Page 31 - Tcs

At TCS, CEO is the first among equals, says Krithi Krithivasan

Presence is across geographies, any downside hits us, says Krithi Krithivasan CEO-designate, TCS

TCS to continue investments in R&D and technology: CFO Samir Seksaria

Country's largest IT services company TCS will continue investing in research and innovation, office spaces and technology infrastructure at the same pace even as it wades through near-term volatilities, a senior official has said. The company's promise to continue with the normal wage hikes will hit the operating profit margins by a further 1.70-1.75 per cent in the June quarter, its chief financial officer Samir Seksaria said, adding that the key number will stabilise going ahead into the new fiscal. He said the company typically spends Rs 1,200-1,500 crore in research and innovation and Rs 3,000-4,000 crore as capital expenditure on back-end technology needed to deliver work and office spaces, and the same should continue going ahead. "...we continue to invest, we continue to invest in talent, we continue to invest in research, into innovation, into branding and into IT. And we don't believe there should be any reason for that to be any different from what we have always done," .

Once we make a job offer, we honour it: TCS outgoing CEO & MD Gopinathan

The US has turned out to be surprising and hence difficult to call out for the short term, says Rajesh Gopinathan

TCS, Infosys results signal subdued Q4 for IT pack, say experts

The results of top-tier companies TCS and Infosys have tripped on global uncertainties and missed street estimates, setting a subdued tone for Q4 show by the IT pack, and experts see choppy 1-2 quarters for the industry but are hopeful of subsequent recovery. The earnings' season started on a sombre note with the Q4 scorecards that fell short of expectations, but more importantly the management commentary of India's top two IT services companies was punctuated with words of caution about prevailing customer sentiments across BFSI, technology services and certain other verticals, particularly in the US. While Infosys top brass spoke of "unplanned project ramp downs and decision making delays by some customers", Tata Consultancy Services (TCS) talked of some clients deferring newer, non-critical initiatives. Industry veteran and former Infosys director T V Mohandas Pai says Q4FY23 will be subdued for IT players but that extent and impact will depend on profile and strategy of individu

See very good opportunities in merger and acquisitions: Infosys CEO

The current environment is throwing up "good opportunities in the merger and acquisition space", Infosys CEO Salil Parekh has said, adding the Bengaluru-headquartered IT firm will look at companies that offer strong strategic and cultural fit. While Infosys is on "look out at all times" for good acquisitions, "this is a good environment for finding it", Parekh said. Infosys is seeing "very good opportunities" in the M&A environment, he observed. "...and this is a good environment. We have a very strong balance sheet, a very good way to deploy it. If we find a company or an entity which fits in strategically but also culturally, and we have a way of integrating it, we will look at that," Infosys top honcho said during the Q4 earnings conference recently. He was responding to a question on whether the weak US macro environment and the global uncertainities are offering lucrative opportunities in the merger and acquisition space. Infosys this week reported lower-than-expected growth

TCS Q4 review: Near-term growth to moderate, demand levers intact: Analysts

TCS Q4 results review: Going ahead, most brokerages expect an inevitable slowdown for the company in the near-to-medium term

Bull run enters 9th day for benchmarks; IT shares crack; AU SFB soars 17%

CLOSING BELL: IDBI Bank shares, too, surged 10 per cent after a Reuters report said the RBI has begun evaluating at least five potential bidders interested in picking up a majority stake in the lender

Client conversations dominated by ChatGPT, says TCS COO Subramaniam

He also said that clients are interested in knowing how ChatGPT and generative AI can be integrated into their offerings

TCS Q4 net up 15% to Rs 11,392 cr; meets estimates but revenue disappoints

Revenue for Q4FY23 grew 16.9% YoY to Rs 59,162 cr, but missed Bloomberg estimate

TCS blames US financial crisis for weak fourth quarter results

"The quarter has come out weaker than what we originally anticipated and primarily coming out of North America," TCS CEO Rajesh Gopinathan said in a media conference

Krithivasan to take charge as TCS's new CEO and MD from June 1

He will take over the charge from Rajesh Gopinathan, who last month decided to step down as MD and CEO of IT giant to pursue other interests

TCS attrition rate drops to 20.1%, remains far from pre-pandemic levels

The total headcount of TCS stands at 614,795 as on March 31, 2023

TCS Q4 Results: Net profit up 14.8% at Rs 11,436 cr; dividend Rs 24 a share

The net profit for Q4FY23 has increased by 14.8 per cent on a year-on-year (YoY) basis from Rs 9,959 crore in Q4FY22

Sensex rises 235 pts, Nifty tops 17,800 in fag-end; Divis Labs zooms 10%

CLOSING BELL: Among sectors, the Nifty Pharma index leaped over 2 per cent today as India saw over 7,000 fresh cases of Covid-19

Stocks to Watch: TCS, HDFC Bank, Adani Ent, Sugar, Paras Defence, BHEL

Stocks to watch today: Lenders of debt-ridden Reliance Capital (RCap) have fixed April 26 as the new date for the second auction. As per the earlier schedule, it was to be held on April 11

TCS Q4 Preview: Revenue may rise up to 18% YoY; EBIT margin seen at 25%

Brokerages expect TCS deal wins to be strong in a broad range of $7-10 billion in Q4, while hiring is likely to be muted

FAITH urges govt to withdraw TCS hike on packages announced in Finance Bill

Tourism and hospitality body FAITH on Tuesday urged the government to roll back the increase in Tax Collected at Source on overseas tour packages announced in the Finance Bill 2023. The Finance Bill, through the Budget 2023-24, amended Section 206C of the Income Tax Act levying a higher Tax Collected at Source (TCS) on overseas tour programme packages at 20 per cent from 5 per cent imposed earlier. According to the Federation of Associations in Indian Tourism & Hospitality (FAITH), "such a move has put domestic tour operators at a disadvantage as the bookings are moving to foreign tour operators as they are not liable to deduct this charge". "FAITH board pleads to government not just roll back the TCS rate to 5 per cent, but rather reduce it to 2.5 per cent so that more and more people book their foreign trip through tour operators based in India and the avowed objective of bringing more people into the tax net is also met," it stated. The body argued that raising of TCS has ...

Infosys to open campus in Kolkata to bring office closer to talent pool

Infosys is taking these steps to minimise inter-city travel for its employees and provide them with greater flexibility

Renesas exploring local production of chipset in partnership with TCS

Semiconductor company Renesas is exploring local production of chipsets that the company is developing in partnership with leading software company TCS, a senior official of the company said. Last month, Tata Consultancy Services (TCS) and Renesas Electronics Corporation (Renesas) opened a joint Innovation Center in Bengaluru and Hyderabad to jointly develop semiconductor chipsets for wireless technologies, industrial technologies etc for the global market. Renesas, Executive Vice President and General Manager, IoT and Infrastructure Business Unit, Sailesh Chittipeddi told PTI that the collaboration is on the lines of "Make in India to make for the world". "Partnership with TCS will start bearing fruit in 2 years in the form of semiconductor chipsets and system solutions for both Indian and global markets. We aim to explore pathways to locally produce these chips as part of the Make in India initiative with partnerships," Chittipeddi said. Renesas gets most of its semiconductor mad

Five of top 10-firms lose Rs 86,447 cr in m-cap; Infosys, TCS, SBI hit hard

Five of the top 10 most valued firms together lost Rs 86,447.12 crore in market valuation last week, with Infosys, Tata Consultancy Services and State Bank of India taking the biggest hit. Last week, the BSE benchmark fell 462.8 points or 0.79 per cent. While Reliance Industries Limited, Tata Consultancy Services (TCS), HDFC Bank, Infosys and State Bank of India suffered erosion from their valuation, ICICI Bank, Hindustan Unilever Limited, ITC, HDFC and Bharti Airtel posted gains. The market capitalisation (mcap) of Infosys tumbled by Rs 25,217.2 crore to Rs 5,72,687.97 crore. The valuation of State Bank of India fell Rs 21,062.08 crore to Rs 4,51,228.38 crore, and that of TCS tanked Rs 21,039.55 crore to Rs 11,42,154.59 crore. The mcap of Reliance Industries declined by Rs 13,226.53 crore to Rs 14,90,775.40 crore, and HDFC Bank dipped Rs 5,901.76 crore to Rs 8,71,416.33 crore. However, ICICI Bank added Rs 10,905.18 crore, taking its valuation to Rs 5,94,888.25 crore. The valuat