Page 26 - Tcs

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'

Sensex sheds 505 pts from summit, ends 165 pts up; PSU banks crack; IT gain

CLOSING BELL ON JULY 13, 2023: The NSE Nifty50 hit a new high of 19,567, before finishing with a modest gain of 29 points on Thursday. Broader indices ended in red.

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 may hit Rs 4,000-mark on Q1 boost; HCL Tech could dip to Rs 1,000 level

Once the range of Rs 3,380 to Rs 3,350 is conquered, TCS shares are set to hit a new historic peak. HCL Tech, meanwhile, may slip under Rs 1,000 if it fails to hold the 200-DMA

Q1 results impact: TCS up 2%, HCL Tech slips; Brokerages remain optimistic

TCS's management maintained that near term demand challenges remain and refrained from giving recovery timelines, implying a slow and gradual recovery ahead.

IT giant TCS kicks off appraisal cycle during annual compensation review

He also added that the company's retention level will be back to pre-pandemic level by the second half this fiscal year.

TCS Q1 net profit beats Street, revenue growth misses the estimate

Attrition drops to 17.8% from a high of 21% in March quarter

Sensex drops 224 pts in fag-end, Nifty below 19,400; Delta Corp sinks 23%

CLOSING BELL ON JULY 12, 2023: Shares of online gaming firms wilted under selling pressure on Wednesday owing to the 28% GST levy. Meanwhile, HDFC signed-off its from the bourses with a 0.6% loss.

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%

Stocks to Watch today, July 12: TCS, HCLTech, Delta Corp, Nazara, Lupin

Stocks to watch on July 12, 2023: IT majors TCS and HCL Technologies will report Q1 earnings today, Wednesday.

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

GST Council meeting: Onus of deducting TCS may be on ONDC sellers

Tuesday's GST Council meet likely to put out clarification

TCS plans to upskill 25,000 engineers on Microsoft's Azure Open AI

The company also launched its new Generative AI Enterprise adoption offering for clients, making a bet on the rapidly growing artificial intelligence space

After TCS, Tata Steel suspends 35 employees for ethical misconduct

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

TMS Ep468: TCS bribes-for-job, UCC, Markets with UR Bhat, data scraping

Bribes-for-jobs: What really happened at TCS? Is India ready for a Uniform Civil Code? How sustainable is the market rally? Twitter: How does data scraping work? All answers here

How will changes in TCS regime affect international credit card holders?

According to an announcement by the finance ministry, there will be no change in the rate of Tax Collected at Source on international spending through credit cards

M-cap of top-10 most valued firms jumps Rs 1.88 trn; HDFC Bank top gainer

The combined market valuation of the top 10 most valued firms jumped Rs 1.88 lakh crore last week, with HDFC Bank and Tata Consultancy Services emerging as the biggest gainers, amid bullish investor sentiments. Last week, the BSE benchmark jumped 1,739.19 points or 2.76 per cent. The 30-share BSE Sensex jumped 803.14 points or 1.26 per cent to settle at its lifetime closing high of 64,718.56 on Friday. During the day, it zoomed 853.16 points or 1.33 per cent to reach its record intra-day peak of 64,768.58. Propelled by optimism in equities, the combined market valuation of the top 10 most valued firms increased by Rs 1,88,050.82 crore. The valuation of HDFC Bank surged Rs 32,600.19 crore to Rs 9,51,584.36 crore, the most among the top 10 firms. Tata Consultancy Services (TCS) added Rs 30,388.43 crore, taking its market valuation to Rs 12,07,669.91 crore. The valuation of Infosys jumped Rs 28,862.38 crore to Rs 5,54,091.27 crore, and that of Reliance Industries zoomed Rs 23,984.28

TCS: Forex dealers, tour package sellers to collect remittance undertakings

The government on Friday said foreign exchange dealers and sellers of overseas tour packages will have to take an "undertaking" from their customers about their past remittances and overseas visits made in a fiscal for the purpose of deducting TCS. The Income Tax department issued a set of FAQs on the applicability of changes relating to Tax Collection at Source (TCS) on Liberalised Remittance Scheme (LRS) and on the purchase of an overseas tour programme package. The differential rate of the TCS levy would kick in from October 1. The FAQ also defined what would constitute an 'overseas tour program package', on which from October 1, 5 per cent TCS would be levied on expenditures up to Rs 7 lakh. Beyond that, a 20 per cent rate would apply. Currently, these packages attract 5 per cent TCS. "It is clarified that the purchase of only an international travel ticket or purchase of only hotel accommodation, by in itself is not covered within the definition of 'overseas tour program ...

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

Multi Commodity Exchange tanks after extending IT contract at higher cost

MCX's transition to the TCS-run platform has been delayed, despite the company assuring analysts and its investors that the transition would take place by end-June