Page 15 - Tata Consultancy Services

Trouble for new engineering graduates as IT hiring to hit 3-yr low in FY24

The fear of a recession in the US has emerged as a major hurdle for the IT sector. There is also a dearth of new projects which may impact the recruitment of new engineers

TCS helps AIB Life launch operations in Ireland with tech platform

TCS lent its technical expertise to create "a modern, cloud-based technology stack ground up", with its flagship insurance platform TCS BaNCS at the core, the firm said

More misses than hits hint at uncertain times for IT services companies

First mismatch in the numbers is the total contract value (TCV) signed by the firms and the actual revenue growth registered

IT firms register a downfall in employee headcount, delay in salary hikes

Representatives from HCLTech said that the company had decided to postpone the compensation review by a quarter. Moreover, senior management at HCLTech will not be receiving pay hikes this year

TCS bags deal from BBC for finance, procurement, payroll management

Tata Consultancy Services (TCS) on Thursday said it has bagged a deal from British Broadcasting Cooperation (BBC) to change their finance, procurement and HR applications management. The company will leverage AI-driven human-machine collaboration suite, TCS Cognix in the multi-year partnership, the company said in a BSE filing. "TCS will also provide application management and change delivery services for the broadcaster's application estate supporting the finance, procurement and HR functions," the statement read. Amit Kapur, Country Head, UK and Ireland at TCS, said that the partnership will "strengthen TCS' position as a leader in delivering transformative business services to the media and entertainment industry". The Indian IT services giant has been operating in the UK for 45 years and tops software and IT services supply in the region in revenue terms. It employs 21,000 people in the UK and Ireland, making it among the region's biggest IT employers.

TCS extends partnership, will strengthen GE Healthcare's tech operations

IT services firm's service will enable GE Healthcare to provide care solutions to more than 1 bn patients

Nifty IT index gains 6% in 2 days; Tech Mahindra, Coforge hit 52-week highs

Mphasis surged 4 per cent, while TCS, Infosys, HCL Technologies and L&T Technology Services gained in the range of 2 to 3 per cent

TCS shares climb 3% post-earnings announcement, mcap jumps Rs 29,437 cr

Shares of Tata Consultancy Services (TCS) climbed almost 3 per cent on Thursday a day after the company reported a 16.83 per cent increase in its June quarter net profit to Rs 11,074 crore. The stock climbed 2.47 per cent to settle at Rs 3,340.65 on the BSE. During the day, it rallied 3.24 per cent to Rs 3,366. It was the biggest gainer among the BSE Sensex and NSE Nifty firms. At the NSE, it climbed 2.59 per cent to end at Rs 3,344.50. The company's market valuation jumped Rs 29,437.08 crore to Rs 12,22,361 crore in tandem with rally in the stock. A total of 2.69 lakh shares of the company were traded at the BSE and over 45.85 lakh shares on the NSE during the day. The rally in the stock was instrumental in helping equity markets trade firm. The 30-share BSE Sensex ended 164.99 points, or 0.25 per cent, higher at 65,558.89, and the NSE Nifty went up by 29.45 points, or 0.15 per cent, to 19,413.75. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago

New tech not IT-driven... long-term tech spend intact: TCS CEO & MD

'We have not seen too many large deals compared to last quarter. But some of them will be large'

Generative AI deals expected in 2 quarters; will not be mega wins: TCS CEO

The country's largest IT services company TCS is expecting some generative artificial intelligence- (AI) based deals in the next two quarters, but their sizes will not be big, its top official said on Thursday. Those deals will not be over USD 1 billion, TCS Chief Executive Officer and Managing Director K Krithivasan told PTI during an interview here. Each organisation will spin out a number of deals, but there may not be a single billion dollar kind of deal in generative AI, Krithivasan said, adding that at present, every organisation is tinkering to assess the possibilities of the new technology. TCS, which on Wednesday announced its intent to train 1 lakh associates on generative AI and working on 50 proofs of concept, is also gearing up for the changes in the landscape, Krithivasan said. The major impact (for) organisations will happen only when they embark on an enterprise-wide programme. As long as they keep doing some use cases here, some use cases there, some pilots here, e

TCS Q1FY24 result: Net profit up 16.8% YoY; revenue rises to Rs 59,381 cr

TCS Q1FY24 result: The attrition for the first quarter of the current financial year stood at 17.8%

IT giant Wipro plans to invest $1 billion in AI over next three years

The investments will focus on the expansion of AI, big data, and analytics solutions, as well as developing new research and development and platforms, it said in an exchange filing

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