or 0.60 per cent to hit its fresh all-time intra-day high of 67,927.23. Hindustan Unilever Limited was the only laggard from the top-10 pack. The list of winners had Reliance Industries Limited, TCS, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance. The market valuation of TCS jumped Rs 57,300.75 crore to Rs 13,17,203.61 crore. HDFC Bank added Rs 28,974.82 crore taking its market capitalisation (mcap) to Rs 12,58,989.87 ...