Tata Consultancy Services

TCS logs marginal dip in December quarter net profit at Rs 5,328 crore

N ChandrasekaranMumbai: Country's largest software exporter TCS on Thursday reported a marginal dip in net profit at Rs 5,328 crore in December quarter due to lower margins, a tepid performance compared to rival Infosys that beat market expectations to log 13 per cent jump in profits.

The Tata group firm had posted a post-tax profit of Rs 5,333 crore under the IGAAP system of accounting in the December quarter last year, while its profit in the preceding September quarter stood at Rs 5,244 crore.

TCS' operating margin dipped by 2.88 percent as compared to last year, to 26.9 percent, but was up 0.21 percent over the preceding September quarter.

TCS joins US-based IT industry body

Tata Consultancy ServicesWashington : Tata Consultancy Services, India's largest infotech company, has joined the US-based Information Technology Industry Council (ITI), a leading IT services, consulting and business solutions organisation, it was announced Monday.

ITI advocates on behalf of its 60 members for global policies that advance industry leadership in technology and innovation, open access to new and emerging markets, promoting e-commerce expansion, driving sustainability and efficiency, protecting consumer choice, and enhancing the worldwide competitiveness of its member companies.

TCS opens Saudi Arabia's first all-woman BPO centre

TCSMumbai: India's largest software exporter TCS on Sunday said it has opened Saudi Arabia's first all-female business process centre, which will provide employment to up to 3,000 women in three years.

Saudi Aramco and GE are the centre's first customers, TCS said in a statement here.

Both the clients have already surpassed their target of recruiting 100 women each, while the total number of those employed at the centre stands at 300, it said.

The Riyadh-based 3,200-sq mt facility will offer customers specialised finance and accounting, human resources, materials supply and office services to improve their operational efficiency, it said.

The centre was announced in September last year.

5 Indian firms among Forbes' most innovative companies

5 Indian firms among Forbes' most innovative companiesNew York - Five Indian companies, including Hindustan Unilever and Tata Consultancy Services, are among Forbes' list of the world's 100 most innovative companies that investors think are most likely to "generate big, new growth ideas".

The annual 'World's Most Innovative Companies' list, released yesterday, has been topped by California-based global cloud computing company Salesforce for the fourth year in a row.

TCS market value crosses Rs 5 lakh crore

Tata Consultancy ServicesMumbai: Software giant Tata Consultancy Services (TCS) on Wednesday attained a market valuation of over Rs 5 lakh crore for the first time, helped by a rally in the stock.

The market capitalisation (m-cap) of TCS surged to Rs 5,03,148.25 crore, the highest for the company since its listing in 2004.

In dollar terms, TCS' market valuation rose to USD 83 billion.

Interestingly, TCS's current market capitalisation is higher than the combined valuation of Infosys (Rs 1,90,103.75 crore), HCL Technologies (Rs 1,08,069.20 crore), Wipro (Rs

TCS, Mitsubishi to set up software services firm in Japan

Tata-Consultancy-Services-MitsubishiMumbai, April 21 : India's largest IT services exporter Tata Consultancy Services (TCS) Monday said it has tied up with Japan's Mitsubishi Corporation to set up a software services company that will be operational in Japan from July this year.

The two companies said in a joint statement that they have signed a "definitive agreement" for setting up the new entity, in which TCS will hold the majority 51 percent stake, while Mitsubishi will control 49 percent share.

TCS teams up with Twitter to launch iElect app

TCS teams up with Twitter to launch iElect appTata Consultancy Services (TCS) has teamed up micro-blogging service Twitter to launch an app called iElect, which will provide live insights and data about the ongoing general elections.

TCS said the iElect app does real-time analysis of millions of tweets in the cloud and allow users to know what people are thinking about ongoing Lok Sabha polls. Pradipta Bagchi, vice president and head of corporate communication at TCS, said the users of the app would have access to insights and trends on a real time basis.

TCS brand value zooms 58 percent to $8.2 billion

Tata-Consultancy-ServicesBangalore, March 24 : Brand value of Indian IT bellwether Tata Consulting Services (TCS) zoomed 58 percent this fiscal (2013-14) to $8.2 billion from $5.2 billion the last fiscal with recognition as the world's fastest growing global IT services brand.

According to the London-based brand valuation firm Brand Finance, TCS brand value grew faster than its global peers IBM, whose brand value grew 10 percent year-on-year (YoY) to $41.5 billion from $37.7 percent; HP 23 percent YoY to $19.8 billion from $16.1 billion and Accenture 22 percent YoY to $11 billion from $9 billion.

TCS top IT service provider in Europe, Middle East

TCS top IT service provider in Europe, Middle EastBangalore, Feb 24 : Global software major Tata Consulting Services (TCS) has been ranked number one IT service provider for the manufacturing industry in Europe, Middle East and Africa (EMEA) by leading analyst firm International Data Corporation (IDC).

"The study we conducted revealed that TCS has demonstrated an ability to deliver a range of services to European manufacturing enterprises, as also confirmed by its key clients," IDC head for manufacturing insights Pierfrancesco Manenti said in a statement here.

S&P upgrades TCS, Infosys and Wipro

S&P upgrades TCS, Infosys and WiproGlobal rating agency Standard & Poor's (S&P) on Friday revised upwards the long-term corporate credit ratings of three Indian software giants, viz. Tata Consultancy Services (TCS), Wipro and Infosys.

S&P raised its long-term corporate credit rating on TCS from BBB+ to A; and on Infosys and Wipro from BBB+ to A-. The agency's outlook on the rating for Wipro and Infosys is `stable', while for TCS the outlook on the foreign currency rating is `negative'.

India's TCS, GE launch female BPO centre in Saudi Arabia

Tata-Consultancy-ServicesRiyadh, Sep 24 : India's Tata Consultancy Services (TCS) in partnership with GE and Saudi Aramco Tuesday launched first all-female business process outsourcing (BPO) centre in Saudi Arabia that will create nearly 3,000 jobs in the Gulf kingdom.

The centre, in Dhahran, headquarters of Saudi Aramco, will be staffed by Saudi women with TCS and GE owning 76 percent and 24 percent equity respectively in the new venture, which will initially serve Saudi Aramco and GE as anchor clients.

TCS to start developing 100-acre Indore facility on Aug. 10

TCS to start developing 100-acre Indore facility on Aug. 10Information technology giant Tata Consultancy Services Ltd (TCS) has announced that it would start developing its 100-acre Indore facility on 10th of August.

The TCS facility will be developed in the Super Corridor area on the fringes of Indore city.

The decision about the development of the TCS facility was announced after Madhya Pradesh Chief Minister Shivraj Singh Chouhan along with some senior government officers visited the Super Corridor area for reviewing arrangements.

TCS reports nearly 17% jump in quarterly net profit

TCS reports nearly 17% jump in quarterly net profitSoftware services provider Tata Consultancy Services (TCS) On Thursday reported higher-than-expected consolidated net profit for the April-June quarter, thanks to new deals from foreign markets and a foreign exchange gain.

TCS, India's biggest software services exporter, said its consolidated net profit jumped 16.8 per cent year-on-year to Rs 3,831 crore during the three months ended June 30. In the corresponding period of the previous financial year, the company had pocketed Rs 3,280 crore as net profit.

UK's Network Rail awards 350 million pound order to TCS

UK's Network Rail awards 350 million pound order to TCSUK's Network Rail Infrastructure Ltd has awarded a contract worth 350 million pound from India's largest software services firm, Tata Consultancy Services (TCS).

The contract includes identifying, defining, designing, building and integration of next generation IT solutions for Network Rail, according to TCS. The company has not announced the financial details of the deal but many believe that the deal is worth 350 million pounds. The network is investing 20,000 miles of track and infrastructure and 17 major stations across the UK.

TCS profit rises 33.6 percent in 2012-13

TCS profit rises 33.6 percent in 2012-13Mumbai, April 17 : Tata Consultancy Services (TCS), the country's largest software exporter, Wednesday said its net profit increased 33.6 percent to Rs. 13,917 crore for the financial year ended March 31.

The company's annual revenue jumped 28.8 percent to Rs. 62,989 crore.

TCS posted a net profit of Rs. 3,597 crore for January-March quarter. The company had reported Rs. 3,551.8 crore profit in the previous quarter.

Reacting on the numbers chief executive and managing director of TCS N. Chandrasekaran said the company was hopeful of registering similar growth in 2013-14 also.

TCS acquired French IT firm Alti for Rs 533cr

TCS-logoTata Consultancy Services (TCS) on Tuesday announced that it acquired a 100 per cent stake in French IT services firm Alti SA in an all-cash deal worth Rs 533 crore (_75 million).

The strategic acquisition of Alti, which is owned by its management and private equity funds IDI and CM-CIC LBO Partners, will help the India software firm expand its presence in Europe.

TCS brand value touches $5.2bln

tata-consultancy-services1New Delhi, Mar 7 : Tata Consultancy Services (TCS) has added 1.18 million dollars in brand value over 2012 and reached 5.2 billion dollars.

TCS also retained its position among the ‘Big 4’ most valuable IT services brand worldwide based on ranking by brand valuation firm Brand Finance.

TCS agrees to pay $30 million to settle class action suit in US

   TCS agrees to pay $30 million to settle class action suit in USIndian IT services provider, Tata Consultancy Services (TCS) has agreed to pay $30 million to settle a class action suit against the company in the US.

TCS shares jump as investors expecting better Q3 results

TCS shares jump as investors expecting better Q3 resultsStock in India's leading software services provider Tata Consultancy Services (TCS) gained around 3 per cent to Rs 1,331.05 a share on the Bombay Stock Exchange (BSE) on Monday, ahead of the announcement of the company's third-quarter earnings.

Investors have been showing more interest in TCS shares since Friday, after Infosys reported better-than-expected results for the October to December quarter.

After Weak Start; Indian Market Recovers

After Weak Start; Indian Market RecoversIndian Stock Market recovered towards the end of the trading session with support coming on heavy weight counters like ITC, TCS and HDFC. Indian markets were also helped by the positive trade in the European markets. BSE Sensex ended the day 51 points higher at 19742 and NSE Nifty managed a close above 6000.

Brokerage house Motilal Oswal has given sell calls for SAIL, JSW Steel and Tata Steel citing tough times for steel sector. Motilal Oswal has given sell rating for JSW Steel with a target price of Rs 478. JSW Steel closed a per cent lower at Rs 844 today.

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