New Delhi: Leading software services exporter Tata Consultancy Services (TCS) has raised the salary of its CEO and Managing Director N Chandrasekaran by 50 per cent to Rs 15 lakh per month effective from April 2014. The hike in salary package of TCS' top executive is however subject to approval by the shareholders.
Chandrasekaran, who became chief executive in October 2009, had received a pay hike of about 40 per cent to Rs 10 lakh in July 2011 earlier.
In a recent filing to stock exchanges, the software company said, "The Board has revised the maximum limit of salary of N Chandrasekaran from Rs 10 lakh per month to Rs 15 lakh per month, with effect from April 1, 2014, for the remainder of the tenure of his appointment i.e. up to October 5, 2014, with proportionate increase in the benefits related to his salary."
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10:09 AM, Jun 06, 2013
Mumbai: Country's largest software services firm Tata Consultancy Services (TCS) on Wednesday said it has bagged a four-year deal from UK's Network Rail Infrastructure Ltd. The IT Solutions and System Integration Framework agreement encompasses identifying, defining, designing, building and integration of next generation IT solutions for Network Rail, TCS said in a statement. Though the company did not disclose financial details, sources said the deal size is worth over 350...
03:59 PM, Jun 05, 2013
Bangalore: Narayana Murthy's success in turning around Indian IT services firm Infosys hinges on his ability to revive its sales efforts and shake up the conservative culture he helped create. Eleven years after Murthy stepped down as chief executive at India's second largest computer services exporter, Infosys unexpectedly brought back the 66-year-old as executive chairman to reverse falling market share and end two years of disappointing results. Shares rose as...
10:37 PM, Jun 04, 2013
Mumbai: Tata Consultancy Services (TCS), India's top software services provider, lifted quarterly profit by more than a fifth and painted a more bullish picture for future revenue growth than key rival Infosys. TCS said it expects revenue in the current fiscal year to increase more than the 12-14 per cent sector export growth forecast by the National Association of Software and Services Companies (Nasscom). Infosys Ltd on Friday missed expectations...
09:42 AM, Apr 18, 2013
Mumbai: Tata Consultancy Services Ltd, India's top software services provider, matched estimates with a 22 per cent rise in quarterly profit and said it expects to grow revenue faster than a key industry-wide forecast for the year starting this month. Net profit for the fiscal fourth quarter ended March 31 rose to 35.97 billion rupees from 29.46 billion rupees in the year-earlier period, as it won orders from customers including...
05:32 PM, Apr 17, 2013
Mumbai: Shares of IT major Tata Consultancy Services (TCS) on Wednesday fell by nearly 2 per cent ahead of its quarterly results, to be announced later in the day. After falling 3.55 per cent during the day, shares of TCS finally ended at Rs 1,459.20, down 1.73 per cent from the previous close on the BSE. At NSE, the scrip closed at Rs 1,459.85, with a loss of 1.57 per...
04:55 PM, Apr 17, 2013
Mumbai: Shares in Tata Consultancy Services rose as much as 2.2 per cent on Tuesday after the company announced it will buy privately-held Alti SA of France for 75 million euros. The acquisition signals Indian software service exporters' interest in diversifying its revenue base, and the acquisition could potentially help increase profits at TCS, analysts said. TCS shares were up 2 per cent as of 12:36 pm. ...
02:55 PM, Apr 09, 2013
Seturaman says that TCS chose to be more transparent and keep the investor updated rather than guiding it. ...
04:54 PM, Feb 13, 2013
India's No 3 software services provider Wipro Ltd posted an 18 per cent gain in quarterly profit, joining bigger rivals Tata Consultancy Services Ltd and Infosys Ltd in reporting better-than-expected earnings. ...
09:07 AM, Jan 18, 2013
HCL Technologies, India's fourth-largest software services provider, beat estimates with a 68.4 per cent jump in quarterly profit, joining Infosys and Tata Consultancy Services in signalling a pickup in outsourcing. Consolidated net profit for its fiscal second quarter that ended December 31 rose to Rs 965 crore from Rs 573 crore a year earlier. Analysts were expecting profit to rise to Rs 826 crore, according to the latest Thomson Reuters...
10:55 AM, Jan 17, 2013
Tata Consultancy Services (TCS) on Monday said it has given campus offers to 24,000 people, who will be joining the organisation in 2013-14. ...
11:10 PM, Jan 14, 2013
India's largest software services exporter Tata Consultancy Services (TCS) net profit rose higher than expected 1.1 per cent quarter-on-quarter to Rs 3,551.1 crore in the third quarter of current financial year 2012-13. Revenues grew by 2.9 per cent to Rs 16,069.9 crore in the October-December quarter of 2012 from Rs 15620.8 crore in previous quarter, which too were ahead of forecast. ...
05:14 PM, Jan 14, 2013
Shares in TCS gain 1.9 Per cent after Morgan Stanley upgraded its target price on the stock to Rs 1,415 from Rs 1,225. ...
01:43 PM, Dec 19, 2012
Mumbai: Country's largest software firm Tata Consultancy Services (TCS) on Friday reported a 49.2 per cent jump in consolidated net profit at Rs 3,434 crore for the quarter ended September 30, 2012. The company had posted a net profit of Rs 2,301 crore in the same quarter of the previous fiscal (2011-12). Revenues rose 34.3 per cent to Rs 15,621 crore in the second quarter of 2012-13 compared to Rs...
09:14 PM, Oct 19, 2012
Bangalore: Indian IT outsourcer Infosys Ltd, which has long said its comfort size for acquisitions is up to 10 per cent of its own revenue, is open to bigger deals given the right opportunity, a top executive said. "Whatever size it is, if it makes strategic sense, if we feel we can take it and execute it, we'll look at it," V Balakrishnan, chief financial officer of India's second-biggest software...
11:19 PM, Sep 04, 2012
Mumbai: Shares in Tata Consultancy Services were up 2.3 per cent on Friday after its quarterly profit exceeded forecasts, while Infosys fell after cutting its sales guidance by more than expected. The contrasting performances by India's two biggest software services exporters tracked their earnings results out on Thursday. Infosys shares were down 0.8 per cent after falling 8.4 per cent on Thursday on the back of disappointing results, which were...
11:32 AM, Jul 13, 2012
Mumbai: India's top software services provider Tata Consultancy Services reported slightly better-than-expected results for April-June, a stark contrast to its rival and number two Infosys, which had earlier in the day disappointed the street with a lower-than-expected quarterly profit and cut its full year US dollar revenue guidance sharply. TCS first quarter net profit rose 38 per cent year-on-year (14.6 per cent sequentially) to Rs 3,280.5 crore, while revenue was...
09:23 AM, Jul 13, 2012
Mumbai: Microsoft India on Thursday bagged the Randstad Award 2012 for the 'most attractive employer' in the country for the second consecutive year followed by Oracle India and Tata Consultancy Services. The Randstad Award 2012 was also given to Volkswagen India and Nokia India as special recognition in the auto and consumer durables industry sector, respectively. The award, instituted globally by leading HR services provider Randstad, aims to encourage best...
11:23 PM, Apr 26, 2012
Mumbai: Tata Consultancy Services Ltd shares surged on Tuesday as much as 9.6 per cent after posting a 23 per cent rise in its fiscal fourth quarter profit and giving a relatively upbeat outlook. TCS's results, which came after the market closed on Monday, were seen as a sign it may be better positioned than rival Infosys. TCS shares were last up 8.9 per cent, versus a 0.05 per cent...
10:21 AM, Apr 24, 2012
New Delhi: The IT giant Infosys is set to declare its fourth Quarter results earnings on Friday. While analysts expect muted growth, the earnings season for Indian IT firms comes amid improving macro-economic stability in the US and European markets. Worldwide IT spending is forecast to increase 2.5 per cent in 2012 from a year ago, research firm Gartner Inc. said on Apr 5, lower than its January forecast of...
06:40 AM, Apr 13, 2012
