Page 15 - Tata Consultancy Services

TCS Preview: Wage hikes to erode margin in Q1FY24; PAT may drop 3.3% QoQ

TCS Q1 result preview: The weakness comes on account of a worsening demand environment, which is leading to cancellation and delay in projects, a longer sales cycle and slower revenue conversion

IT cos to log muted Q1 as macro woes persist; recovery to be slow: Analysts

Indian IT services companies are expected to log a muted show in June quarter with wage hikes keeping margins under pressure amid weak macro overhang, cuts in discretionary spends, and project delays, say analysts. Some brokerages, in fact, have cautioned that pain will continue for the tech pack up ahead, as recovery is likely to be more gradual, only around Q4 FY24 or in FY25. As tech companies head into Q1 earnings season this week, experts will also be keeping a close watch on any management commentary on the revision of the growth outlook for FY24, the spread of demand deterioration beyond BFSI (banking, financial services and insurance), hi-tech, telecom and retail verticals, net hiring, project ramp downs and pricing pressures, as key monitorables. Tata Consultancy Services (TCS) and HCL Tech are scheduled to declare their results on July 12, followed by Wipro's report card a day later (July 13). Infosys will announce its Q1 numbers on July 20, while LTIMindtree is slated to

Tata Steel dismisses 35 for 'unacceptable practices', says ethics priority

Company will uphold 'highest values' and has a zero-tolerance policy for breach, says Chandrasekaran

After TCS, Tata Steel suspends 35 employees for ethical misconduct

Another three employees were fired for sexual misconduct, taking the total tally to 38

Attracted by govt support, Alcatel-Lucent hunts partners to Make-in-India

The company said that they not only want to make products for India but also plan to manufacture to export

Top headlines: TCS takes serious view of ethics breach, BRICS expansion

Business Standard brings you the top headlines at this hour

Large cost-optimisation deals returning for top Indian IT companies

In recent months both TCS and Infosys announced bagging mega deals

TCS writes to board members about details on recruitment scam allegations

TCS is consulting with external auditors to investigate the situation, said a person aware of the development

TCS gets external auditor to assist investigation of jobs-for-bribe scandal

Sources say probe will take 45 days to complete; company tells exchanges scam had no financial impact

TCS enters strategic partnership with Standard Life International DAC

With this partnership, TCS will set up a customer operations centre in Germany and a future-ready life and pensions digital platform for Germany and Austria

TCS suspends 4 for violating code of conduct after whistleblower complaint

TCS has suspended four employees for violating its code of conduct, following a whistleblower complaint received earlier this month, sources said on Friday. The Tata Group company, the largest IT services exporter in the country, has also barred an unspecified number of vendors who provided talent on a contractual basis, they added. In a late evening statement to the exchanges, TCS said it probed the allegations made in the complaint and found out that the charges do not "involve any fraud by or against the company and no financial impact". The statement made after a media report published earlier in the day also clarified that the "reference to alleged scam in recruitment process is incorrect". It said the resource management group (RMG) is entrusted with allocating resources to various projects and fill shortfall through contractors. "The complaint referred to...relates to hiring of such contract resources employed by the contractors," it added. The company also clarified that

TCS say no recruitment fraud; issue relates to breach of Code of Conduct

TCS made these clarification to the exchanges in a filing, as media report said that senior executives involved in hiring thousands of personnel took bribes from staffing firms

Bribes-for-jobs scam uncovered at TCS, miscreants may have made Rs 100 cr

The bribes-for-job scandal has led to TCS sacking four officials from its resource management group and banning three staffing firms

Stocks to watch: RIL, TCS, Bharti Airtel, PNB, Vedanta, NMDC, JK Tyre

Stocks to watch on June 22, 2023: From Reliance Industries to Tata Consultancy Services, here are the top stocks to watch in Thursday's trading session

TCS signs $1.1 bn contract with UK's pension scheme Nest for 10 years

The contract, to help Nest transform its administration services, if extended to the entirety of its 18-year tenure would be worth 1.5 billion pounds, TCS said in a statement

Tata Consultancy Services signs £1.5 billion contract with UK's NEST

Earlier this year, UK's largest workplace pension scheme had ended its $1.8 billion deal with Atos midway

TCS, Transamerica end $2 billion contract due to macro environment

The 10-year contract, signed in early 2018, involved TCS working with U.S.-based Transameria to enable the digitization of more than 10 million policies into a single integrated platform

Only 1-1.25% of Indian IT employees are above 50, more than 50% below 30

Only 1.1% of TCS employees are aged above 50 years. On the other hand, 52.69% of the company's employees are below the age of 30

Tata Group awards generous pay hikes of 16-60% to its top officials

This comes at a time when the board of Tata Sons has acknowledged the group's highest growth in its history

Google, IT firms try to lure employees with free food, reimbursements

Companies like Infosys, Tech Mahindra, and Persistent Systems are opening offices in smaller cities and are asking their local employees to report to these offices instead of the headquarters