TCS | Pixr8 News

16May By PriyankaNo Comments

News

TCS CEO’s Annual Pay Rises 28% in 2018

Tata Consultancy Services CEO Rajesh Gopinathan took home a pay package of over Rs 16 crore last fiscal, an increase of almost 28 percent compared to the previous year, the company's annual report showed. Gopinathan's compensation included Rs 1.15 crore in salary, Rs 1.26 crore in perquisites, Rs 13 crore in commission and over Rs 60 lakh in other allowances - all of which added to the remuneration of Rs 16.02 crore. In 2017-18, his compensation was Rs 12.49 crore. TCS chief operating officer N Ganapathy Subramaniam earned over Rs 11.61 crore in FY19 as compared to Rs 9.29 crore last fiscal. His pay package swelled 24.9 percent during the period. Ramakrishnan V, TCS' chief financial officer, took home a Rs 4.13 crore package in FY19. The Mumbai-based company said the average a...

23Apr By reutersNo Comments

INDIA

TCS signs a deal with India Post to transform country’s mail delivery system

India's largest IT services company, Tata Consultancy Services (TCS), has partnered with the Department of Posts in a bid to transform it into a multi-service digital hub, modernise the delivery of mail and packages, enhance customer experience, and launch innovative services that will drive new revenues. At the heart of this transformation is the Core System Integration (CSI) program designed and implemented by TCS. This involved deploying an integrated ERP (enterprise resource planning) solution that caters to mail operations, finance and accounting, and HR functions, and connects its vast network of more than 150,000 post offices, making this the largest distributed ePostal network in the world. The integrated solution is built to cater to the Department’s immense scale, and fut...

This Company close to become India’s first $100 bn Market Cap Company

7Jan By PriyankaNo Comments

News

This Company close to become India’s first $100 bn Market Cap Company

Shares of Tata Consultancy Services (TCS) jumped 6.5 per cent last week after the company reported a 4.4 per cent rise in March quarter net profit and guided towards a better show in fiscal 2019. This has taken its market capitalisation (m-cap) to over Rs 6.50 lakh crore or around $98 billion.With this, the IT major emerges as the first Indian company with a market capitalisation of close to $100 billion. The stock, after making a positive opening, further soared 6.55 per cent to hit its 52-week high of Rs 3,399.90 on BSE. On NSE, shares of the company surged 6.54 per cent to its one-year high of Rs 3,399.90. The company's quarterly results were announced post market hours yesterday. The stock was the biggest gainer on both key indices, Sensex and Nifty. The firm's market valu...

IT Firm TCS Buys Out Consulting Company BridgePoint

29Nov By Gauri SinghNo Comments

ACQUISITION

IT Firm TCS Buys Out Consulting Company BridgePoint

The popular IT services company TCS has reportedly acquired a consulting firm specializing in retirement services known as BridgePoint Group. The financial details of the deal have not been disclosed. The company stated that the acquisition would boost its financial services and insurance domain knowledge, particularly in the area of US retirement services. “The US retirement business is complex, so BridgePoint’s deep industry expertise and team of highly experienced consultants will enable TCS to develop a robust customer-focused retirement services business,” Suresh Muthuswami, President & Global Head, BFSI Platform, TCS said in a statement. It was earlier this month that TCS acquired London-based W12 Studios which was its first digital acquisition. On the other hand, the acq...

IT Major TCS Acquires a London-based Digital Design Company

2Nov By Gauri SinghNo Comments

ACQUISITION

IT Major TCS Acquires a London-based Digital Design Company

The global leader in IT services TCS Consultancy has reportedly acquired a London-based digital design company known as W12 Studios. The financial details of the deal have not been disclosed. This marks as the company’s first acquisition in about four years. With a proper strategy and not following the path of its rivals, TCS stated that it would only look at acquisitions for truly niche technologies, preferring to build the talent in-house. On the other hand, Cognizant, Infosys and Wipro have made a number of digital acquisitions over the last few years. Also, this acquisition signifies that TCS is open to acquisitions instead of only building technologies and talent in-house. Prior to this, the IT major last invested $50 million in a joint venture with Mitsubishi Corp. in Japan in ...

Three of Top 10 Indian Firms lost Rs 1 trillion in m-cap

15Oct By Gauri SinghNo Comments

BUSINESS

Three of Top 10 Indian Firms lost Rs 1 trillion in m-cap

Three of the top 10 and India’s most valued companies together saw a dissolution of ₹1,07,026.12 crore in market capitalisation last week where IT major TCS took the biggest knock. The three companies that witnessed the same were Tata Consultancy Services (TCS), ITC and Infosys. The firms suffered a decline in their valuation for the week ended on Friday. On the other hand, RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, SBI, Kotak Mahindra Bank and Maruti Suzuki India ended with gains. Altogether, the erosion suffered by the three companies was higher than the combined gain of Rs 97,498.38 crore that was made by the rest of the seven firms. The valuation of TCS plunged by Rs 85,330.17 crore Rs 7,19,857.48 crore. On the other hand, the market cap of Infosys slumped ₹18,696.68 ...

TCS Establishes New Delivery Centre In Paris

20Jun By Gauri SinghNo Comments

BUSINESS

TCS Establishes New Delivery Centre In Paris

The Indian multinational IT company Tata Consultancy Services (TCS) announced on Monday that it has set up a new delivery centre in Suresnes, France that can accommodate up to 230 employees. Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to the global business. It is a subsidiary of the Tata Group and has its headquarter in Mumbai. TCS is among the most valuable IT services brands globally. This centre is the third such unit of TCS in France which is situated in the Parisian region. The first two are in Lille which was opened in 2012 and Poitiers opened in 2014. The new centre consists of a highly secure connectivity, a robust infrastructure and secure spaces. However, the company did not disclose the investment ...

TCS Becomes India’s First $100 Billion Company

23Apr By Lavina TolaniNo Comments

Market

TCS Becomes India’s First $100 Billion Company

India's largest IT giant, TCS has now become the country's most valued firm in terms of market capitalization as it market cap crossed the crucial USD 100 billion mark ( approximately Rs. 6.60 lakh crore) on Monday. The company has successfully superseeded Accenture's market cap which was at USD 98 billion. TCS's market cap now stands at the zenith and exceeds more than that of all other IT companies together. The company had become a USD 25 billion backed firms in 2010 and has never looked back since. It successfully crossed the USD 50 billion mark in 2013, followed by the USD 75 billion mark in 2004. The upsurge in IT major's script fortune has come just after it recorded a rise of 4.5 percent in Q4 profit. To recap, In the firs...

TCS Launch Business 4.0, Target $5 Billion Digital Revenue

23Apr By Lavina TolaniNo Comments

News

TCS Launch Business 4.0, Target $5 Billion Digital Revenue

Tata Consultancy Services Ltd, India's largest IT firm is betting big on 'Business 4.0' to propel its revenues from new age-technologies like automation, cloud, and the Internet of Things to over $5 billion this year. Rajesh Gopinathan, MD, and CEO at TCS reported, There are numerous components of digital technologies, there is cloud, automation, analytics, IoT. People have been looking to various technologies each of which has its own value and importance, the point, however, lies in the fact how one stitches them together helping in business growth. Business 4.0 is a thought based leadership framework that helps customers leverage digital technologies to direct their growth and transformation agendas, as told by CEO Rajesh Gopinathan. While asserting the fact that TCS is not a 'd...

TCS Records Highest Q4 Performance, Rewarded 1:1 Bonus Share

20Apr By Lavina TolaniNo Comments

Market

TCS Records Highest Q4 Performance, Rewarded 1:1 Bonus Share

Country's largest IT firm, Tata Consultancy Services March Quarter(Q4) earnings reported a stellar performance on Thursday beating all expectations that analysts had estimated both on revenue and profitability. This double-digit growth quarter has come after the backdrop of 13 straight quarters of underperformance and the board members of Mumbai based company immediately rewarded shareholders with one on one bonus issue establishing the final dividend of Rs. 29 per share. The Mumbai based IT giant has posted a consolidated profit at Rs. 6,904 crores for Q4 quarter registering a 5.7 percent growth as compared to 4.5 percent (Rs. 6531 crores for the previous quarter) in the previous year. The Tata Group firm has reported a consolidated profit at Rs 6,904 cr...

13Mar By NitishNo Comments

Market

Tata Selling TCS Shares, Shares Down 6%

After the news of Tata selling some part of Tata Consultancy Services (TCS) shares, the market has not responded positively. The shares of TCS has fallen nearly 6% at the end of today. As per the following reports that Tata Sons is planning to raise around Rs 8,200 crore by selling a stake in the IT major. The stock declined 5.46 per cent to Rs 2,885.20 on BSE. The promoter of major operating companies of the Tata group, Tata Sons is planning to raise around Rs 8,200 crore by selling the stake in IT major TCS, according to investment banking sources. The funding will use to clear out the debts on Tata group. ALSO READ: TCS will not Leave Lucknow- Tata Group Chief The stock was the worst hit among the bluechips on both Sensex and Nifty during the morning trade. The tr...

TCS will not Leave Lucknow- Tata Group Chief at UP Investors Summit

22Feb By NitishNo Comments

News

TCS will not Leave Lucknow- Tata Group Chief at UP Investors Summit

Natarajan Chandrasekaran, Tata Group chief assured UP CM Yogi Adityanath that TCS has no plan to leave the Lucknow at up investors summit 2018 inaugural session. “TCS will not leave Lucknow. On the contrary, it will increase its footprint in UP. We want to strengthen our presence in UP,” says N Chandrasekaran. He also said that TCS is looking forward to build a new campus to hire 30000 people from state. "We have a holistic presence in UP. Tata Motors is here, TCS has a large presence, Tata Projects have been significantly present here," he added. He added Tata Group will not be confined to any particular sector but will help the state grow across all sectors. "We are extremely keen to participate in the growth of UP across sectors such as manufacturing, IT , infra etc,...