India's largest software services company Tata Consultancy Services (TCS) on Wednesday it has seen a surge in demand for its services and expects to recruit 10,000 individuals in the US by 2022.
Shares of Tata Consultancy Services (TCS) on Thursday jumped over 5 per cent after the company announced a mega-Rs 16,000 crore buyback plan at Rs 3,000 per equity share. TCS was the top gainer in the Sensex pack in early trade.
TCS will buyback 5.33 crore shares worth Rs 16,000 crore. This is first buyback programme by the country's largest IT major in the current fiscal.
Rising for the third straight session, market benchmark Sensex finished 277 points higher on Monday, propelled by IT and banking counters.
Tata Consultancy Services (TCS) has become the second Indian firm to attain a market valuation of over Rs 10 lakh crore.
India's largest IT services firm Tata Consultancy Services' board will meet later this week to consider a share buyback proposal. "...the board of directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on October 7, 2020," Tata Consultancy Services (TCS) said.
The Income Tax Department on Tuesday issued guidelines for applicability of TCS provision which requires an e-commerce operator to deduct 1 per cent tax on the sale of goods and services with effect from October 1.
Data shared by the Employees' Provident Fund Organisation (EPFO) has shown employees working with major IT companies have availed the maximum EPF advances. Following the coronavirus pandemic, EPFO offered members the opportunity to avail advance not exceeding three months’ basic wages and dearness allowances or up to 75% of the amount standing to the credit of their respective accounts.
Shares of Tata Consultancy Services (TCS) on Wednesday declined over 1 per cent after S&P Global Ratings said the company is likely to face slower growth in revenue and profitability over the next 12-18 months, given subdued global IT spending. The stock dipped 1.12 to Rs 2,217.05 on the BSE.
Tata Consultancy Services (TCS) is planning to hire as many as 40,000 freshers in India campus amid coronavirus crisis which has eaten up into a lot of jobs.
Equity benchmark indices suffered slight cuts during early hours on Friday following a decline in global peers amid surging coronavirus cases.
TCS iON, a strategic unit of Tata Consultancy Services, on Wednesday said it has partnered with the National Skill Development Corporation (NSDC) to provide its training partners access to digital skilling tools using TCS'' iON Digital Glass Room.
As per the announcement made by Finance Minister Nirmala Sitharaman, to provide more funds to taxpayers, TDS for non-salaried specified payments made to residents and rates of TCS for specified receipts shall be reduced by 25%. The reduction will remain valid till March 31, 2021.
Eight of the 10 most valued Indian companies lost Rs 2,50,825.28 crore in market valuation last week, with TCS and HDFC twins taking the biggest hit. In the top-10 list, only Reliance Industries Ltd and Bharti Airtel managed to close the trading week with gains.
TCS (Tata Consultancy Services) is set to allow 75 per cent of its workforce to work from home, by the year 2025. If the future plan of allowing 75 per cent of the workforce to work from home implements, TCS would require less office space than occupied today.
Equity benchmark indices closed higher on Thursday in line with Asian peers amid a rebound in crude oil prices from historic lows.
The Tata Group company (TCS) promised all its 4.5 lakh employees -- constituting over a tenth of the over USD 180-billion Indian IT sector -- that there will be no retrenchments but they will have to do without a salary hike for the year.
TCS was the top gainer in the Sensex pack, surging up to 7 per cent. The country's largest software exporter reported a marginal dip in March quarter net at Rs 8,049 crore on Thursday.
Seven of the top 10 most-valued Indian companies together added Rs 1,23,039.72 crore in market valuation last week, led by Infosys and Reliance Industries Limited (RIL). While Tata Consultancy Services (TCS), RIL, HDFC Bank, HUL, HDFC, Infosys and Kotak Mahindra Bank witnessed addition in their market capitalisation for the week ended on Friday,