TCS PARTNERSHIP
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
TCS signs five-year partnership with Sydney Marathon
TCS did not disclose the financials of the partnership. This is the latest marathon to be added to TCS's portfolio. The TCS Sydney Marathon is part of the larger running events including four World Marathon Major races in New York, London, Chicago and Boston, alongside marathons in Amsterdam, Mumbai, Singapore and Toronto.
TCS expands partnership with Xerox for transformation programme
Tata Consultancy Services (TCS) has expanded its strategic partnership with Xerox to execute an end-to-end transformation program. Xerox also has an outsourcing deal with HCLTech, signed in 2019, and plans to reduce its workforce by 15 percent as part of a 'reinvention' strategy.
Stocks in news: Zomato, Paytm, HAL, Som Distilleries, Adani Enterprises, TCS
Sensex and Nifty hit new highs. NCLAT directs NCLT to re-hear APL Apollo Tubes insolvency plea. Reliance Jio's tech collaboration with TM Forum sees 80% resource increase. Police investigate child labor at Som Distilleries. Mahindra Lifespace targets sharp increase in sales. Lupin enters CDMO business. Alembic Pharma receives FDA approval.
India, Italy giving boost to Strategic Partnership, enhancing trade, defence and technology ties
Italy, as India's fourth largest trading partner in the EU, has upgraded bilateral relations to a 'Strategic Partnership.' The focus will be on defence, Indo-Pacific, energy, and technology. PM Modi has been invtited for the G7 Summit Outreach. Celebrating 75 years of diplomatic ties, the countries emphasise rule of law, human rights, and inclusive growth. With significant economic engagement and cooperation in science & technology. The nations continue to enhance their strategic partnership.
Modi at G7 Summit under Italian Presidency: Consolidating strategic partnership
Several ministers from Italy visited India in 2023, for G20 related meetings and held bilateral meetings on the sidelines including the Italian Minister for Foreign Affairs & trade, Finance, Agriculture, Education and Culture Ministers. The Speaker and President of the Italian Senate and Chamber of Deputies participated in the P20 meeting last year. The Indian Foreign, Defence and Commerce & Industry Minister visited Italy last year.
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HCC shares jump 15% after Elara Capital initiates buy rating, sees 58% upside
Hindustan Construction Company (HCC) witnessed a significant surge of almost 15% to reach a peak of Rs 45.6 during Tuesday's trading session on the BSE. This increase came after brokerage firm Elara Capital initiated coverage on the stock with a 'Buy' rating and set a target price of Rs 63.
Indian businesses brainstorm on diverse sectors including digital tech & aerospace at Choose France Summit
The 7th Choose France Summit in Paris featured a dedicated France-India roundtable where TCS announced a Global AI Center of Excellence. The event highlighted the India-France strategic partnership and the upcoming Indo-French Year of Innovation to enhance bilateral ties.
A gruelling IT marathon: FY24 was a turbulent year for the Indian IT sector. What lies in store for the next 12 months?
In the past two weeks of the final quarter and full fiscal 2024 earnings announcements, most IT majors failed to meet their revenue growth guidance. Many downward revisions for the year ahead were seen despite most firms bagging large deals and sitting on an arsenal of historic total contract value (TCV) wins.
TCS Q4 net profit up 9%; two partners leave Lightspeed
Revenue from operations saw a marginal 3.5% year-on-year increase to Rs 61,327 crore. In constant currency terms, TCS clocked a revenue growth of 2.2% in the March quarter. The growth was led by the India business (up 38%), followed by the UK (6.2%).
TCS Q4 Preview: Reversal of furloughs to aid sales growth; FY25 outlook on radar
TCS likely to see sequential revenue growth in Q4 driven by BFSI and manufacturing sectors, with key focus on management commentary on new deals and vertical outlook.
TCS likely to outdo peers with ramp-up in big deals
Its operating margin is also likely to expand in the absence of any major wage increases and higher internal efficiency. The country’s largest software exporter is slated to declare the fourth quarter numbers on Friday.
We cherish the connection with India, says INSEAD dean Francisco Veloso
INSEAD, a top global business school, is not planning to open a campus in India but remains dedicated to strengthening research ties with Indian companies. Dean Veloso highlights Indian student representation and discusses the school's engagement with top Indian multinationals and startups. He also emphasizes the importance of incorporating AI in education to prepare future leaders for tech-driven transformations.
TCS bags deal from regional US lender Central Bank
Central Bank manages more than $20 billion in assets serving more than 150 locations in 78 communities throughout Missouri, Kansas, Illinois, and Oklahoma. TCS BaNCS will help modernise the bank's core technology infrastructure.
Premium segment to clock robust growth over 3-4 years: CK Venkataraman, MD, Titan
“In the significant per-capita income shift that’s expected to happen in the next few years, the top-tier income segment numbers are expected to grow faster than those income segments which are lower,” said Venkataraman, winner of the ET Business Leader of the Year award.
TCS signs multi-million cloud transformation deal with Denmark’s Nuuday
TCS, the IT services arm of the Tata group, will host and manage all IT domain services of Nuuday during the transformation. This cloud transformation will enable faster and easier adoption of next-gen technologies.
GenAI set to move from hype to value as projects go live: TCS CTO Harrick Vin
TCS is infusing Gen AI and intelligence across almost all layers of the company, he said.
Why Tata wants Uber to speed up its super app Tata Neu
Tata Group's digital arm, Tata Digital, is in talks with Uber for a strategic partnership to address challenges in user growth and customer engagement. The collaboration aims to leverage Tata's super app, Tata Neu, and Uber's expertise to increase traffic and revenue in the e-commerce market.
TCS shares rally over 4% to cross market cap of Rs 15 lakh crore for first time
Tata Consultancy Services (TCS) shares surged 4% to an all-time high of Rs 4,135.9 on BSE as it won a multi-year deal from Europ Assistance. The deal involves TCS helping Europ Assistance reimagine its global IT operating model. The partnership will focus on co-innovation using generative AI and other advanced technologies. TCS will leverage its proprietary solution, ignio AIOps, to enhance operational resilience and business agility for Europ Assistance. The company's market cap also crossed Rs 15 lakh crore for the first time in today's trade.
TCS wins multi-year deal from Europ Assistance
As the strategic partner, TCS will step up its delivery centers in Europe and across geographies to provide Europ Assistance end-to-end enterprise IT application services. The partnership will also see TCS leveraging its proprietary solution, ignio AIOps from its Digitate suite of offerings to enhance operational resilience and business agility.
Now, TCS employees have to do this to get next promotion & variable pay
TCS has implemented a return-to-office mandate, linking hikes and promotions to compliance. Freshers who complete assigned courses will receive digital compensation and higher salaries. Employees are required to work from the office for all five days of the week. TCS has expanded its partnership with Aviva to manage 5.5 million policies.
TCS wins 15-year deal with UK insurer Aviva
TCS has won the deal expanding its existing engagement with UK-based insurance provider Aviva. As part of the deal, the end-to-end policy administration and servicing will expand to cover over 5.5 million policies, and will be managed by TCS’ UK subsidiary Diligenta.
Oxford University ends partnership with TCS for conducting admission tests
Oxford University has terminated its partnership with Tata Consultancy Services (TCS) due to technical problems and feedback from candidates, test centers, and parents. TCS will no longer be involved in the university's admission testing procedures. The university is now working on alternative options for future admission cycles and will communicate them soon.
TCS, Infosys to announce Q3 results today: What to track, how to trade
TCS and Infosys will release their Q3 earnings today amid expectations of weak numbers. However, bulls believe that this could be the last dull quarter before revenue growth picks up in Q4. Analysts anticipate TCS to deliver 1.5% QoQ cc revenue growth driven by large deal ramp-ups, with margin expansion driven by operational efficiencies. On the other hand, Infosys is expected to see a decline in USD revenue due to seasonal furloughs and the impact of a slowdown in discretionary tech spending.
TCS expands pact with Standard Bank Group to transform operations
The Indian IT major will use their TCS BaNCS Global Securities Processing Platform for centralising and standardising operations in over 15 markets of Standard Bank Group (SBG), the company said in a statement.
Tata's partnership with NVIDIA to upskill 6 lakh TCS employees
NVIDIA has partnered with Tata Group to develop an AI cloud in India, aiming to provide critical infrastructure for computing. Tata Consultancy Services (TCS) will use the AI capabilities to build generative AI applications and upskill 600,000 employees. The collaboration will democratize access to AI infrastructure and accelerate the development of AI solutions.
Tejas bags ₹7,492 crore BSNL contract
In a regulatory filing Wednesday, Tejas said it has executed a master contract for supply, support and annual maintenance services of its telecom equipment for BSNL's pan-India 4G/5G network with Tata Consultancy Services (TCS). "As a part of this contract, the company received a purchase order from TCS for ₹7,492 crore (approx. $900 million) to supply its latest 4G/5G RAN equipment for approximately 100,000 sites," the Bengaluru-based gear maker said in the filing. The contract will be executed during the calendar years 2023 and 2024.
TCS enters 10-year partnership with AIB Life, to support Ireland operations
TCS will provide end-to-end administration, information technology and customer as well as claims handling services through its global delivery centre in Letterkenny, Donegal.
TCS scales up Microsoft Azure partnership, to train 25,000 associates
Generative AI enterprise adoption offering uses a proprietary transformation framework to bring together TCS’ knowledge and expertise in Azure Open AI service to help clients enhance customer experience and grow revenue.
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