TCS to provide clearing software for Boursa Kuwait

India’s biggest private sector employer, Tata Consultancy Services, said Kuwait Clearing Company, the clearing entity of Boursa Kuwait, has chosen its software to provide CCP services. A central counterparty clearing house (CCP) is a corporate entity that reduces counterparty and default risk for traders. It acts as the counterparty to the buyer and the seller […]

Reliance Industries 10 rupees away from $100 bln market cap, after TCS

Three months after Tata Consultancy Services became the first Indian company to achieve a market capitalization of $100 bln (Rs 6.85 lakh cr), Reliance Industries is close to the $100 bln mark as well. At present, there are only around 100 companies in the world whose shares are worth $100 bln or more, including the […]

TCS to change campus hiring program from this year; make it ‘agile’

Tata Consultancy Services, the country’s largest private sector employer, said it plans to make some changes to its methodology used to hire fresh graduates from campuses from this year. Speaking to BTVI, HR head Ajoyendra Mukherjee said campus hiring for the next financial year (2019-20) will start in August or September. “More and more, even […]

TCS opens new DC in Paris as Macron tries to entice more investment

Tata Consultancy Services said it opened its third delivery center in France, with a capacity to seat up to 230 employees. The new DC is being opened at Suresnes near Paris. The company, which opened its first delivery center in 2012 and a second one two years later, did not specify how many employees would work […]

TCS doubles M&G Prudential deal to £1 bln

Tata Consultancy Services announced a major expansion of its recently announced deal to take over administration of around 4 mln life and pensions contracts from M&G Prudential, the  savings and investments business of Prudential. The deal, announced in January this year, was worth pegged at £500 mln (half a billion pounds) at the time. Today, the company reported […]

Infosys CEO Salil Parekh dismisses growth concerns

Infosys CEO Salil Parekh reassured investors that the IT services behemoth was not facing a growth crisis because of the replacement of traditional sourcing models with digital services. He said new age services — such as analytics, marketing, digital product design, digital system integration, cloud migration and cyber security were already at a huge size, […]

TCS to help UK’s Marks & Spencer become ‘digital first’

Tata Consultancy Services said it has entered into a five-year deal with long-time customer and retail chain Marks and Spencer to transform its customer experience and make it a ‘digital first’ business. “TCS will be Marks & Spencer’s principal technology partner and drive agility, intelligence, innovation and efficiency to transform the retailer’s customer experience and […]

TCS takes over Transamerica’s insurance administration, 2,200 employees

Tata Consultancy Services said it will take over the policy administration and customer service functions of US insurer Transamerica along with 2,200 of its employees in a $2 bln-plus, multi-year deal. The Indian company will migrate the administration of over 10 mln insurance policies on to its BaNCS platform and provide ‘third party administration’ or […]

TCS reports 1.2% sales growth QoQ, PAT up 1.3%

Tata Consultancy Services reported a 1.3% improvement in revenue in constant currency terms, which is less than the 1.7% improvement reported in the previous quarter, but largely in line with expectations for a tame quarter. Revenue grew 6.2% on year in constant currency terms. In rupee terms, the company’s revenue was at 30,904 crore; up […]

TCS sets up new delivery center in Hyderabad for US-based Zebra Technologies

Tata Consultancy Services, India’s biggest foreign exchange generator, said it has set up a Global Development Center in Hyderabad to cater to Zebra Technologies, a billion-dollar US corporation that specializes in tracking technologies such as bar codes and RFID. The new center will provide “operational efficiencies and an enhanced customer experience” for the client, TCS […]

TCS inaugurates mega campus in Thane, to eventually relocate most Mumbai employees

Tata Consultancy Services said it inaugurated the first phase of Thane delivery center that will have the capacity to seat 30,000 employees when fully developed, which will make it the largest in Mumbai. The company, which has a huge operation in Vikhroli in the city, said it will eventually consolidate its Mumbai operations at the […]

TCS carries out cloud migration for Malaysian Airlines

Tata Consultancy Services, the country’s largest exporter of services, said it has successfully implemented a cloud transformation of Malaysia Airlines, making it the world’s first full-service airline to migrate fully to the cloud. Cloud transformation refers to the replacement of packaged software — which is installed at users’ computers — by a single copy or […]

Indian IT sector margins to fall to 21.2% from 23.5% by 2020 – ICRA

Indian IT companies will continue to struggle to maintain growth rates and their margins will continue to fall in line with the trend seen in the last few quarters, credit rating agency ICRA said. The rating agency predicted a sharp decline in revenue growth rate from about 17.1% per year in the last five years […]

TCS Q2 results comes largely in line with expectations

Tata Consultancy Services Ltd, the country’s largest IT services exporter, reported revenue largely in line with expectations, while net profit fell slightly. Revenue was 30,541 cr, up 4.3% on year. Dollar and constant currency numbers have not yet been revealed. Operating margin was 25.1%, up 1.7%, but still below historical averages. Net profit was up […]

TCS Diligenta wins 15-year deal UK insurance deal from Scottish Widows

Tata Consultancy Services said it won a 15-year deal from Scottish Widows insurance company to provide end-to-end policy administration services for its 4 million heritage customers. The deal from the Lloyds Banking Group’s Life and Pensions unit was won by TCS’s UK subsidiary Diligenta, which provides outsourcing services to the insurance industry. “Diligenta will provide […]

TCS launches AI-based IT incident prevention solution in Japan

Tata Consultancy Services launched its artificial intelligence-based IT repair and prevention solution, ignio, in Japan. “When System outages occur today, businesses dedicate vast resources to rectify the problem. Oftentimes, multiple teams are called together to identify the root cause and devise resolution plans. “This can take Several hours and sometimes days. ignio” is able to […]

TCS to create apps on Siemen’s IoT platform MindSphere

Tata Consultancy Services said it will create applications on MindSphere, the cloud-based, open IoT operating system from Siemens. IoT stands for ‘Internet of Things’ and refers to connectivity between two machines over the Internet, with zero human interface. Examples include a connection between a smart electricity meter at the customer’s home and a billing computer […]

TCS opens drone facility in the US

Tata Consultancy Services said it has opened its first research lab for drones in the US at its Seven Hills Park Innovation Center located in Cincinnati, Ohio. The lab will address the rapidly expanding demand for unmanned aerial vehicles and business Solutions across industries, the Indian IT major said. The facility will feature indoor labs, […]

WATCH LIVE – Moving towards a less visa-dependent model : TCS

Tata Consultancy Services has reported Q4 revenue of Rs 29,642 cr, a decline of 0.3%, and said his company will wait and see about new US visa regulations that are scheduled to come out today. NEW VISA RULES On new visa regulations expected today, Gopinathan said TCS will ‘wait and see’ what kind of rules are […]

N Ganapathy Subramaniam appointed new TCS COO

Tata Consultancy Services said it made two appointments in the wake of the departure of Chief Executive officer N Chandrasekaran: N. Ganapathy Subramaniam, elder brother of outgoing CEO Chandrasekaran, has been appointed as the chief operating officer, and former chief financial officer Rajesh Gopinathan has been elevated to the position of CEO. Former CEO Chandrasekaran has […]