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 with a forecast of 6-10 per cent growth in dollar revenue, sending its shares tumbling. Earlier on Wednesday, fourth-ranked HCL Technologies Ltd said March quarter profit rose 73 per cent, beating estimates, although its shares ended 1.5 per cent lower.
"There is a wedge forming between performers and not so good performers in the sector. Given the way the U.S. economy is recovering, this augurs well for the performers like TCS," said Anshu Kapoor, head of private wealth management at brokerage Edelweiss in Mumbai.
Infosys, the No.2 player in India's $108 billion IT services industry, has struggled to implement a strategy of generating a higher proportion of revenue from its own software platforms. By contrast, TCS has focused on more traditional outsourcing. Tata's net profit for the fiscal fourth quarter ended March 31 rose 22 per cent to Rs 3597 crore from Rs 2946 crore in the year-earlier period, as it won orders from customers including Nokia and BNP Paribas. ...
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09:42 AM, Apr 18, 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
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
Mumbai: India's biggest software services exporter, Tata Consultancy Services (TCS) and Japanese major Mitsubishi Corporation on Wednesday announced a new joint venture, Nippon TCS Solution Center Ltd for the Japanese market. "The JV will be set up with an initial investment of USD 5 million, which will be raised in a phased manner. In this joint venture, TCS Japan has taken 60 percent stake, while the remaining 40 percent will...
05:08 PM, Feb 08, 2012
New Delhi: Country's biggest software services firm Tata Consultancy Services (TCS) on Monday said it has signed a multi-year, multi-million euro contract with European car rental company Europcar for deployment of IT services in France. The financial details of the deal were not disclosed. After a rigorous evaluation process, Europcar's IT subsidiary Eurocar Information Services (EIS) selected TCS to manage strategic IT services development for its French operations, TCS said...
08:47 PM, Feb 06, 2012
New Delhi: The Government on Tuesday permitted IT software major Tata Consultancy Services (TCS) to set up a Special Economic Zone at Indore in Madhya Pradesh, even as it allowed Videocon group to pull out from its SEZ project at Jalpaiguri in West Bengal. "SEZ proposal by TCS has been cleared," a Commerce Ministry official said after meeting of the Board of Approval (BoA). The green signals to TCS and...
04:35 PM, Jan 24, 2012
New Delhi: Tata Consultancy Services reported 23 per cent year-on-year rise in second quarter consolidated net profit at Rs 2,887 crore, helped by continued demand for outsourcing services and said the deal pipeline remains strong. Revenue for October-December quarter jumped 37 per cent from a year ago to Rs 13,204 crore, India's top software services exporter said on Tuesday Analysts on average had expected TCS net profit at Rs 2,893...
08:03 PM, Jan 17, 2012
Mumbai: India has the highest per centage share of family businesses in Asia, accounting for 67 per cent of total listed companies with market capitalisation of more than $ 50 million, Credit Suisse said in a research report on Thursday. The report said 663 out of 983 listed Indian firms were family businesses and they account for half of all corporate hirings. Family businesses in India account for 46.8 per...
10:57 PM, Nov 06, 2011
Shanghai: Infosys Ltd, India's No 2 software services exporter, is looking for acquisitions worth up to $ 700 million, Infosys' Executive Co-Chairman Kris Gopalakrishnan said on Thursday. Infosys has been on the hunt for acquisitions in the healthcare and life science sectors and is looking at firms that have platforms or niches in geographies that its lacks. "Typically, the size we are looking for is up to 10 per cent...
11:25 AM, Oct 27, 2011
