Page 8 - Tcs

DoT's interministerial committee makes headway in developing 5G use cases

The DoT is directing the inter-ministerial committee to explore the incorporation of the benefits of 5G technology into public infrastructure.

Will margin pressures end the Indian IT sector's glory days?

Indian IT companies are experiencing margin pressure. This has forced leading IT firms to reduce or withhold employee bonuses. How long will IT companies face this pressure? Is there a solution to it?

'Warm and friendly person': TCS condoles Cyrus Mistry's demise in accident

In a statement, the company described Mistry as "a warm and friendly person"

TCS changes its hike structure, does away with anniversary hikes

The changes come at a time when the industry is seeing demand constraints from its majority market and budgets are under pressure and deals are taking time to close

IT firms increase scrutiny of employees amid moonlighting trend: Report

IT firms now have started to clamp down on such activities, as the companies think moonlighting affects employees' productivity and creates conflicts of interest

Nifty IT slips nearly 5% in a bearish market; Tech M, Infosys fall up to 6%

In the past eight days, the Nifty IT index has slipped 10 per cent, as compared to 4 per cent decline in the Nifty 50 index

Mcap of seven of top-10 valued firms tumbles over Rs 1.54 trilion

Seven of the top-10 valued firms suffered a combined erosion of Rs 1,54,477.38 crore in market valuation last week, with IT majors Tata Consultancy Services and Infosys emerging as the biggest laggards. Last week, the BSE benchmark index tanked 812.28 points or 1.36 per cent. Reliance Industries Limited, ICICI Bank and State Bank of India were the only gainers in the top-10 pack. The market valuation of Tata Consultancy Services (TCS) plunged Rs 59,862.08 crore to Rs 11,78,818.29 crore. The valuation of Infosys tanked Rs 31,789.31 crore to Rs 6,40,351.57 crore. HDFC Bank's valuation declined by Rs 16,090.67 crore to Rs 8,13,952.05 crore and that of Hindustan Unilever fell by Rs 14,814.18 crore to Rs 6,04,079.91 crore. The market capitalisation (mcap) of Bajaj Finance declined by Rs 14,430.4 crore to Rs 4,27,605.59 crore and HDFC by Rs 13,031.62 crore to Rs 4,34,644.36 crore. The valuation of Life Insurance Corporation (LIC) dipped Rs 4,459.12 crore to Rs 4,29,309.22 crore. On t

Falling margins, high attrition, moonlighting causing trouble for IT sector

Wipro, one of the four IT majors in India, announced that it will withhold the variable pay of mid, and senior-level employees for the June qtr (Q1FY23) due to poor financial health

Sensex tanks 709 pts from day's high, ends 311 pts down; Nifty holds 17,500

F&O Expiry: 25 of the 30 Sensex constituents and 34 of the 50 Nifty constituents ended in the negative territory including Adani Ports, Bajaj Finance, IndusInd Bank, Infosys, TCS, Axis Bank, and HDFC

Slowdown in hyper-scalers could impact the revenue of the IT companies'

Major IT companies in India including Tata Consultancy Services (TCS), Wipro, Infosys and HCL earn nearly 50 per cent of their revenue from digital solutions supported by hyper-scalers like AWS, Azure

Stocks to watch: TCS, Wipro, Future Ent, IDBI Bank, Adani Green, ONGC, NHPC

Stocks to watch today: Canara Bank plans to raise up to Rs 3,500 crore through tier II bonds; TCS clarified that it would pay 100 per cent of variable payout in the June quarter of FY23.

Employees will get 100% variable pay for June quarter, no delay: TCS

So far, more than 90 per cent of TCS employees have received the variable payout, according to the largest software exporter in India.

CBDT exempts non-resident corporates from TCS on remittances, tour packages

The income tax department has exempted non-resident corporate entities and firms not having a permanent establishment or a fixed place of business in India from 5 per cent TCS on foreign remittances and tour packages. The Central Board of Direct Taxes (CBDT) has notified changes to I-T rules and expanded the scope of exemption (that was previously available only to non-resident individuals) under section 206(1G) of the I-T Act. Section 206C(1G) was introduced by Finance Act, 2020, effective October 2020 to keep a tab on forex spends by persons resident in India. The provision requires tax to be collected at source (TCS) at the rate of 5 per cent on foreign remittances of Rs 7 lakh or more under the Liberalized Remittance Scheme (LRS) of RBI. The TCS was to be deducted by domestic tour operators on money received from non-resident Indians visiting India and booking their overseas tour package from the country. AMRG & Associates Director (Corporate & International Tax) Om ...

Cognizant Q2 profit up 12.7% at $577 mn, lowers revenue guidance

Revenue was at $4.9 billion, up 9.5 per cent in constant currency on a year-on-year (YoY) basis

TCS to digitise HR operations for Marks & Spencer in multi-year deal

TCS, as a strategic partner for more than a decade, migrated 27 million records of M&S employees working across 1,450 locations in the UK

What do Q1 IT earnings tell us about the sector's health?

The Q1 results of IT companies were disappointing as the profitability margins came lower than estimated. With a US recession on the horizon, are there reasons to worry about the IT sector's health?

'A true gentleman': TCS condoles demise of former CFO V Ramakrishnan

V Ramakrishnan was the CFO of TCS since 2017 and retired from the position in April 2021

Vedanta to pay out Rs 7,250 cr on second interim dividend at Rs 19.5/share

So far, the company's dividend payout in FY23 stands at Rs 18,960 crore, ahead of FY22 total dividend of Rs 16,740 crore

Here's why Mehul Kothari recommends buying TCS, L&T Technology Services

According to the technical analyst from Anand Rathi, TCS can target Rs 3,200 on the upside, while L&T Technology Services can rally to Rs 3,450.

Q1 impact: Mindtree eyeing 23% upside; HDFC Bank faces hurdle, charts show

Shares of Mindtree seem fairly placed and can rally up to 23 per cent, while ACC, HDFC Bank and ICICI Prudential Life need to conquer key levels for a fresh rally to emerge.