C-DOT, which has tied up with TCS, is expected to export telecom equipment by 2024
Indian IT players like TCS, Infosys, Wipro, HCL Technologies, Mphasis, and LTIMindtree have exposure to some of the troubled banks
What does Gopinathan's exit mean for TCS? Is angel tax making India less attractive? What does Jim Rogers think of the global banking crisis? What is the m-cap to GDP ratio? All answers here
Market capitalisation (m-cap) of the top-10 most valued companies eroded by over Rs 2.09 lakh crore last week, with Reliance Industries and TCS taking the biggest hit amid an overall weak trend in equities. On a weekly basis, domestic equity benchmarks witnessed heavy selling. The 30-share BSE Sensex plummeted 1,145.23 points or 1.93 per cent. Corporate major Reliance Industries' m-cap plunged Rs 67,722.33 crore to Rs 15,04,001.93 crore. IT bellwethers TCS' market valuation tumbled Rs 55,654.17 crore to Rs 11,63,194.14 crore and that of Infosys nosedived Rs 21,250.8 crore to Rs 5,97,905.17 crore. The valuation of State Bank of India (SBI) diminished by Rs 16,108.93 crore to Rs 4,72,290.46 crore and that of ITC tanked Rs 15,226.12 crore to Rs 4,66,696.21 crore. M-cap of telecom major Bharti Airtel slumped by Rs 9,053.44 crore to Rs 4,22,177.07 crore and that of HDFC Bank declined by Rs 8,982.11 crore to Rs 8,77,318.09 crore. HDFC also witnessed a dip of Rs 8,063.79 crore in its ma
Large IT firms are witnessing changes at the top
The company has nominated Tata Group veteran K Krithivasan as CEO-designate, effective immediately
'You can always look at any number as a parameter and create a trend. It's more like horses for courses'
Top Indian information technology firms Tata Consultancy Services and Infosys have the highest exposure to regional banks in the United States that are gripped by a financial turmoil
Gopinathan said TCS is the market leader in its space, and has given industry-leading results
Krithivasan's time of taking over is interesting, especially with the agenda already being set
Analysts say the stock price could turn volatile in the near-term as the development comes amid a challenging macro-environment including fears of a potential recession in the US
CLOSING BELL: IT major TCS ended marginally in red amid high volatility a day after Gopinathan's resignation. In the broader markets, realty stocks also ended with solid gains.
The board has nominated K Krithivasan as CEO designate with effect from March 16, 2023.
Rajesh Gopinathan, the outgoing TCS CEO, said that Krithivasan was chosen by the board and Tata Group chairman N Chandrasekaran
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TCS CEO Gopinathan resigned on March 16 and will be replaced by company veteran K Krithivasan
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Chennai, his base, is one of the biggest centres for TCS in terms of talent
Krithivasan shall take over as the CEO and MD of TCS in the next financial year
Retained its edge in terms of Ebitda or operating margins over industry peers