Page 5 - Tata Consultancy Services
With Europe slowing, TCS says North America to drive its growth in FY23
The IT major indicated that clients in Europe are more cautious on tech spends given the possibility of deeper recession and ongoing conflict in Eastern Europe, leading to delays in decision making
 "With Europe slowing, TCS says North America to drive its growth in FY23")
No signs of slowdown in attrition at TCS; firm says it has enough hands
TCS which had shared in Q4 of FY22 the hiring target of 40,000 for FY23, said the target remains
Tata Tech plans IPO by fiscal-end, the first by Tata group in 18 years
The company is in talks with several banks, including Citibank, to manage the share sale; The last share sale by a Tata firm was in 2004, when TCS floated an IPO
 "Tata Tech plans IPO by fiscal-end, the first by Tata group in 18 years")
TCS beats street estimates with 16.2% Q1 revenue growth; margins disappoint
The consolidated revenue of the IT major grew to Rs crore in the quarter under review from Rs 45,411 crore a year ago
 "TCS beats street estimates with 16.2% Q1 revenue growth; margins disappoint")
Top headlines: TCS beats street estimates, ED fines Amnesty India, and more
TCS' net profit grew 5.2 per cent year on year, and 2.5 per cent sequentially to Rs 9,478 crore in Q1FY23, but missed estimate of Rs 9,850 crore
TCS Q1FY23 results today: How the IT giant performed in last four quarters
TCS's demand commentary could be strong even as margin may be hit due to wage hikes, according to Motilal Oswal
 "TCS Q1FY23 results today: How the IT giant performed in last four quarters")
TCS Q1 revenue may rise up to 16% YoY, say analysts. What brokerages expect
Analysts expect EBIT margin to decline sequentially due to higher retention costs, wage revision, and increased travel costs. They peg margins in the range of 100 to 150 basis points (bps).
Goldman Sachs sees Kotak Mahindra Bank entering $100-bn club by FY27
Shares of Kotak Bank rose 2.64 per cent on Wednesday to end at Rs 1,707, valuing the lender at $42.8 billion (Rs 3.4 trillion)
 "Goldman Sachs sees Kotak Mahindra Bank entering $100-bn club by FY27")
Hybrid or WFO, rising coronavirus cases haven't disturbed India Inc
Alert to Covid situation, companies across sectors are continuing with existing work models for now
 "Hybrid or WFO, rising coronavirus cases haven't disturbed India Inc")
Japanese chip maker Renesas Electronics broadens tie-up with Tata group
Inks partnership with Tata Motors and Tejas Networks, plans innovation centre with TCS
 "Japanese chip maker Renesas Electronics broadens tie-up with Tata group")
Adjustment Day: Fine 'rebalancing' act for Nifty indices on Wednesday
The quarterly recapping of Nifty indices takes into account the changes in free-float market capitalisation (m-cap) of companies and realigns their weighting
 "Adjustment Day: Fine 'rebalancing' act for Nifty indices on Wednesday")
Tata group's Infopark Properties raises Rs 1,900 cr via zero coupon bonds
Infopark Properties will own 100% of shareholding in TRIL Infopark Ltd which operates the asset Intellion Park, Chennai, spread over an area of 4.6 mn sq ft
 "Tata group's Infopark Properties raises Rs 1,900 cr via zero coupon bonds")
Adani Group fastest in valuation growth at 88%, Ambani's RIL up 13%: Report
Tata Consultancy Services came second at Rs 12.97 lakh crore despite a 0.9 per cent decline in value, and was followed by HDFC Bank, Infosys and ICICI Bank
 "Adani Group fastest in valuation growth at 88%, Ambani's RIL up 13%: Report")
TCS sees fall in staff attrition, robust demand for IT services: Top exec
More tech talent is expected to enter the job market from startups facing funding crunches, as central banks withdraw stimulus and hike rates: Girish Ramachandran
Mcap of 3 of top-five valued firms jumps Rs 1.78 trn; Reliance lead gainer
In the ranking of top-five valued firms, Reliance Industries was leading the chart, followed by Tata Consultancy Services, HDFC Bank, Infosys and Hindustan Unilever.
 "Mcap of 3 of top-five valued firms jumps Rs 1.78 trn; Reliance lead gainer")
TCS CEO Gopinathan's salary up 26.6% in FY22, firm rejigs business groups
Average annual salary increase for TCS employees was in the range of 5-8 percent in India, says annual report.
 "TCS CEO Gopinathan's salary up 26.6% in FY22, firm rejigs business groups")
How Infosys regained its mojo, improved employee morale under Salil Parekh
Salil Parekh has brought the company back to a healthy growth trajectory, improved employee morale and won the promoters' trust as well as investor confidence
 "How Infosys regained its mojo, improved employee morale under Salil Parekh")
TCS aims to be world's largest IT company; says large-scale ops not a worry
The comments from the TCS chief are significant because this means that the Tata Group would displace Accenture which had reported over $50 billion in revenue last year
 "TCS aims to be world's largest IT company; says large-scale ops not a worry")
Tata Consultancy Services head doubles down on $50-bn revenue target
Since April 1, TCS has changed its organisational structure to align with its strategy of focusing on the growth and transformation agenda.
TCS CEO vows to navigate IT giant through global tumult, attrition
TCS, the largest player in India's $227 billion tech services industry, must deal with a host of challenges, from Covid outbreaks in China that are disrupting supply chains to the war in Ukraine
 "TCS CEO vows to navigate IT giant through global tumult, attrition")
