The goal is to achieve scale and exponential growth in each platform, according to Krishnan Ramanujam, the president of business and technology services at TCS.
The sale would help Deutsche reach its goal of shedding 18,000 staff overall to cut costs and restore profitability
Financial services and retail business verticals drive recovery at big four IT companies. While companies also saw good deal wins, managements warned that the December quarter may see some seasonal softness
Over the past few years, Indian IT firms have significantly increased hiring in the US and other international markets as these countries have taken steps to tighten their work visa regimes.
In addition, promotions that started in the second quarter at the junior level will be expanded to all levels, Infosys said.
After a swift rally of more than 1000 points, a mild pullback cannot be ruled out. Though the outlook on the market is still bullish and traders are suggested to keep a buy on dips approach.
He added that the margin aspirations that the company has are real and achievable
Among listed Indian companies, TCS is only behind Reliance Industries in terms of market capitalisation which is at nearly USD 215 billion.
In this edition of Ideas for Profit, Moneycontrol's Sakshi Batra decodes the second-quarter performance of India's biggest software service provider and what makes it a must-own portfolio stock
Emkay Global Financial recommended hold rating on TCS with a target price of Rs 2780 in its research report dated October 08, 2020.
TCS, retail cluster outperformed during the quarter despite continuous weakness in discretionary retail CPG and travel and hospitality sub vertical.
TCS is rolling out salary increments effective October and details of which are being worked out. These increases would be applicable across the job bands
TCS' Consolidated revenue from operations for the quarter stood at Rs 40,135 crore, higher than the Rs 38,322 crore reported in the June quarter of FY21 and a CNBC-TV18 poll of Rs 39,330 crore
In 2018, TCS had undertaken a share buyback programme worth up to Rs 16,000 crore. The buyback, at Rs 2,100 per equity share, had entailed up to 7.61 crore shares. In 2017, too, TCS had undertaken a similar share purchase programme.
Adjusted profit growth was strong at 20.3 percent to Rs 8,433 crore (excluding legal claim provisions) led by revenue growth and margin expansion.
The company board will meet later this week, on October 7, to consider a share buyback proposal.
The board is also slated to consider its financial results for the September quarter and declaration of a second interim dividend to the equity shareholders at that meeting.
As the first CEO of TCS, which pioneered India’s 'Technology Revolution' and helped the country to build the $100 billion+ IT Industry, Kohli, 97, is referred to as the "Father of the Software Industry".
This tax was proposed in the Union Budget 2020 and will be applicable from October 1
The $150-million programme aims to upskill the workforce in the areas of information technology and cybersecurity, and advanced manufacturing and transportation. Experts say there is no direct benefit to the IT sector as the programme plans to impart skills to the local workforce.
The market valuation of Reliance Industries Limited tumbled Rs 70,189.95 crore to Rs 14,88,797.82 crore.
Introduced in 2018, NQT last year saw more than 3.6 lakh students participating from over 2,600 colleges.
TCS is the second company after Reliance Industries to cross the Rs 9 lakh crore market capitalisation.
Out of around 685 exempted establishments, 3,04,681 EPFO members withdrew Rs 3,128 crore from their EPF accounts in Q1FY21.