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Equity benchmark Sensex resumed its record-setting streak on Thursday after a day's pause as gains in index major TCS offset profit-booking in the IT pack following strong results by <keyword id="6354512" type="DOMAIN" weightage="20" keywordseo="Infosys">Infosys</keyword> and Wipro. A broad upmove in global equities and a recovering rupee further propped up the bourses, traders said. Recovering from a shaky start, the 30-share BSE Sensex gained momentum during the day to end at its new lifetime high of 49,584.16, up 91.84 points or 0.19 per cent. Similarly, the broader NSE Nifty rose 30.75 points or 0.21 per cent to finish at a record 14,595.60. TCS topped the Sensex gainer's chart, spurting 2.89 per cent, followed by IndusInd Bank, L&amp;T, ITC, <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>, HUL and <keyword id="44642" type="DOMAIN" weightage="20" keywordseo="Sun-Pharma">Sun Pharma</keyword>. On the other hand, <keyword id="141968" type="DOMAIN" weightage="20" keywordseo="HCL-Tech">HCL Tech</keyword>, Axis Bank, <keyword id="106317" type="DOMAIN" weightage="20" keywordseo="Asian-Paints">Asian Paints</keyword>, <keyword id="6355596" type="DOMAIN" weightage="20" keywordseo="ultratech-cement">UltraTech Cement</keyword>, Infosys and Tech Mahindra were among the laggards, declining up to 2.63 per cent. Infosys on Wednesday posted a 16.6 per cent rise in consolidated net profit at Rs 5,197 crore for the December 2020 quarter, and increased its revenue growth guidance for FY21 to 4.5-5 per cent on the back of large project wins and strong deal pipeline. Wipro posted an about 21 per cent jump in consolidated net profit at Rs 2,968 crore for the December 2020 quarter, and said the demand environment is improving steadily. Domestic equities witnessed a brisk recovery from the day's low mainly led by a rebound in FMCG and pharma stocks, said Binod Modi, Head- Strategy at Reliance Securities. IT index has been the most surprising as profit-booking was visible in many IT stocks despite strong Q3 numbers and upbeat guidance shared by the managements, he added. "We believe underlying strength of the market remains intact and any correction in the market is likely to be bought out. Sustained recovery in key economic data for Dec'20, better-than-expected 3Q FY21 corporate earnings so far and upbeat managements' commentaries continue to augur well for the market," he said. BSE capital goods, oil and gas, energy, healthcare, FMCG and industrials indices rose up to 1.67 per cent, while metal, basic materials, consumer durables, bankex, teck, finance and IT closed with losses. Broader BSE midcap and smallcap indices jumped up to 0.29 per cent. On the macroeconomic front, the wholesale price-based inflation moderated to 1.22 per cent in December as prices of kitchen staples onion and potato eased, government data showed on Thursday. Meanwhile, Fitch Ratings said the Indian economy will suffer lasting damage from the coronavirus crisis, with growth slowing down after an initial strong rebound next fiscal. Global markets looked beyond US President Donald Trump's record second impeachment and focussed on his successor Joe Biden's proposed USD 2 trillion stimulus programme. Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo ended in the positive territory, while Shanghai was in the red. Stock exchanges in Europe were also trading with gains in early deals. The global oil benchmark Brent crude was trading 0.12 per cent lower at USD 55.99 per barrel. The rupee gained for the third straight day and closed 11 paise higher at 73.04 against the US dollar. Foreign institutional investors remained net buyers in the capital markets, snapping up shares worth Rs 1,879.06 crore on Wednesday, according to provisional exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/apps/news/the-indian-government-may-call-whatsapp-to-explain-why-its-new-data-sharing-terms-apply-in-india-but-not-in-europe/articleshow/80262586.cms" data-type="tilCustomLink"> The Indian government may call WhatsApp to explain why its new data privacy policy applies in India but not in Europe</a> <a href="https://www.businessinsider.in/politics/world/news/trump-becomes-first-president-to-be-impeached-twice-as-house-charges-him-with-inciting-an-insurrection/articleshow/80260200.cms" data-type="tilCustomLink">Trump becomes first president to be impeached twice as House charges him with inciting an insurrection</a>

TCS, RIL push the market to new records — Nifty inches closer to 14,600

New Delhi, Jan 10 () India's largest IT services firm Tata Consultancy Services (TCS) on Friday said the Supreme Court has stayed the NCLAT order that directed the reinstatement of Cyrus Mistry as a director of the company.
Earlier this month, TCS had filed an appeal in Supreme Court to stay the NCLAT judgement dated December 18, which directed reinstatement of Cyrus Pallonji Mistry as Director of the company for rest of the tenure.
"The Hon'ble Supreme Court of India has, vide its order dated January 10, 2020, granted a stay on the
operation of the said judgement and has posted the matter for detailed hearing at alater date," TCS said in a regulatory filing on Friday.
The Supreme Court has also stayed in toto the NCLAT order restoring Mistry as executive chairman of the Tata Group, observing that there were "lacunae" in the orders passed by the Tribunal.
 Meanwhile, in a separate filing, the Mumbai-based company has said it will announce its financial results for the December quarter on January 17. 
The company has set January 25 as record date for payment of the third interim dividend (if declared). 
TCS said its board will meet on January 17 to approve the audited financial results for the December 2019 quarter. 
The board will also consider declaration of a third interim dividend to the equity shareholders, it added. SR MKJ

TCS gets Supreme Court's stay on NCLAT order reinstating Mistry as director

<ul><li>Earnings season will begin next week with the results of major IT companies -- TCS on April 11 and Infosys on April 13.</li><li>Digital transformation deals continue to boost IT sector’s growth along with rupee depreciation in the recent months benefiting the sector.</li><li>However, profit margins of these companies are expected to be under pressure because of increase in employee salaries and record hiring.</li></ul>The March quarter earnings season will begin next week with the results of major information technology (IT) companies such as Tata Consultancy Services (TCS) on April 11 and Infosys on April 13. Most analysts believe March is a seasonally weak quarter for IT companies and they expect moderate earnings growth amid margin pressures. The profit margins of IT companies are expected to be under pressure because of increase in employee salaries and record hiring. “Sequential growth for Indian IT will be moderate in March 2022 quarter and in line with historical seasonal trends. Margins will remain under pressure resulting from elevated wage increases, onsite as well as offshore,” said Kotak Institutional Equities. The entire IT sector is struggling to retain employees including top five companies. In fact, in the last quarter <a href="https://www.businessinsider.in/tech/enterprise/news/more-employees-are-leaving-tech-mahindra-than-tcs-and-wipro/articleshow/89291721.cms">more employees left Tech Mahindra </a>than at TCS and Wipro. The report added that talent shortage continues even as the industry has added a record number of freshers. High cost to backfill attrition and retain talent will seep into margins across companies. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Expected revenue growth in Jan-Mar* </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.6% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.2% </td></tr></tbody></table>Source: Emkay Research*Revenue growth in constant currency on a sequential basis Meanwhile, the growth momentum may sustain due to healthy broad-based demand as firms across the world have increased spending on new technologies. “The demand environment is robust at present. There could be moderate risk to demand as fallout of the Russia-Ukraine imbroglio starts impacting key economies. Nonetheless, we believe double-digit growth is feasible for many,” said a report by Kotak Institutional Equities. Higher employee cost and shortage of skilled talent will remain the key challenges in the short term for IT companies. Investors will keenly monitor the management commentary on any impact on technology spending from higher energy prices, inflation and potential economic slowdown, demand trends in key verticals such as banking, financial services and insurance (BFSI), retail, manufacturing and communications, and the attrition rates. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Results date </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 11 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 13 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 29 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 21 </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/unacademy-reportedly-lays-off-1000-employees-from-sales-business-and-other-functions/articleshow/90709336.cms">Unacademy reportedly lays off 1000 employees from sales, business and other functions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/bharatpe-ceo-takes-a-jibe-at-ashneer-grover-says-no-money-left-to-pay-salaries-since-grover-stole-it-all/articleshow/90706030.cms">BharatPe CEO takes a jibe at Ashneer Grover, says no money left to pay salaries since Grover stole it all</a>

Profit margins of IT companies must be under pressure for January-March quarter due to record hiring and salary hikes

<ul><li>Tata Consultancy Services (TCS) has announced a second salary hike for its employees within a span of six months.</li><li>Last year in October, the IT major increased salaries by 6% to 8%.</li><li>This time around the company plant to hike wages by the same amount resulting in a cumulative boost of 12% to 14%.</li></ul>India’s biggest information technology (IT) services company, Tata Consultancy Services (TCS), is set to dole out a second round of increments for its employees within a span of six months. The last salary hike was announced by the IT major in October last year, where the increase in wages was between 6% to 8%. Sources told Business Insider, on the condition of anonymity, that the salary increments will be around the same this time around as well. This means employees will have received a cumulative boost of around 12% to 14%. “We can confirm that we are on track to give increments to all associates across our geographies effective April 2021, in line with our benchmarks,” a TCS spokesperson told Business Insider. This comes after TCS’ attrition rate dropped to a record low of 7.6%, as of 31 December 2020. The company currently has 4,69,261 employees under its wing after adding 15,000 more to its roster between the months of September to December. According to Milind Lakkad, head of human resources at TCS, over 96% of the company’s employees were still working from home before the New Year with only 3.4% in office. Despite the challenges caused by the COVID-19 pandemic, TCS reported its strongest Q3 growth in nine years in 2020. SEE ALSO: <a href="https://www.businessinsider.in/policy/news/indias-supreme-court-looks-into-allegations-of-nearly-four-crore-ration-cards-being-cancelled-because-they-were-not-aadhaar-linked/articleshow/81570339.cms">A Dalit mother lost her ration card and then her child to starvation — her fight for justice has now become a national cause at the Supreme Court</a> <a href="https://www.businessinsider.in/international/news/japan-is-the-only-country-that-does-not-allow-same-sex-marriage-within-the-g7/articleshow/81563467.cms">Japan’s same-sex marriage ban ruled ‘unconstitutional’ as India’s LGBTQ community waits in hope</a> <a href="https://www.businessinsider.in/science/space/news/finnish-photographer-jp-metsavainio-took-over-a-decade-and-1000-hours-of-photography-to-create-this-picture-of-the-milky-way-and-20-million-stars/slidelist/81563516.cms">It took over a decade and 1,000 hours of photography to create this picture of the Milky Way</a>

TCS to dole out a second salary hike within a span six months

<ul><li>Tata Consultancy Services (TCS) is now worth more than ₹10 trillion after the company's share price jumped by more than 7%.</li><li>The rally comes after the company announced that its board of directors will be considering a proposal to buyback equity shares at the earnings meeting this week.</li><li>TCS also said that ₹1,218 will appear as an ‘exceptional item’ on its balance sheets in reference to its ongoing legal dispute with EPIC Systems in an earlier filing.</li></ul>Tata Consultancy Services (TCS) market cap is at a record high with its valuation hitting ₹10.16 trillion after the company's shared rallied by more than 7% today. The Indian IT service behemoth's earnings are just around the corner. At the board meeting this week, among other things, the company’s directors will also consider a proposal about the <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/93BCBE28-2FD3-492A-82AC-C4A758576A6E-072450.pdf">buyback of equity shares.</a> <div type="image" title="TCS share price 1 (1)" msid="78493313" hostid="261" caption="&amp;lt;p&amp;gt;TCS share price over the last one month&amp;lt;/p&amp;gt;"></div> Even though TCS has not revealed any buyback details, its share price reached a new 52-week high, hitting ₹2,728.95. What is a share buyback? A buyback allows a company to buy back its shares from existing shareholders, usually at a price higher than what is prevailing in the market. It’s a way for companies to invest in themselves. The last time TCS went for a share buyback programme was in 2018 for a whopping ₹16,000 crore. It bought back equity shares at ₹2,100 a piece and garnered over 7.60 crore shares. At the time, the company said the mega buyback offer was a part of its long-term capital allocation policy of returning excess cash to shareholders. In an earlier filing, TCS also revealed that ₹1,218 will appear as an ‘exceptional item’ on its balance sheets in reference to its ongoing <a href="https://www.businessinsider.in/business/corporates/news/tcs-420-million-punitive-damages-ruled-excessive-by-us-court-to-be-reassessed-for-a-second-time/articleshow/77670645.cms">legal dispute with EPIC Systems</a>. It took TCS less than one month to earn another ₹1 lakh crore company Last month, TCS was the <a href="https://www.businessinsider.in/stock-market/news/after-reliance-tcs-becomes-second-indian-firm-to-cross-9-lakh-crore-market-valuation/articleshow/78104482.cms">second Indian company to cross the ₹9 lakh crore threshold</a> after Mukesh Ambani’s Reliance Retail. In less than a month, it has now crossed the ₹10 lakh crore marker as well. This year, the company’s stock has gained 25% so far despite the bloodbath caused by the impact of the coronavirus pandemic and associated lockdowns. <div type="image" title="TCS share price 2 (1)" msid="78493386" hostid="261" caption="&amp;lt;p&amp;gt;TCS&amp;#39; share price since January&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/indusind-icici-rbl-axis-hdfc-kotak-mahindra-bank-share-price-and-other-stocks-surge-on-loan-moratorium-case/articleshow/78486360.cms">Bank stocks surge after government agrees to waive off interest on loans up to ₹2 crore</a> <a href="https://www.businessinsider.in/tech/news/vijay-shekhar-sharma-fires-the-shots-paytm-launches-its-own-android-mini-app-store-to-take-on-google/articleshow/78484994.cms">Vijay Shekhar Sharma fires shots – Paytm launches its own Android mini-app store to take on Google</a> <a href="https://www.businessinsider.in/defense/news/next-round-of-india-china-corps-commander-talks-scheduled-for-october-12/articleshow/78485609.cms">Next round of India-China Corps Commander talks scheduled for October 12</a>

TCS' value crosses ₹10 trillion after share price rallies more than 7% ahead of earnings

<ul><li>TCS has signed a 6-year partnership with the <keyword id="27218" type="PERSON" weightage="20" keywordseo="London-Marathon">London Marathon</keyword> as its <keyword id="11403599" type="UNKNOWN" weightage="20" keywordseo="title-partner">title partner</keyword> where the organization will use <keyword id="6355118" type="UNKNOWN" weightage="20" keywordseo="technology">technology</keyword> to enhance the overall experience of the event.</li><li>Over the years, TCS has associated with some of the biggest running events in the world, events that are spread across 4 continents and 12 different cities. </li><li>We speak to <keyword id="11413387" type="UNKNOWN" weightage="20" keywordseo="michelle-doti-taylor">Michelle Doti Taylor</keyword>, Head of Global Sports Sponsorships at TCS who has been instrumental in making a lot of these associations a reality. Taylor tells us all there is to know about the London Marathon association and also tells us why sports marketing is a critical strategy for brand TCS.</li></ul>The London Marathon is all set to become more accessible and inclusive and it is <keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword> (TCS) that is making it possible. TCS recently signed a six-year partnership as the title partner of the London Marathon from 2022, following this year's race on October 3. TCS has developed the marathon’s official event app that allows participants and spectators, from anywhere in the world, to experience the marathon. Over the years, TCS has associated with some of the biggest running events in the world, events that are spread across 4 continents and 12 different cities. Michelle Doti Taylor, Head of Global Sports Sponsorships at TCS has been instrumental in making a lot of these associations a reality. She currently overlooks a portfolio of 14 sponsorships. In a recent conversation with her, we tried to understand what the London Marathon partnership entails, why sports marketing is so crucial for TCS, how it has helped the organization build brand TCS into what it is today. <cmsannotation type="cmsannotation" annotationid="All about the London Marathon" text="All about the London Marathon">All about the London Marathon</cmsannotation> TCS recently announced that it will become the title partner of the London Marathon from 2022, following this year’s race on October 3. While the organization has been partnering with London Marathon as its <keyword id="2760042" type="PERSON" weightage="20" keywordseo="technology-partner">technology partner</keyword> since 2016, this new expanded partnership would mean TCS will make the best use of technology to further enhance the marathon experience and promote a healthy lifestyle. TCS will be responsible for personalizing experiences for all participants, spectators and sponsors by using data, to make the event even more accessible and inclusive. Talking about TCS’ new role as the title partner for the London Marathon, Taylor said, “TCS has been committed to running for years. We've been involved in global running events for over 10 years now, and a partner with London Marathon since 2016. We've had this relationship for a while where we have had the time to understand the event. We always had greater ambitions for the partnership and in running and in what running can do for the community and for TCS. So when this opportunity came about, we couldn't have been more excited to build on a lot of the work that we' had already been doing with the London Marathon and to take on a bigger role and see how we can grow and tell more of TCS’ story through marathoning and through this event.” TCS has developed the official event app and in 2020, the app was updated to support participants in the first virtual London Marathon during the pandemic. This year too, TCS aims at making the overall experience more engaging for participants and spectators. “The app has really being a game changer for the sport. In the past when spectators would come to a marathon event, you've got a 26.2 mile course with 1000’s of runners. Being able to see your person was always left on chance. But this technology helps track the runners which really changed the sport from not just the spectator standpoint, but also for the runners. To be able to hear cheers from their loved ones at the point where they needed it the most on the course to really rallying them across the finish line, it has really been amazing. That's going to continue to be our hero activation across London and we'll certainly continue to do more with it as technology evolves. We really want to enhance the experience.” In 2020, TCS updated the app to support participants in the first virtual London Marathon during the pandemic. The plan is to use digital innovation to further enhance the event experience for all future races which will continue to be a hybrid of physical and virtual events. This year, around 50,000 runners will take part in the main physical event and a further 50,000 will participate in the virtual event. “In 2020, when the pandemic hit and the whole world was trying to figure out how we're going to move forward, technology became the key across all industries on how we would progress and how we could still keep connected. And it was no different in sport and in marathon too. So TCS was able to work with all of our partners, in particular the London Marathon, to really pivot the live event to virtual and be able to deliver this incredible experience to people interested anywhere in the world. And that opened up the doors to making the marathon really more accessible. In the past, if you wanted to participate in the London Marathon, you had to have the means and funds to be able to travel to London, to be able to get an entry, which is also incredibly hard. And through this technology, we took the race to people while also giving them a taste of London where they were able to hear the sights and sounds of the city while they were running in their own neighborhoods. It was a really exciting experience in a really challenging time, to be able to connect runners globally and we're looking forward to continuing our work towards really personalizing the experience,” she added. <cmsannotation type="cmsannotation" annotationid="TCS and the sports marketing connect" text="TCS and the sports marketing connect">TCS and the sports marketing connect</cmsannotation> Despite being a global IT services, consulting and business solutions organization, TCS has a historic track record with major marathons across the world, including New York, Amsterdam, Singapore, and Mumbai. TCS even sponsors an F1 driver in Japan, through Nakajima Racing. So what is TCS’ connect with sports? “Our chairman at the time was trying to improve his own health and he started his own walking and running routine. And when he saw how it really improved his quality of life, he said, ‘If this is so good for me, imagine how good it will be for all of our employees’. So TCS started Fit4Life, and our employees immediately jumped on that and started getting active themselves. Again TCS looked inside and said, ‘If this is doing such great things for our employees, what about our clients and the communities where we work and live?’ And that's where TCS started to pivot and look at sports sponsorships and look at how these sponsorships are giving communities an opportunity to get healthier and fit. Marathons are huge milestones for people but also, marathons give a huge platform to fundraising and charities across the board. In many ways, marathon is an analogy for life and we feel it’s a perfect alignment for us,” explained Taylor. <cmsannotation type="cmsannotation" annotationid="Fortifying Brand TCS" text="Fortifying Brand TCS">Fortifying Brand TCS</cmsannotation> While there are many facets to building a brand, for TCS, its largest investment has been towards its expansive global portfolio of marathon sponsorships. In 2004, after TCS’ marketing department was formalized, it slowly started leveraging sports, not only to boost its brand but to also engage its stakeholders. On how these associations have transformed brand TCS into what it is today, Taylor said, “I always say that TCS really has a soul. As a company, we believe in community. Through all these sporting partnerships, we started out with a shared purpose around community and improving people's lives. A lot of our race partners are very focused on improving people's lives through running and TCS believes in that as well. Our expertise is around technology so we just tap into our knowledge of technology to see how we can give back to the community and improve people's lives.”

How sports marketing has helped fortify brand TCS

By Yoshita Singh New York, Jun 24 () The New York City Marathon, considered the world's largest and one of the most prestigious events in the running calendar, has been cancelled this year due to concerns over the COVID-19 pandemic. The marathon, sponsored by Indian IT giant Tata Consultancy Services (TCS), was set to take place on November 1 and the 2020 marathon would have been the 50th running of the iconic event. New York Road Runners (NYRR), the event organiser, in partnership with the Mayor's Office of the City of New York, decided to cancel the world's largest marathon "due to coronavirus-related" health and safety concerns for runners, spectators, volunteers, staff, and the many partners and communities that support the event. "While the marathon is an iconic and beloved event in our city, I applaud New York Road Runners for putting the health and safety of both spectators and runners first," said Mayor Bill de Blasio, adding that the 50th running of the marathon will be hosted in November 2021. New York state had been the epicenter of the coronavirus pandemic in the US, recording over 388,500 cases and more than 31,200 deaths so far. The COVID-19 cases in the State and the city are declining, yet authorities have urged residents to continue wearing masks and take other precautions amid concerns that there could be a spike in infections if people lower their guard and do not follow social distancing guidelines. President and CEO of New York Road Runners Michael Capiraso said in a statement that cancelling this year's TCS New York City Marathon was "incredibly disappointing" for everyone involved, but it was clearly the course that needed to be followed from a health and safety perspective. This year's marathon was set to be the 50th running of the event, which began in 1970 and has grown to become the world's largest marathon with 53,640 finishers in 2019. Runners registered for the 2020 TCS New York City Marathon and others from around the world can participate in the third annual TCS New York City Marathon – Virtual 26.2M taking place from October 17 through November 1. The marathon has raised USD 350 million for charities since 2006. The 26.2-mile marathon is the latest in a series of large-scale events that have been cancelled around the world due to the coronavirus pandemic, which has infected over 9 million people worldwide, including 2.3 million in the US, and claimed over 478,200 lives, with 121,279 deaths in America, according to Johns Hopkins University estimates. YAS MRJ MRJ

TCS-sponsored New York City Marathon cancelled due to COVID-19

<ul><li>Nasdaq-listed IT firm <keyword id="28721" type="General" weightage="20" keywordseo="cognizant" source="Orion">Cognizant</keyword> is going through a bad phase in terms of employees leaving the organisation.</li><li>The attrition rate of Cognizant is 33% much more than its Indian counterparts <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword> with 11.9%, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> with 20.1%.</li><li>The IT giant added a record number of employees to fill the gap.</li></ul>The Indian information technology (IT) industry is reeling with a very high number of employees leaving the firms as the demand for digital services rises and so does the talent serving it. US-based Cognizant in its September quarter saw 33% attrition rate, which is far more than its Indian counterparts Tata Consultancy Services (TCS) with 11.9% and Infosys with 20.1%. <div type="image" title="cognizant attri" height="900" width="1200" msid="87327381" hostid="261"></div> As a result of the rising attrition rate, the company has brought in a number of employees onboard. It added 17,200 new employees in the September quarter taking the total headcount to 3.18 lakh. “While the industry faces an unprecedented competition for talent, we attracted a record number of employees to Cognizant, and stayed focused on delivering against our client commitments and our strategic repositioning,” said Brian Humphries, chief executive officer at Cognizant. The issue is not limited to a few <keyword id="6357647" type="General" weightage="20" keywordseo="it-companies" source="Orion">IT companies</keyword> but across the industry and to mitigate the number of employees leaving the firm, companies are deploying measures like broad-based hikes, promotions and retention incentives. Meanwhile, the company reported a double digit revenue growth of 12% to $4.7 billion in the third quarter (July-September), 2021. <div type="image" title="cog rev" height="900" width="1200" msid="87328900" hostid="261"></div> Further, the company has guided for $18.6 billion revenue in FY2021. The company follows a January to December accounting year. Shares of most IT companies were trading a tad lower on Thursday morning. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Share price change on October 28 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.14% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">L&amp;T Technology Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.18% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.12% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mphasis </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.36% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nykaa-raises-2400-crore-from-174-anchor-investors/articleshow/87325004.cms">Nykaa raises nearly ₹2,400 crore in anchor investment from Government of Singapore, Goldman Sachs, JP Morgan and others</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nykaa-ipo-will-open-today-here-is-how-to-apply-via-bank-and-apps-like-zerodha-paytm-money/articleshow/87312035.cms">Nykaa IPO will open today — here is how to apply via bank and apps like Zerodha, Paytm Money</a>

Cognizant faces the worst attrition rate in the industry, hires record number of employees to fill the gap

<ul><li>IT major Wipro’s first quarter net profits grew by 12.6% at ₹23.9 billion as compared to that of the same quarter last year, which was at ₹21.2 billion </li><li>The company’s revenues for the first quarter of 2019-20 grew by 5.3% to ₹147.2 billion as compared to last year’s first quarter revenues at ₹139.8 billion. </li><li>However, the operating margins for the IT services segment had a flat growth at 18.4%, growing by a mere 0.8%. </li></ul>IT major Wipro’s first quarter net profits grew by 12.6% to ₹23.9 billion as compared to that of the same quarter last year. This was better than the 11% profit growth clocked by Tata Consultancy Services (TCS) and Infosys’ 5%. Wipro said it expects its IT services revenue will grow, at best, 2% in the following three months ending September, similar to that of Infosys. Infosys had projected a total growth 8.5% to 10% for the full year ending March 2020, which would imply a compounded quarterly growth 1.6% to 1.9%, according to a BOBCAPS research report. TCS to hinted at a double-digit growth for the year. Wipro’s revenue for the first quarter of 2019-20 grew by 5.3% to ₹147.2 billion but the margin in the IT services segment flattened at 18.4%. “We had a slower start to the year, we however remain focused on our operations and continue to invest in talent and capabilities for the future,” said Jatin Dalal, Chief Financial Officer of Wipro. New deals All three major IT service providers from India have bagged new clients helping their outlook going forward. “Our efforts on client mining have resulted in an addition of three customers in more than $100 million bucket. We will continue to build differentiated capabilities to drive business transformation for our customers by investing in our big bets,” said Abidali Z. Neemuchwala, CEO and Executive Director at Wipro. TCS and Infosys too, announced big signings last week along with their quarterly numbers. TCS bagged new deals worth $5.7 billion in the last quarter while Infosys set a new record for itself with new deals worth $2.7 billion. However, the good news for investors is that Wipro plans to continue with its proposed buyback offer of 323 billion shares, which was approved by the board in April, after a green light from market regulator SEBI. The final shareholder approval came in on June 21. Investors may have been worried that the company may rollback the plan after the government decided to impose a 20% tax on share buyback because companies were using share buybacks to give money back to shareholders instead of dividends, which are also taxable in India.

You Searched For "tcs new record" and got 9 results

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How sports marketing has helped fortify brand TCS

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TCS-sponsored New York City Marathon cancelled due to COVID-19

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Cognizant faces the worst attrition rate in the industry, hires record number of employees to fill the gap

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Wipro’s profit grows faster than TCS and Infosys — but it’s share buybacks and new deals keeping hopes up for IT investors

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