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<ul><li>Any lead that Tata Consultancy Services (TCS) had gained over Infosys has nearly been erased.</li><li>Infosys outperformed TCS in Q2 2020 and it looking to boost the growing revenue from its digital services.</li><li>TCS' digital business, on the other hand, is slowing down.</li></ul>Infosys performed considerably better than Tata Consultancy Services (<a href="https://www.businessinsider.in/business/news/tcs-q2-earning-report-profit-at-8042-crore/articleshow/71521639.cms">TCS</a>) during the second quarter of the current financial year. The Indian MNC has even raised its full-year guidance to 9% to 10%. Valuation premium that TCS had gained over Infosys through the early part of 2019 has been nearly been erased, according to Nirmal Bang Institutional Equities. Infosys expects bottom line growth from its digital sector where it feels it will be able to capture a higher premium from its clients. "Digital pricing is a new area we are looking at — how we price digital service and command a premium from our clients," said CFO of Infosys, Nilanjan Roy, during the earnings call. "Our digital margins are higher than our core business, that's something we already know. I think the way we repurpose our digital talent and looking at the scarcity, we think there's an opportunity of how to price this scarce talent — depending on skills, experience, what sort of clients they work with," he added. TCS' digital business, on the other hand, has slowed down from being on track to cross 40% last quarter to a mere 28% at the end of September 2019. "We downgrade TCS to neutral and strike it off our list of conviction picks following 4% EPS (earnings per share) cut and a weak growth trajectory," according to analysts at HDFC Securities Institutional Research. Here's a comparison of key metrics of the two tech giants in the three months between June and September 2019: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;"> </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;">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;">TCS </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;">Revenue growth in constant currency terms compared to last year </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;">11.4% </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;">8.4% </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;">Full-year guidance </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;">9-10% </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;">Single digit growth </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;">Deal wins </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;">$2.8 billion </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;">$1.16 billion </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;">Hiring </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;">7,457 </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;">14,097 </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;">Digital services growth </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;">38.4% </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;">27.9% </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;">EBIT Margin </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;">21.7% </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;">24% </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;">Forex impact </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;">(-)15 bps (June-Sep) </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;">(-)260 bps (Apr-Sep) </td></tr></tbody></table>

Here’s how Infosys and TCS earnings performance in Q2 2020 stack up against each other

<keyword id="3294191" type="UNKNOWN" weightage="100" keywordseo="TCS-Mumbai">TCS Mumbai</keyword> campus is home to a newly built executive briefing centre, which in fact is just a dreary name for what is actually a high-tech salesroom for its potential customers. 
 
The room has motion-sensing walls, robotic shopping carts and 3D-printed knee replacements, and has been made to attract customers so that TCS can own a bigger share of digital tech spends. 
 
With these digital solutions, most of which are being used by at least one customer, TCS is of the view that it can win larger mandates because the digital space has grown to more than $100 million, changing the old ways of doing business. 
 
"Being digital involves demonstration. All you see here physically is just visualization of our digital solutions. All of them actually work on the cloud," N Chandrasekaran, TCS CEO, told reporters. 
 
The briefing centre was unveiled for analysts last week, during which the company also broke down the composition of its digital revenue, which currently stands at about $2 billion. 
 
Reportedly, more than half of the company's customers are using some of its digital services, while banking and financial services contribute only 12% to the company's digital revenue, even though they account for about 41% of the total revenue. About 19% of its digital revenue comes in from the retail sector, as compared to about 14% of total revenue. 
 
Analysts are of the opinion that digital would help the company accelerate its growth, which hasn’t been too great over the last year. 
 
"We return from the investor day with greater confidence about the company's digital and automation strategy. We remain convinced that growth will re-accelerate from current levels in FY17 and beyond despite TCS' large scale," Sagar Rastogi, analyst with Ambit Capital , said in a note. As per Rastogi, TCS can post 11% and 13% dollar-denominated growth in FY17 and FY18, respectively. 
 
<a href="http://www.livemint.com/rf/Image-621x414/LiveMint/Period1/2014/07/18/Photos/TCS1--621x414.jpg">Image source</a>

Motion-sensing walls, robotics and 3D print prosthetics will help TCS gain larger digital share

<ul><li>Tata Consultancy Services (TCS) will add 18,000 freshers in the next three months </li><li>Its profits too grew by 10.8% to ₹8,131 crore as compared to Rs 7,340 crore in the first quarter last year. </li><li>TCS has trained over 315,000 employees in new digital technologies. </li></ul>The country’s largest company by value, Tata Consultancy Services (TCS) will add 18,000 freshers in the next three months, according to a press release. This is after they added 12,356 employees during the first quarter of the year, which is the highest ever addition in the last five years. They had given out 30,000 joining letters to freshers and 40% of them have come onboard already. This hiring plan comes on the back of strong growth in revenues at 10% in the first quarter ending June 2019. Its profits too grew by 10.8% to ₹8,131 crore as compared to ₹7,340 crore in the first quarter last year. The company also said that its attrition is at 11.5%. “TCS account teams are better placed to retain the contextual knowledge gained over time, and use that to build differentiated solutions tailored to each customer’s unique requirements,” said Milind Lakkad, Global Head, Human Resources in a press release. Digital Transformations TCS also said that more of its customers are undertaking digital transformation projects, swelling its orderbook. “We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter,” said Rajesh Gopinathan, Chief Executive Officer and Managing Director of TCS. During the quarter, the company gained two large financial sector clients during the quarter. “We are confident of the future as we embrace deeply the Machine First philosophy in delivering experiential and modern solutions to our clients,” said N Ganapathy Subramaniam, Chief Operating Officer &amp; Executive Director. To be able to deliver these services, TCS has also trained over 315,000 employees in new digital technologies.

TCS to add 18,000 freshers in the next three months

<ul><li>The technology major reported a 0.3% growth in dollar revenue in constant currency terms.</li><li>Operating margin of 25% was better than most estimates.</li><li>The company declared a dividend of ₹5 a share along with its earnings.</li><li>These are some of the big deal wins as declared by the management.</li></ul>Technology major <keyword id="385529" type="PERSON" weightage="20" keywordseo="TCS-revenue">TCS revenue</keyword> barely grew in the three months between October and December 2019. However, the Chief Executive Officer (CEO) Rajesh Gopinathan highlighted a slew of large deals that the company bagged in the last quarter. The aggregate TCV for this quarter is $6 billion, adds up to $18 billion for the first three quarters of the fiscal year. It shows the level of activity in the market, the CEO added. These are the new deals and extensions listed by the company in its statement <ul><li>Walgreens Boots Alliance, a leading North American pharmacy retailer, selected <keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> as trusted partner to accelerate the work on transforming its critical pharmacy operating system leveraging TCS contextual knowledge. The solution will be cloud native with modern architecture enabling <keyword id="6355515" type="UNKNOWN" weightage="20" keywordseo="business">business</keyword> agility and improved customer's experience. </li><li>Petco, America's leading pet specialty retailer, selected TCS Optumera™, the award-winning AI-powered merchandize optimization suite, to hyper-localize and optimize its store products and space strategies in an integrated way, with greater speed and precision in decision-making, and deliver an improved end-to-end customer experience. </li><li>IAG Tech, part of International Airlines Group, has extended its strategic technology partnership by selecting TCS to support existing datacenter infrastructure and services. This multi-year managed services contract will optimize and support datacenter operations, standardize processes and technologies, and reduce the legacy IT footprint to enable IAG's datacenter transformations across all operating companies. </li><li>Chosen by Bayer, a leading life sciences company, as a strategic partner to provide IT transformation services across the pharmaceuticals and consumer health business, as well as in the area of corporate functions and HR across the enterprise. TCS was selected for its capabilities in research and development, as well as track record in delivering large and complex engagements. </li><li>Selected by a France-based global pharmaceutical company, for end to end transformation of the user experience, enabled by Digital Workplace Services, leveraging the combined strengths of next gen analytics and cognitive automation with robust global service delivery capability. </li><li>Selected by one of the largest pan-Asian life insurance groups to deliver a major cloud transformation and modernization program, leveraging Agile techniques, to enable hyper personalized customer experience and to support future growth. </li><li>Engaged by a UK-based multinational pharmaceutical company to deliver an Agile/Dev-Ops transformation of its IT Research and Development operating model. This value-driven Agile culture will enable the company to deliver "medicines that matter" and change patient’s lives by focusing on a unique equation combining Science x Technology x Culture. </li><li>Chosen by a global banking and financial services holding company as its partner for transforming its FDIC compliance regulatory reporting. </li><li>Selected by CSL Behring, a leading rare diseases biotech company, as a strategic business technology partner to help consolidate and transform its operations and business enablement model and support its accelerated growth plans. </li><li>Chosen by a major UK-based financial services company, to re-imagine and transform the employee experience by implementing a persona-centric, modern and collaborative Digital Workplace to dramatically improve workplace productivity, co-ordination, agility and innovation. TCS will also transform the security ecosystem to provide superior protection against major cyber threats. </li><li>Selected by a leading UK-based multinational energy and utilities company as their strategic innovation-ecosystem partner for transforming their product portfolio and innovating at scale. The engagement includes building capabilities for legacy modernization, cloud transformation, integration of acquisitions, and AI-based data security compliance with GDPR/CCPA regulations. </li><li>One of Australia’s leading banks is expanding its strategic partnership with TCS to drive service management transformation in its Consumer Banking, Business Banking, Institutional Banking businesses and corporate functions. As the single partner of choice, TCS will enable this transformation leveraging TCS’ Run-the-Bank framework and assets, Machine First™ Delivery Model and its cognitive automation product, ignio™. </li><li>Chosen by a pioneering high-end luxury fashion group based in France, to transform their global finance and supply chain functions for better customer experience and efficient operations. TCS will lead the design and deployment of the enterprise resource planning template to rationalize applications for their North America operations to ensure faster time to market, streamlined fashion management supply chain cycle and greater efficiency. </li><li>Selected by a US-based multinational pharmaceutical company for enabling real-time analytics to optimize their business functions including manufacturing, sales, transportation, scrap &amp; raw materials inventory, and quality metrics analysis. TCS will develop a solution on a leading public cloud platform using state-of-the-art data analytics and visualization technologies. </li><li>Selected by a global leader in the transportation and storage of specialty chemicals, to stay ahead of changing markets by modernizing its big data platform on the cloud. This will help unlock the power of data, accelerate the growth and transformation journey for organizational agility, and deliver enhanced business ROI. </li><li>Engaged by an American Fortune 100 energy company, for enhancement and managed services for their IoT-based mobile field management suite of applications. This application is used to track their real time field problems, relevant maintenance service, resource planning, outage management and periodic inspections. </li><li>Engaged by one of the largest telecom service provider in USA, to implement an online device registration portal leveraging a leading IoT platform to enhance their connectivity management API with real time inputs, provisioning, monitoring, usage management, reporting &amp; analytics integrated with messaging, location services and firmware management features. </li><li>Engaged by a leading US-based automated pool accessories manufacturer as partner in their connected pool IoT solution for its line of residential pool equipment to generate additional revenue streams and increased market share from hi-tech value-added services. </li><li>Engaged by one of the largest American multinational technology companies, to transform their current legacy and home-grown HR systems and processes, and enable their transition to a unified cloud platform for seamless employee onboarding, superior engagement and experience. </li><li>Selected by a leading American health insurer to improve engagement of customers and partners, while creating new efficiencies in related business functions. A leading cloud-based health insurance CRM platform will replace the legacy front and back-office systems, reimagining how business is done and provide a unified experience across business functions. </li><li>Engaged by a US-based bank to streamline its customer engagement channels and operations, migrating its legacy technology applications to a leading cloud-based financial services CRM solution. This move will consolidate business processes and systems across its retail, wealth, and commercial lines of business, to increase customer wallet-share. </li><li>Selected by a leading networking company based in the US to manage onboarding, migration, and integration of its most recently acquired company to its operations and enterprise platforms on the cloud. This integration will ensure that the investment made in the acquisition is maximized through cross-selling solutions across the respective customer segments. </li><li>Chosen by a British semiconductor and software design company for its employee experience transformation program designed to consolidate its diverse HR portfolio into a harmonized platform which will help improve employee experience. </li><li>Engaged by a global pharmaceutical giant based in Germany to deliver digital content production services for its global marketing needs as part of its renewed go to market strategy. </li><li>Selected by a global medical devices company, to prepare for scaling blockchain solution for tracking movement of surgical supplies. The pilot solution that has been deployed to improve visibility from manufacturing through distribution would be evolved to scale up transaction volumes in 2020. </li><li>Selected by a global leader in airline catering, retail-on-board and hospitality products and services, to host their ERP and Analytics applications on the TCS Enterprise Cloud Platform, and provide ongoing support for ERP administration. </li><li>Selected by a major UK insurer for transforming its IT infrastructure to meet dynamically growing business requirements, leveraging the TCS Enterprise Cloud Platform. </li><li>Engaged by a leading global financial services firm, as the strategic partner to modernize their application portfolio, currently on legacy mainframe systems, to a leading public enterprise cloud platform by leveraging TCS' Cloud Migration &amp; API factory model. </li><li>Chosen by a leading multinational bank based in Europe to govern and manage their risk and assurance process for security infrastructure. TCS will enable it to transform to a new operating model leveraging its Machine First approach, and migrate their SOC to a cloud to optimally support increased demand with real-time analysis and visualization of machine data. </li><li>Engaged by a Netherlands-based global semiconductor manufacturer as a delivery and innovation partner to transform their overall security posture, by setting up a robust security operations center with contextualized threat intelligence and orchestration, leveraging intelligent automation technologies. </li><li>Engaged by a leading American coffee company and coffeehouse chain to support their security operations including Public Key Infrastructure, privileged identity management, web single sign on and federation, virtual directory, external identity management and automated provisioning. </li><li>Selected by Aptiv PLC, a global technology company, as a strategic partner to continue to advance their IT Infrastructure Operations by bringing in business aligned, scalable, secure, digitally automated operations using cognitive tools powered by the MFDM™ framework. </li><li>Selected by one of the largest agricultural products firms, to provide end to end infrastructure services with a new engagement model leveraging service reliability engineering &amp; digital technologies. The scope includes cognitive technology powered service desk, field services, digital workplace services, client experience and unified collaboration services, cloud and on-premise hosting services, security and global network services. The proposed solution and operating model will prime their Global IT Infrastructure for the future, ensuring business continuity and transformation. </li><li>Selected by a global pharmaceutical company headquartered in USA, to enhance and transform their end user experience through TCS’ futuristic Digital Workplace Services Solution that is based on zero touch, nextgen technology and experience-focused services. TCS’ intuitive, immersive and intelligent UX solution, leveraging MFDM™-based service delivery, cognitive automation capabilities, and persona-based analytics, will deliver a hyper-personalized, reimagined experience to their customer-facing workforce. </li><li>Selected by a financial software and risk solutions to render digital workplace services on a hybrid cloud solution leveraging a leading public cloud platform and TCS Enterprise Cloud Platform. TCS’ Machine First design, leveraging automation and chatbots, security and support services, will result in improved customer experience, reduced onboarding timelines and higher user productivity. </li><li>Chosen by a US-based global fashion retailer to improve the customer experience and drive online business growth by implementing a leading enterprise CRM platform with a Machine First approach leveraging chat bots for enhanced response times and enriched contextual customer conversations. TCS will also drive the consolidation of multiple contact centres into a single digitally enabled multi-lingual center to enable better call handling, customer up-sell and cross-sell. </li><li>Selected by a leading US-based multinational technology company, to transform its procurement operations, deployment engineering, network deployment services. TCS will leverage its Machine First approach to automate and expedite hardware deployment and procurement functions to bring in agility and efficiencies to one of the largest and widely spread global cloud operations.</li></ul>See Also: T<a href="https://www.businessinsider.in/business/corporates/news/tcs-third-quarter-earnings-1-2-dollar-revenue-growth-ceo-commentary-and-other-highlights/articleshow/73327973.cms?src=hp_ts">CS third-quarter earnings ⁠— 0.3% dollar revenue growth, CEO commentary and other highlights</a>

These are the big deals bagged by TCS in the the last three months

<ul><li>Tata Consultancy Services (<keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword>) announced its Q2 earnings for the current financial year.</li><li>TCS reported a profit of ₹8,042 crore and revenue of ₹ 38,172 crore. </li><li>It also added 14,097 employees to its roster — the highest ever number of employees onboarded in a quarter.</li></ul> Tata Consultancy Services (TCS) shares fell by 3.65% as the share market opened today trading at ₹1931.20. Stock brokerages have cut estimates on the stock performance of TCS after a muted performance in the second quarter. Morgan Stanley has trimmed their estimates by 1- 3.5% with a target of ₹1980 per share. Phillips Capital also downgraded their estimates but expect that growth will pick up during the next financial year as strong deal momentum, lower attrition and strong cash flow kick in. Tata Consultancy Services (TCS)’s net profit for the second quarter stood at ₹8,042 crore which is a percent lower than last quarter’s ₹8,131 crore. 
 
 
 
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 Its revenue grew by 2% to ₹38,977 crore, as compared to ₹38,172 crore in the last quarter. “We ended the quarter with steady growth despite increased volatility in the financial services and retail verticals,” said Rajesh Gopinathan, CEO and MD of TCS. TCS brought 14,097 employees onboard this quarter — the highest ever number of employees added in a quarter. It plans to add another 30,000 freshers to its ranks before the current financial year ends. 
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 It’s also paying out ₹45 per share, which includes ₹40 as special dividend.. On a yearly basis, the IT giant's revenue grew by 5.8% led by a boom in its digital vertical, which grew by 27.9%. In fact, digital revenue is one-third of TCS' total revenue this quarter. Other verticals that have contributed significantly to TCS' revenue include life science and healthcare, which grew at a yearly growth rate of 13.3% and communications and media, which grew by 11.8%. Incremental weakness is coming in for TCS from retail, both in the US and in Europe. There is no change in the trend of Banking and Financial Services (BFSI), indicating that its continued to stay weak. The combination of global trend continue to remain a challenge for TCS. TCS’ pre-tax profits came in at ₹9,361 crore with profit margins at 24% — slightly lower, by 0.2%, as compared to the last quarter. See also: <a href="https://www.businessinsider.in/careers/news/tcs-plans-to-add-30000-freshers-to-its-ranks-to-reshape-its-cost-structure/articleshow/71524019.cms" style="">TCS plans to add 30,000 freshers to its ranks to reshape its cost structure</a>

TCS earnings growth gets squeezed by slowing economies across the world

New Delhi, Nov 20 () IT major Tata Consultancy Services (TCS) on Wednesday launched an innovation hub in Hyderabad with Qualcomm Technologies, Inc that will be used to build domain-specific solutions to help enterprises across industries accelerate their digital transformation journeys.
 "The new hub will be used to build domain-specific solutions that utilise the combinatorial power of AI, IoT and 5G technologies to help global enterprises across industries accelerate their digital transformation journeys," a statement said.
 It added that the hub will utilise TCS' expertise in digital technologies, along with Qualcomm Technologies' depth in 5G, edge AI and edge devices to build solutions to entirely new use-cases.
 The innovation hub will explore the possibilities opened up by 5G in different industries such as healthcare, automotive, manufacturing, retail, utilities.
 "Solutions developed at the hub will help customers embrace new business models, offer differentiated products and value-added services, deliver sophisticated customer experiences, and generate new revenue streams," it added.
 In a separate statement, TCS iON, a strategic unit of the Mumbai-based TCS, said it has launched 'TCS iON Industry Honour Certification'.
 The 'phygital' learning program will enable university students to opt for courses in domains such as AI, robotics, cloud computing, data mining, analytics, IoT, and cyber security.
 "These courses, curated in collaboration with industry experts and academia, will help students align their skills with industry applications, and become job ready. Students will be able to access these courses anytime, anywhere and on any device throughout the duration of their degree program," the statement said.
 Amity Group is among the earliest partners to sign up for the programme to equip its 1.75 lakh students with new-age skills.
 "This is yet another innovation from TCS iON that re-imagines the learning construct by seamlessly integrating energising content, industry mentors, academic experts, and industry jobs within the phygital classroom, leveraging digital technologies to drive scale and outcome impact," TCS iON Global Head Venguswamy Ramaswamy said. SR RVK

TCS partners Qualcomm to launch new innovation hub

<ul><li>Tata Consultancy Services is among the top three <keyword id="7254770" type="UNKNOWN" weightage="20" keywordseo="Most-valued-IT-service-brand">most valued IT service brand</keyword> in the world. </li><li><keyword id="6357150" type="ORGANIZATION" weightage="20" keywordseo="tcs">TCS</keyword> witnessed an increase in brand value by 23% to $12.8 billion. </li><li>With the brand value of $26.3 billion, the first position was grabbed by <keyword id="6370971" type="COMPANY" weightage="20" keywordseo="accenture">Accenture</keyword>. </li></ul> 2018 proved to be a remarkable year for one of India’s largest IT services conglomerate Tata Consultancy Services (TCS). After reaching $100 billion in market capitalisation, it is now ranked as the third most-valued IT service brand in the world for 2018-19 according to a report by <a href="http://brandfinance.com/knowledge-centre/reports/brand-finance-global-500-2019/">Brand Finance</a>. TCS witnessed an increase in brand value by 23% to $12.8 billion in that period, said the report. Accenture clinched the top spot by becoming the world’s most valuable IT brand with a brand value of $26.3 billion whereas IBM was ranked second in the global list with $20.4 billion. Apart from TCS, three other IT service companies— <keyword id="6354512" type="DOMAIN" weightage="20" keywordseo="Infosys">Infosys</keyword>, HCL and Wipro -- were able to enter the top 10 global list of most value IT service brands. TCS also emerged a leader in the Japanese market, thanks to “all-round customer experience” and use of artificial intelligence and robotic automatics in its transformation programmes. Wipro's investments in digital transformation capabilities, niche acquisitions, and a recent brand refresh, have made it the third fastest-growing brand in the IT sector, said the report. See also: <a href="https://www.businessinsider.in/facebook-is-reportedly-bringing-in-local-it-firms-to-moderate-fake-news-in-india/articleshow/67344852.cms">Facebook is reportedly bringing in local IT firms to moderate fake news in India</a> <a href="https://www.businessinsider.in/can-nilekani-the-architect-of-the-worlds-largest-biometric-project-spark-digital-payments-in-india/articleshow/67439834.cms">Can Nilekani, the architect of the world’s largest biometric project, spark digital payments in India?</a> <a href="https://www.businessinsider.in/xiaomi-apple-samsung-will-fight-over-india-as-china-sales-slump/articleshow/67488525.cms">Here's why Apple’s problem that began in China may spill over to India too</a>

TCS is now the world’s third most valued IT service brand

Bengaluru, June 18 (IANS) Tata Consultancy Services (TCS) and IBM on Thursday announced to expand their global alliance with establishing an IBM Enterprise Cloud Architecture Unit to help customers on their digital transformation journey. The IBM Enterprise Cloud Architecture Unit would include technical professionals from both companies. TCS and IBM plan to co-develop solutions designed to help clients migrate workloads across applications, analytics, data estate and platforms, using IBM Cloud Paks, enterprise-ready containerised software solutions running on Red Hat OpenShift, the companies said in a statement. "We are investing in our alliance with IBM to co-create accelerators and other assets to further enhance the speed to market of our customers' modernization initiatives and drive their transformation to become cognitive-ready enterprises leveraging the new IBM public cloud ecosystem," explained Raman Venkatraman, Global Head, HiTech &amp; Professional Services Industry Unit, TCS. The new IBM Enterprise Cloud Architecture Unit is in addition to the existing IBM Digital Experience Centre that helps clients address complex business problems across industries. "This collaboration with TCS can help businesses accelerate their digital transformation by developing cloud-based technologies leveraging Red Hat OpenShift," said Bob Lord, Senior Vice President, Cognitive Applications, Blockchain and Ecosystems, IBM. --IANS na/

TCS joins IBM to establish Enterprise Cloud Architecture Unit

E-commerce firms like Snapdeal and Amazon will have to mandatorily deduct up to 1 per cent TCS (Tax Collected at Source) while making payments to their suppliers under the GST regime which is expected to kick in from July 1, according to PTI. 
 
The model Goods and Services Tax (GST) law, finalised by the GST Council, provides for 1 per cent TCS to be deducted by the e-commerce operators. 
 
The model law provides that every electronic commerce operator, not being an agent, shall collect up to one per cent TCS, as may be notified on the recommendations of the Council, of the nvalue of taxable supplies made through it by other suppliers where the consideration with respect to such supplies is to be collected by the operator. 
 
Experts had raised concerns saying this would mean that a similar amount will have to be levied on inter-state movement of goods, taking the total TCS deduction to 2 per cent. 
 
"We have included the word 'up to' in the final model GST law. This would mean that TCS would not exceed 1 per cent of the sale proceeds," an official said. 
 
Industry has been expressing concern over the TCS provisions saying it would mean a lock-in of capital and also dissuades companies from selling through online aggregators. 
 
E-commerce companies will also have to file returns on the TCS deductions, but in case of return of goods by the consumer, these companies will not have to deduct TCS as there is no actual sale. 
 
The model law had defined 'electronic commerce' as supply of goods or services, including digital products, over electronic network. 
 
'Electronic commerce operator' would mean those persons who own, operate or manage digital or electronic facility or platform for electronic commerce.

E-commerce have to pay 1% tax
at the source after GST

IT services and consultancy major <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS) has partnered with Gujarat's Samagra Shiksha, <keyword id="14252886" type="General" weightage="20" keywordseo="gujarat-council-of-school-education" source="Orion">Gujarat Council of School Education</keyword> to train school students as well as teachers in new-age <keyword id="1458566" type="General" weightage="20" keywordseo="digital-skills" source="Orion">digital skills</keyword> such as computational and design thinking. According to a statement by TCS on Tuesday, TCS' Corporate Social Responsibility (CSR) program will bring the company's flagship global initiatives - Ignite My Future and goIT - to students and teachers in Gujarat, helping build the next generation of thinkers and innovators. TCS' Ignite My Future program is a pioneering effort to empower educators around the world through a unique approach that integrates computational thinking into core subjects like math, science, literacy, social studies, and arts. The initiatives align with the National Education Policy (NEP 2020), and look to inculcate global citizenship in students, building empathy towards critical issues in society and opening their minds to become problem solvers. In addition, it aims to build awareness among students and prepare them for the new digital economy, the statement said. "We are glad to be part of an initiative that works to add value to a student's education and help them build digital skills. The collaboration with the <keyword id="6370685" type="General" weightage="20" keywordseo="gujarat-government" source="Orion">Gujarat government</keyword> is part of our larger vision to empower people and communities. Our flagship programs - TCS Ignite My Future and goIT will be made available to 14,486 schools across Gujarat," Balaji Ganapathy, Global Head, of Corporate Social Responsibility, at TCS, was quoted in the statement. "Through this teaching-learning process, we look forward to providing regional, national, and global platforms for teachers and students to showcase some of their notable efforts in their journey of computational thinking and design thinking. We are also looking to identify and build an expert team of teachers for the State Education Department to use as a resource team for the future," Balaji Ganapathy added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-to-hike-prices-of-commercial-vehicles-by-up-to-2-from-january/articleshow/96193372.cms" style="">Tata Motors to hike prices of commercial vehicles by up to 2% from January</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/five-women-newsmakers-in-2022-in-india-droupadi-murmu-madhabi-puri-buch-samantha-ruth-prabhu-in-the-list/slidelist/96191677.cms" style="">Droupadi Murmu, Madhabi Puri Buch, Samantha Ruth Prabhu and more: Five women newsmakers of 2022</a>

TCS partners with Gujarat government to impart digital skills in schools

<ul><li>A third wave of outsourcing is on its way and <keyword id="6357549" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-companies">Indian IT companies</keyword> like <keyword id="6357585" type="COMPANY" weightage="20" keywordseo="tata-consultancy-services">Tata Consultancy Services</keyword>, Infosys and Tech Mahindra have the most to gain, according to <keyword id="6361649" type="UNKNOWN" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword>. </li><li>Riding the third wave, Indian IT services behemoths are on the edge of doubling their market share, seeing double digit revenue growth and wider margins.</li><li>TCS, in particular, will be racing ahead of the rest.</li></ul>There’s obvious opportunity for Indian IT companies like Tata Consultancy Services (TCS), Infosys, HCL Technologies and others as more businesses look to enable ‘work from anywhere’. This will be the third wave of outsourcing this millennium, according to Goldman Sachs, with the potential to double market share for Indian IT services giants, deliver double digit revenue growth and expand margins. <div type="image" title="IT market share to grow goldman sachs" msid="77864245" hostid="261"></div> <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Time period </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;">Outsourced IT services spend growth </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;">Last 10 years </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;">4-5% </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;">2021-2024 </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;">6-8% </td></tr></tbody></table>(Source: Gartner) “After a steep decline of 2.7% in USD revenues for the Top 5 Indian IT firms in FY21E due to the COVID-19 impact, we are expecting a sharp revival in growth over FY22 and FY23E,” said the global investment behemoth Goldman Sachs. The only company that seems to be left behind the fray is Wipro. <div type="image" title="Copy of IT market share to grow goldman sachs" msid="77864258" hostid="261"></div> TCS, on the other hand, may race ahead of the others. It has an edge since it’s the only Indian IT company with greater market share in healthcare than in manufacturing. <div type="image" title="Copy of Copy of IT market share to grow goldman sachs" msid="77864275" hostid="261"></div> “We see TCS as one of the largest beneficiaries of these trends given its wide array of services and capabilities, geographic presence, wide client base, consistent strong execution and ability to work remotely at a large scale with c.450K employees,” said the Goldman Sachs’ report dated August 28. Riding the increased reliance of businesses on digital technology, working from home also cuts down costs like transportation and infrastructure expenses, allowing companies to expand their margin and get a bigger bang for their buck. How Indian IT companies will ride the third wave of outsourcing Demand already exists. History also supports the conclusion that the Indian IT industry is normally a late cycle beneficiary of global changes in technology. When the first wave of outsourcing occurred in 2000 after Y2K — a computer program bug that was expected to cause havoc as the year changed from 1999 to 2000 — the Indian IT sector grew faster than 40% from a small base and minimal global penetration to Indian IT companies becoming market leaders, according to Goldman Sachs. And, again, after the 2008 GFC when the Indian IT industry grew at more than 15% for three to four years before growth returned to high single digits. “This happened both due to a shift to cloud based infrastructure and the higher use of automation tools, forcing Indian IT firms to look for new ways to sell IT solutions, shifting from labor cost arbitrage to business transformation through digital technologies,” explained the report. This is compounded by the fact that India is currently home to the largest pool of digital skilled employees in the world. <div type="image" title="snapshot-1598933384850" msid="77864293" hostid="261"></div> “We believe these digitally trained employees at Indian IT firms are likely to drive overall revenue growth, which would be the key reason for their increasing relevance amid the requirement for digital-at-scale solutions,” said Goldman Sachs. <div type="image" title="pjote chart" msid="77864307" hostid="261"></div> However, not everything is as rosy as it appears Even though businesses are looking to become more digital, recurring revenues for IT companies have been falling as compared to those vendors which specifically provide software as a service (SaaS) and infrastructure as a service (IaaS). In order to address this risk, Goldman Sachs argues that Indian IT services companies will focus more on signing large contracts that look after a client’s entire IT function. These companies also have the option to sell their solutions on a vertical-specialised platform — one that focuses on a specific industry — to increase stickiness of revenue. “Both of the above approaches require more fixed-price and outcome-based contracts with higher risk-reward,” said the global investment firm. Examples of this strategy being applied already exist with Infosys’ deal with Verizon in late 2018 and TCS’ deal with Walgreens Boots Alliance (WBA) for $1.5 billion in February earlier this year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/markets/news/dollar-index-is-at-a-two-year-low-and-heres-how-much-it-may-hurt-tcs-infosys-hcl-tech-and-others-if-it-stays-weak/articleshow/77843868.cms">Dollar Index is at a two-year low⁠ and here’s how much it may hurt TCS, Infosys, HCL Tech and others if it stays weak</a> <a href="https://www.businessinsider.in/stock-market/markets/news/there-arent-enough-shares-of-hdfc-bank-indusind-bank-and-kotak-bank-that-foreign-investors-can-buy/articleshow/77798108.cms">There aren’t enough shares of HDFC Bank, IndusInd Bank and Kotak Bank that foreign investors can buy</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-adds-36-75-lakh-while-airtel-lost-47-72-lakh-subscribers-in-may/articleshow/77760669.cms">It's the day Airtel and Vodafone Idea have been waiting for – here’s the AGR case timeline of 26 years</a>

TCS, Infosys and HCL Tech have the most to gain from post COVID wave of outsourcing

<ul><li>While the demand for IT services companies remains robust with the evolving digital environment, high attrition rates remain a top concern for IT firms.</li><li><keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> will together hire 1.53 lakh employees in FY22 to hedge against employees leaving.</li><li>Wipro’s attrition rate remains highest at 20.5% followed by Infosys at 20.1% and TCS at 11.9%.</li></ul>While the demand for information technology (IT) services companies remains robust with the evolving digital environment, a huge number of employees leaving these organisations remain a top concern for IT firms. Attrition rate of IT companies has been rising consistently and in-line with growing demand for digital talent. With the earnings results available so far for the September quarter, Wipro has the highest attrition rate, among IT firms, at 20.5% followed by Infosys at 20.1% and <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS) at 11.9%. <div type="image" title="attrition chart" height="900" width="1200" msid="87013677" hostid="261"></div> However, a report by human resource solutions firm TeamLease shows that the average attrition rate in the IT industry was at 8.67% in September quarter, far less than what the big IT firms have reported. One of the key concerns of IT employees for leaving an organisation is muted growth in increments followed by poor employee benefits, rewards, digital skilling and so on, shows a ‘compensation benchmarking survey’ by Deloitte India and software firms’ lobby NASSCOM. The average increments for the technology services sector in India dropped from 9.5% in 2019 to 5.2% in 2020, which later increased to 8.8% in 2021 due to higher attrition rate. Average increments are expected to go up to 9% to 11% in 2022, said the report. <div type="image" title="compensation" height="900" width="1200" msid="87013730" hostid="261"></div> IT companies are all set to hire in bulk from campuses as they struggle to retain employees with the increasing demand for digital talent. TCS, which has already hired 43,000 freshers in the first half of FY22, expects to hire another 35,000 in the next six months. This takes up the total count of FY22 to 78,000 new employees. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IT companies </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY22 hiring </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">45,000 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">30,000 </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">78,000 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> “We believe this attrition level will continue for the next 2-3 quarters. Having said that, our strong employer brand and our robust talent acquisition and talent development models will help us significantly overcome the supply side issues…We will continue to hire more and more and keep the supply ready since our model is robust. The attrition level is definitely concerning, but we can manage through that,” said Milind Lakkad, global head of human resources at TCS, in a press conference post earnings. High attrition rate in some of the largest IT companies in the country is expected to continue for the coming quarters and so is the huge hiring process. “In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring program to close to 45,000 for the year. Simultaneously, we continue to strengthen employee value propositions including health and wellness measures, reskilling programs, appropriate compensation interventions and enhanced career growth opportunities,” said Pravin Rao, chief operating officer at Infosys. TCS is one of the biggest employers in the country with 5.28 lakh employees as of September quarter. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total headcount </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.28 lakh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.79 lakh </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.21 lakh </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>At 11:12 a.m., on October 14, shares of Wipro were up 7%, Infosys stock was up 2% and TCS stock was down by 0.8%. ALSO WATCH: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/videos/talent-from-large-it-firms-has-been-flowing-towards-indias-tech-startups/videoshow/87014361.cms">Talent from large IT firms has been flowing towards India's tech startups</a> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/three-unicorns-hundreds-of-crore-in-loss-and-very-little-market-share-whats-the-hype-around-online-car-retailers/articleshow/87012417.cms">Three unicorns, hundreds of crore in loss and very little market share — What's the hype around online car retailers?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/infosys-wipro-vodafone-idea-and-other-hot-stocks-in-focus-on-october-14-as-results-season-heats-up/slidelist/87010496.cms">Infosys, Wipro, Vodafone Idea and other hot stocks in focus on October 14 as results season heats up</a>

India’s techies are leaving IT firms in hordes — Here’s why

<ul><li>The stocks of the top Indian IT services companies are the top gainers in Nifty 50 today morning after Tata Consultancy Services (TCS) announced its earnings late last evening. </li><li>The CEO of India’s largest IT services company said that TCS was in the first phase of a multi-year ‘technology transformation’ cycle. </li><li>Wipro's rally may also stem from its announcement of considering share buyback at the next board of directors meeting.</li></ul>IT stocks continue to rally for a second week after India’s top IT services company announced that there is a multi-year technology transformation cycle in the works. “What we are witnessing right now is the start of the first phase,” said TCS CEO <keyword id="1422411" type="PERSON" weightage="20" keywordseo="Rajesh-Gopinathan">Rajesh Gopinathan</keyword> during the earnings call yesterday. TCS’ own share price is up by more than 4% alongside Wipro, HCL Tech and Infosys. In fact, these four companies are currently the top gainers in the Nifty 50 today morning. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></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;">Company </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;">% change in share price </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;">4.79% </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;">4.78% </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;">4.4% </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;">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;">3.75% </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;">3.24% </td></tr></tbody></table>Source: NSE, Share prices as of 11:00am Wipro’s rally also stems from the announcement of it considering to buyback shares during the next board of directors meeting on October 13. TCS embarks on a multi-year technology transformation cycle Gopinathan explained that currently, in the first phase of the multi-year technology transformation cycle, companies are building a cloud-based foundation. This will become the ‘resilient, secure and scalable’ digital core of their business. In the following phases, the industry will witness the native capabilities of these platforms coming up in new use cases. They will be used to create “innovative new business models and differentiated customer experiences,” he said. The cycle is driven by the desire to accelerate availing the business value of investments that clients have made in technology, according to TCS COO NG Subramanam. The company’s role is to help clients open up more micro services and ecosystems to building partnerships, not just internally within the organisation, but also with other companies. Subramaniam further highlighted that the multi-year cycle involved investments in multiple areas — whether it's the way of working, secure borderless work spaces (SBWS), the 25/25 vision and other measures — all of which are coming into play one way or another. “In the last six months, the resilience of cloud collaboration and digital has been proven beyond doubt,” he said. In the second quarter, TCS raked in $8.6 billion worth of new deals — including the deal with Phoenix Systems for $2.5 billion — with its revenue jumping 4.8% over the previous quarter and revenue up by 6.7% sequentially.

TCS and Wipro lead rally in IT stocks after TCS CEO announces multi-year 'technology transformation' cycle in the works

New Delhi, Mar 12 () IT firm TCS on Thursday said it has partnered with Qatar-based Black Cat Engineering &amp; Construction (BCEC) to provide digital solutions and innovation strategy."Tata Consultancy Services...has been selected by BCEC..as the strategic partner to drive the latter's digital transformation and co-innovation strategy," TCS said in a BSE filing. As part of the tie-up, TCS is enabling BCEC to reimagine its end-to-end business processes from tendering to construction, incorporating EPC industry's best practices, to design and implement multifunctional and multiservice solution on Oracle Cloud ERP (Enterprise Resource Planning). The seamless enterprise-wide system integrates multiple disparate business functions and eliminates data duplication and redundancy. "We...will bring our technology expertise, industry experience, proprietary solutions, and innovation ecosystem to make BCEC an industry benchmark," TCS Qatar Country Head Devashis Goswami said.BCEC is Qatar's largest EPC and maintenance contractor for the upstream oil and gas industry.TCS stock was trading at Rs 1,824.80, down 6.64 per cent, on the BSE. SID SID ANUANU

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