Tata Consultancy Services, country’s largest software services firm, gained over 2% to Rs 2,605 in intraday trade on Friday after the company reported 2.16% year-on-year drop in net profit at Rs 6,446 crore, while revenue grew 4.3% to Rs 30,541
Since July 13, 2017, post April-June (Q1FY18) results, the stock was marginally up by 0.63% against 0.35% decline in the benchmark S&P BSE Sensex till Tuesday.
Tata Group, the Indian conglomerate that manages more than 100 operating companies, is weighing a plan to streamline its information technology and infrastructure businesses, people with knowledge of the matter said.
Information technology (IT) sector was in focus on Friday, with the NiftyIT index falling over 1% after two of its biggest constituents, Infosys and TCS, announced their Q1FY18 results.
Tata Consultancy Services (TCS) dipped nearly 3% to Rs 2,376 on BSE in intra-day trade after the company’s EBIT (earnings before interest and tax) margins in June quarter (Q1FY18) declined to 23.4%, down 230bps QoQ and 170bps YoY.
Tata Consultancy Services (TCS) saw its first quarter profit drop 5.8 per cent to Rs 5,950 crore due to currency fluctuations and wage hikes as the banking and financial services and retail businesses slowed.
Since the beginning of April 2016, 69 companies have proposed or undertaken buybacks of shares worth Rs 58,592 crore (see table). Currently Engineers India has announced one worth Rs 658.8 crore.
India's largest IT services company Tata Consultancy Services (TCS) will collaborate with chipmaker Intel to design a reference architecture that could be used for rolling out Internet of things (IoT), cloud, 5G and AI by its customers.
Tata Tata Consultancy Services (TCS) expects to earn revenues of about $1 billion each from several emerging technology segments over next three to seven years.
Shares of information technology (IT) companies were in focus with the Nifty IT and S&P BSE IT index gaining more than 2% in an otherwise range-bound market.
Tata Consultancy Services, India's largest IT firm, offered a more than 31 per cent hike in remuneration to its key managers at a time when the rest of the company's employees received average salary increase of around 10 per cent.
Executive search firm Head Hunters India said the job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for next three years due to under-preparedness in adapting to newer technologies.
Mukesh Ambani-led Reliance Industries on Friday regained its status as India's most valued firm by market capitalisation, overtaking Tata Group's crown jewel TCS.
Tata Consultancy Services (TCS) was up 1.7% to Rs 2,348 at 09:34 am; bouncing back 4% from its two-months low touched in early morning trade on BSE post March quarter results (Q4FY17).
Tata Consultancy Services (TCS), India’s largest software exporter, said on Tuesday both fourth quarter (Q4) profits and revenues grew 4.2 per cent to Rs 6,608 crore and Rs 29,642 crore, on the back of improved digital business, but currency
