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Software major <keyword id="6357585" type="General" weightage="50" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (<keyword id="6357150" type="General" weightage="80" keywordseo="tcs" source="Orion">TCS</keyword>) on Monday said that it has been named to the Forbes annual list of "America's Best Large Employers". This recognition is based on an independent survey of 45,000 employees working for American companies with more than 1,000 employees. "TCS has focused on creating an employee-friendly workplace that fosters innovation and empowers people to grow both personally and professionally," <keyword id="2752834" type="General" weightage="50" keywordseo="suresh-muthuswami" source="Orion">Suresh Muthuswami</keyword>, Chairman, <keyword id="1297085" type="General" weightage="50" keywordseo="tcs-north-america" source="Orion">TCS North America</keyword>, said in a statement. "We will continue to invest in our people and culture to ensure TCS remains one of the best employers in the US and around the world," he added. Moreover, the company said that TCS is one of the largest recruiters in the US in the IT services industry, and has hired more than 21,000 people over the last three years. Its diverse and engaged workforce of more than 45,000 people across the US, collaborates with global teams to help customers innovate, transform, and grow. The company further mentioned that TCS has become a top employer and set the industry standard for talent retention by consistently investing in building talent across the company through professional development initiatives and digital skills programmes. TCS is consistently recognised by the foremost authorities of corporate reputation in the US. In 2023, Fortune Magazine recognised TCS as one of the world's most admired companies. CareerBliss named TCS one of the 50 Happiest Companies of 2023. In addition to being lauded by the <keyword id="2878587" type="General" weightage="50" keywordseo="top-employers-institute" source="Orion">Top Employers Institute</keyword> for building a diverse workforce and nurturing the next generation of technology talent, Forbes ranked TCS among the Best Employers in New York for 2022. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/hsbc-acquires-uk-arm-of-silicon-valley-bank-for-1/articleshow/98601528.cms">HSBC acquires UK arm of Silicon Valley Bank for £1</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/yes-bank-shares-tank-over-12-as-3-year-shareholder-lock-in-period-ends/articleshow/98601576.cms">Yes Bank shares tank over 12% as 3-year shareholder lock-in period ends</a>

TCS makes it to Forbes' list of 'America's Best Large Employers'

<ul><li>Shares of the entire IT pack companies have been beaten down significantly in 2023 due to macro headwinds.</li><li>The March quarter results of TCS, Infosys and HCL Technologies so far have also underlined the ongoing slowdown.</li><li>The IT companies in India faced the heat after the banking crisis in the US and Europe erupted.</li><li> Considering the macro economic challenges like high inflation, interest rates and banking crisis in regions, analysts expect the <keyword id="46964" type="General" weightage="20" keywordseo="it-sector" source="Orion">IT sector</keyword> to remain watchful for at least the next few quarters.</li></ul>India’s information technology services companies have been struggling amid heightened fears of recession across developed markets and the repercussions of a banking crisis in the US and Europe. And the situation is unlikely to improve until the end of the year, analysts say. Amid the ongoing weakness in the sector, foreign portfolio investors (FPIs) have also sold their stakes in IT companies. FPIs turned bearish on the IT and oil and gas sector in March – between these two sectors, they <a href="https://www.businessinsider.in/stock-market/news/fpis-offload-it-oil-gas-stocks-worth-13734-crore-in-march/articleshow/99375107.cms">sold equities worth ₹13,734 crore. </a> Analysts expect pain to continue till end of 2023 Considering the macro economic challenges like high inflation, interest rates and banking crisis in the US and European regions, analysts expect it will be a watchful few quarters for the IT sector. "The biggest issue in the IT sector is growth slowdown and possibility of recession. So, as long as the slowdown persists and global growth remains uncertain, the market will expect lesser order flow, slower execution and pricing challenges. All these three factors will lead to IT companies suffering and valuations may also not expand. Investors will have to remain watchful for one to two quarters till there is some clarity on the global growth scenario," Deepak Jasani, head of retail research at HDFC Securities told Business Insider India. The IT majors’ recently-posted fourth-quarter results and FY24 growth predictions tell their own story about the sector’s ongoing struggles. For FY23, IT major Infosys reported a growth of 15.4% in constant currency terms, lower than the guidance of 16-16.5% that it had given <a href="https://www.businessinsider.in/business/corporates/news/infosys-results-q3-fy23-infosys-raises-revenue-guidance-for-fy23-to-16-16-5/articleshow/96941824.cms">at the end of Q3</a>. Besides, it guided for a 4-7% revenue growth in FY24. This is the first time since FY16 that Infosys has guided for single-digit revenue growth in constant currency terms. Bigger rival Tata Consultancy Services (TCS) reported a 11-quarter low constant currency revenue growth at $7.2 billion in Q4. TCS’ outgoing chief executive officer Rajesh Gopinathan said in a post-earnings conference that the company is seeing stress in one of its largest markets, North America. The recovery that the company had expected had not yet materialised. According to Sanjeev Hota, vice president, head of research at Sharekhan BNP Paribas, told Business Insider India, the macro uncertainty faced by the sector is unlikely to get better before 2-3 quarters. “(For) the entire calendar year, things look dicey and the industry may witness some kind of stability by the fag end of this year. US, North America, which are among the biggest markets for the sector, are not expected to improve in the near term." Banking crisis could impact June-quarter earnings The global growth slowdown has worked its way into the stock market performance of these companies with shares of the entire IT pack being beaten down significantly in 2023. The Nifty IT index is down 30% so far this year compared to a 3% fall in the broader Nifty50 index. The IT companies in India faced the heat after the banking crisis in the US and Europe erupted in March, triggered by the collapse of Silicon Valley Bank and Signature Bank in the US and the turmoil at Swiss lender Credit Suisse. IT majors like TCS, Infosys and Wipro have also neared their 52-week low since March considering IT companies’ exposure to US banks amid the banking sector crisis. BFSI clients are among the Indian IT companies’ largest clients. "Most of the price damage in the IT stocks has already been done. However, outperformance of the sector from the current level seems restricted till global macro headwinds stabilises. The sector valuation multiple is driven by earnings growth and if growth tapers off, there are little chances of the (IT) stocks outperforming the broader market indices,” added Hota. He, however, recommends staggered buying in TCS among the large caps and Persistent Systems from the mid-cap stocks, for long-term investors. The lower-than-expected growth in March quarter for sector leaders Tata Consultancy Services (TCS), Infosys and HCL Technologies have underlined the ongoing slowdown. And analysts see this spilling over to the next quarter as well. “The banking crisis in US regional banks and European banks in March 2023 has induced greater caution and could impact the June 2023 quarter. We would not be surprised by a weak US performance across companies that are likely to report in the coming days,” said a report by Kotak Institutional Equities. Analysts at JP Morgan have also highlighted the weakness in banking, financial services and insurance (BFSI) and telecom verticals, which would impact Tech Mahindra and Mphasis as they have high exposure to these verticals. Stock movement of IT companies in 2023 so far <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;">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;">Stock performance in 2023 </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;">-19.55% </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;">-10.99% </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;">-9.05% </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;">-6.61% </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;">LTIMindtree </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;">-3.57% </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;">-3.50% </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;">Coforge </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;">-2.56% </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;">-0.92% </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;">0.87% </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;">Persistent Systems </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;">7.32% </td></tr></tbody></table>Source: NSE SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/insider-reviews/first-day-first-show-business-insider-sent-its-mystery-shopper-to-apples-flagship-store-in-mumbai-and-was-surprised/articleshow/99682868.cms">First day, first show: Business Insider sent its mystery shopper to Apple’s flagship store in Mumbai and was surprised</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-net-profit-grows-1-7-sequentially-at-4716-crore-in-q4-fy23/articleshow/99674353.cms">Reliance Jio Q4 net profit grows 1.7% sequentially to ₹4,716 crore; ARPU up marginally</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a>

India’s IT sector likely to face macro headwinds until end 2023, say analysts

<ul><li>Shares of <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> plunged as much as 9% today on lower than expected March quarter earnings.</li><li>Analysts have cut down company estimates as the profit margin of the company remains under pressure due to cost pressures led by higher employee costs and a rise in travel costs.</li><li>As a result, shares of other information technology firms also fell today in an already weak market.</li></ul>IT giant Infosys disappointed investors as the stock of the company plunged nearly 9% on poor Jan-Mar quarter earnings. Stable deal wins and lower than the expected profit margin of the company due to cost pressures led by higher employee costs and rise in travel costs among concerns that impacted Infosys stock. Infosys ADR stock, which trades on the US stock market, slipped 14% in previous 5 sessions because of weak earnings at a time when Indian markets were closed due to holidays. “Infosys' 4Q (March quarter) results missed estimates mainly due to muted growth of 1.2% on quarter constant currency. However, its 13-15% revenue growth guidance for FY23 and all-time high net additions reflect a strong demand outlook,” said analysts at Jefferies. After considering the seasonal weakness in the Jan-Mar quarter, Infosys result was still disappointing. “Infosys' growth in 4Q disappointed even considering the seasonal weakness. Muted growth in its top-2 verticals (BFSI and Retail) and top markets (North America and Europe) and a sharp decline in Life Sciences vertical possibly due to one-off contractual issues resulted in the subdued growth performance,” said a report by Jefferies. <div type="image" title="infosys 2" height="900" width="1200" msid="90906620" hostid="261"></div> Besides, Infosys’ attrition worsened more in the March quarter reaching at 27.7% from 25.5% in the previous quarter. The IT major’s attrition rate is worse in the industry compared to other Indian peers, even more than <keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>’ attrition rate of 17.4% in the same quarter. Moreover, it expects the attrition rate to decline gradually as it also kicks off hikes from April 1. The market capitalisation of the top company fell to ₹6.8 lakh crore from ₹7 lakh crore last week. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> Moreover, analysts expect the share price of the company to rise more as the demand outlook for the future remains strong. As of 11:27 p.m. shares of the company stand at ₹1,621 per share, down by 7.29%. <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;">Brokerage house </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;">Target 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;">JM Financial </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;">₹1,970 </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;">CLSA </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;">₹2,040 </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;">Jefferies </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;">₹2,135 </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;">Credit Suisse </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;">₹2,050 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></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/india/news/extreme-poverty-in-india-declined-12-in-the-last-decade-says-world-bank/articleshow/90905593.cms">Extreme Poverty in India declined 12% in the last decade, says World Bank</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/exim-bank-recruitment-2022-checkout-vacancies-eligibility-criteria-and-other-details/articleshow/90904895.cms">Exim Bank recruitment 2022: Checkout vacancies, eligibility criteria and other details</a>

Infosys slides 9% on poor March quarter earnings, other IT stocks follow suit

<ul><li>Analysts expect the growth momentum in the IT services sector to continue on account of large deal wins and demand for digital transformation. </li><li>Infosys, TCS, Tech Mahindra and HCL Tech are expected to report a revenue growth anywhere between 3.5% to 5.5% for the period of April-June 2021.</li><li>However, Wipro’s topline is likely to stand out among the top-tier software exporters from India, thanks to the Capco acquisition</li></ul>India’s top software exporters like TCS, Infosys and HCL Technologies are likely to see their dream run continue in the first quarter of the financial year 2022. However, Wipro, one of the top five players in the sector may have had it better than the rest. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Growth estimate* </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Share price change since Feb end 2021 to June 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.3% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">26% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9.5% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">33% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.60% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3.50% </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr></tbody></table>*Source: Axis securities A big reason for Wipro’s outperformance may be the $1.45 billion acquisition of Capco, the largest ever buyout by the Bengaluru-based company. The shares of Wipro have led the IT pack ever since the new chief executive officer (CEO) Thierry Delaporte took charge in June last year. The company made about $2 billion last year from IT services and if Capco delivers the same amount of revenue as it did last year, it could add another $700 million to Wipro’s topline. That’s a 35% bump up a year straight away. Expectations are built up in the stock that has gained about 30% since the Capco deal was announced in early March, and closed in April. <div type="image" title="Wirpo stock price chart" height="900" width="1200" msid="84201479" hostid="261"></div> There is also a lot of apprehension. “The execution risk is further aggravated by a weak growth performance from Capco over the last two years – even after adjusting for the drag due to COVID-19,” said Motilal Oswal in its report dated March 4. “We’re guiding revenue growth of 2% to 4% in the first quarter, outside of Capco and Ampion,” Delaporte had said during the earnings call in April. Wipro has acquired Ampion, an Australia-based provider of cyber security, devops and quality engineering services. The move will strengthen its commitment towards clients and stakeholders in Australia and New Zealand (ANZ). The acquisition will close in the quarter ending June 30, 2021. It’s boom time for all tech companies For the rest of the top five IT services majors, the growth is likely to continue on the same trend seen since the pandemic broke out. “IT spending from North America and Europe has gained momentum and demand for digital transformation has increased exponentially,” Axis Securities said in a report dated July 6. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">New deals from April to June 2021 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Proximus, Ericsson, Virgin Atlantic, Alcatel-Lucent, Commercial Bank of Kuwait </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ArcelorMittal Europe, Britvic, Archrock </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HCLT </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">UD Trucks Corporation, Hitachi ABB Power Grids, McLaren Health Care </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Bristol Water, Transcell Oncologics, Levi Strauss &amp; Co </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Pret A Manger </td></tr></tbody></table> However, wage hike and rising attrition since the start of the year may dent operating margins of IT companies. Several IT companies have given second salary hikes to eligible employees in a calendar year 2020 as initially promotions had been deferred on account of the pandemic and business downturn. In the last one year, Nifty IT (the index of tech stocks) showed gains of 81% as compared to the benchmark Nifty50’s 46%. These are the estimates for topline growth for the sector. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Broking firm </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Apr-June average growth estimate for tier-I IT companies </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Prabhudas Lilladher </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.10% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Institutional Research </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Maybank Kim Eng </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.30% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">BOB Capital Markets </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">4.20% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Axis Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">3%-7% </td></tr></tbody></table>Growth estimates are in comparison to the earnings for the quarter ended June 2020. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/clean-science-and-technology-ipo-maximum-broking-house-recommending-this-ipo/articleshow/84193873.cms">Clean Science and Technology, an Indian supplier to Bayer, has opened its IPO ⁠— and ‘subscribe’ is the unanimous call from analysts | Business Insider India</a> <a href="https://www.businessinsider.in/stock-market/news/gr-infraprojects-ipo-good-ipo-bet-for-long-term-as-per-analysts/articleshow/84193656.cms">GR Infraprojects IPO is for long term investors, say analysts | Business Insider India</a>

TCS, Infosys and HCL Tech will show a good quarter but Wipro’s earnings will outshine them all ⁠— here’s why

Phew, what a year it is! Mass sacking, Rs 2,268 crore bonuses and now been ranked 57th leading brand in the US by Brand Finance in its second annual Top 500 US Brands survey. <keyword id="6357585" type="CITY" weightage="20" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword>, it is. 
 
And, this being the first time it has featured among the top 100 brands in the US, according to a company statement, adds more to its raised glass of toast. 
 “Developing a valuable brand goes far beyond awareness, it’s about the deep opportunities and services we provide to our employees, clients and the communities in which we work and live,” said Surya Kant, president of <keyword id="6378080" type="COUNTRY" weightage="20" keywordseo="North-America">North America</keyword>, UK and Europe, <keyword id="6357150" type="CITY" weightage="20" keywordseo="TCS">TCS</keyword>, according to a report of The Economic Times. 
 In a report in the Economic Times, Edgar Baum, managing director, Brand Finance, North America, said that TCS has established itself as one of the fastest growing brands in the <keyword id="6356955" type="COUNTRY" weightage="20" keywordseo="united-states">United States</keyword>. 
 
“TCS is one of the rare businesses that has sustained the industry AA+, the sector’s second highest rating, for three years in a row,” he said. 
Going forward with a goal to push the employees and the clients to re-imagine their business operations in today’s digital economy, TCS' brand value grew 271 per cent in five years globally, from USD 2.3 billion in 2010 to USD 8.7 billion in 2015, marking the fastest growth across the IT Services industry during the period. 
 
TCS has a long-standing presence in North America, being one of the top ten recruiters of IT talent, with 19 facilities and innovation labs serving many of the region's Fortune 500 companies.

Cheers to TCS! The only Indian brand to appear on the US’ top 100 brand rankings

<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>The 30-share BSE index was trading 0.56% higher; while the NSE Nifty jumped 62.90 points at 9:50 am. </li><li>These were the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market index Sensex jumped over 200 points in early trade on Tuesday driven by gains in index-heavyweights TCS, Infosys and HDFC amid positive cues from global markets. They have now pared their morning gains, led by fall in the banking stocks. The 30-share BSE index was trading 0.56% higher; while the NSE Nifty jumped 62.90 points at 9:50 am. These were the top losers and gainers in the Nifty pack: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td></tr></tbody></table>*as of September 29, 10:00 am These are the top stocks in news today. Shalby gains 4% The shares of Shalby Limited were trading 4% higher after the board approved the decision to reduce promoters’ shareholding in the company to 75% from the current level of 79.45%. The company will issue equity shares and convertible securities up to ₹ 117.02 crore, it said. Maruti Suzuki India up over 1% The automaker Maruti Suzuki India was trading 1% higher after Morgan Stanley, and HSBC upgraded their ratings to ‘Buy’. The Morgan Stanley revised target price is now at ₹7,570 a share. Anuh Pharma surges 5% The shares of Pharma major Anuh Pharma were up 5% on September 29 after it received approval from the World Health Organization— Geneva Prequalification for Pyrimethamine API, which is used as antimalarial drugs. Tata Consultancy Services up 4% Tata Consultancy Services (TCS) shares were trading 4% higher after the IT major told investors that it won four Stevies at the 2020 International Business Awards. TCS was recognized with two Gold Stevies, one Silver Stevie and one Bronze Stevie for achievements in North America and India, the company said. Hero MotoCorp gains 2% Extending gains for the second day, Hero MotoCorp shares were trading 2% higher after <a href="https://www.newindianexpress.com/business/2020/sep/26/hero-motocorp-harley-engaged-in-advancednegotiations-2202082.html">news reports</a> surfaced that the US-bike maker Harley Davidson is in talks with the Indian two-wheeler major to enter into a distribution arrangement. Infosys surges 2% The shares of IT major Infosys surged over 2% after its wholly-owned subsidiary EdgeVerve Systems recently signed a partnership with Minit, a leader in process mining, to help clients accelerate process excellence. The company said it would jointly create a solution that will empower enterprises with superior insights for business transformation, leading to better operational efficiency and enhanced business results. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/uti-amcs-2160-crore-ipo-opens-today-heres-all-you-need-to-know/articleshow/78376756.cms" data-type="tilCustomLink">UTI AMC’s ₹2,160 crore IPO opens today — Here’s all you need to know</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-infosys-central-bank-of-india-dhfl-anuh-pharma-shalby-balaji-telefilms-and-others/articleshow/78376167.cms" data-type="tilCustomLink">Top stocks to watch— Infosys, Central Bank of India, DHFL, Anuh Pharma, Shalby, Balaji Telefilms and others</a>

Top stock movers — TCS, Wipro, Infosys, Maruti Suzuki, Hero Motocorp, Anuh Pharma and more

<ul><li>The National Association of Software and Service Companies (<keyword id="6372077" type="ORGANIZATION" weightage="20" keywordseo="nasscom">NASSCOM</keyword>) is urging the US administration to shorten the duration of <keyword id="6358066" type="UNKNOWN" weightage="20" keywordseo="h-1b-visa">H-1B visa</keyword> suspension to 90 days.</li><li>It believes that US President <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword>’s extension of the H-1B visa freeze is “misguided and harmful” for the US economy keeping companies from accessing the talent they need from overseas.</li><li>However, India IT giant <keyword id="43217" type="CITY" weightage="20" keywordseo="Tech-Mahindra">Tech Mahindra</keyword> doesn’t believe that Trump’s visa freeze will have much of an impact on the company in the near or medium term. </li></ul>The nodal Indian tech lobby, the National Association of Software and Service Companies (NASSCOM), has urged the US government to shorten the duration of the H-1B visa suspension to 90 days and to rethink US President Donald Trump’s stated plans to change laws to restrict immigration and increase the cost of the visa. NASSCOM — which represents Indian IT services giants like Tata Consultancy Services (TCS), Infosys, and HCL Tech — believes that Trump’s extension of the H-1B visa freeze will be “misguided and harmful” keeping companies from accessing the talent they need from overseas. The Trump administration ruled that H-1Bs or L-1s, as well as other visa types, will not be allowed to enter the United States after June 23, with very few exceptions, <a href="https://www.businessinsider.in/politics/world/news/trump-signs-a-proclamation-halting-h1b-work-visas-and-other-temporary-visas/articleshow/76520775.cms">until the end of the year</a>. “Lengthening these burdensome restrictions on U.S. companies that are trying to recover from the economic fallout of the COVID-19 pandemic will only serve to harm our economy,” it said in a statement. “Study after study from the Federal Reserve, National Academy of Sciences, General Accounting Office, National Foundation for American Progress, Pew Research Center, CATO, Brookings Foundation, PPI, top academics, business groups and others all reveal the immeasurable value nonimmigrants have and will bring to America,” the NASSCOM statement added. <div type="Article" hostid="261" msid="76522530" title="Google’s Sundar Pichai, Facebook and Amazon — here’s how American companies reacted to Donald Trump’s H1-B visa freeze" mstype="2" mssubtype="0"></div> Indian IT firms, like Tech Mahindra, Tata Consultancy Services (TCS), Infosys and others have been increasing their local workforce in the US over the last few years as denial rate of initial employment has been in an upwards trajectory. <div type="image" title="h1b (4)" msid="76524580" hostid="261" caption="&amp;lt;p&amp;gt;Denial of initial employment&amp;lt;/p&amp;gt;"></div> And therefore, the Indian IT majors have increased local hiring in US in recent years.“From a near or medium-term perspective, we don’t see much of an impact because of the current situation and travel restrictions,” Tech Mahindra CFO, Manoj Bhat told Business Insider in a statement. "Since April of 2017, we have hired about 9,100 people as of March 2019. This has actually helped us in strengthening our business model and becoming less dependent on visas for talent or ability," said Infosys COO UB Pravin Rao during the company’s annual general meeting (AGM) last year. Wipro, in its annual report, pointed out that its local employee base in the US has hit nearly 70% in 2020. The North American country is its largest market contributing nearly 59.1% to the company’s total revenue. TCS, on the other hand, hasn’t disclosed how many employees it has hired in the US but experts estimate that it’s close to 40,000 of its total headcount of 448,464 people. “The numbers are substantial and it has gone up year-on-year…In last few years, TCS has created more than 20,000 jobs in the US," Milind Lakkad, global head of HR at TCS told <a href="https://www.livemint.com/companies/news/tcs-continues-localisation-in-us-to-hire-1-500-employees-by-this-fiscal-11576119389690.html">LiveMint</a> in December 2019. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/googles-sundar-pichai-facebook-and-amazon-heres-how-american-companies-reacted-to-donald-trumps-h1-b-visa-freeze/articleshow/76522530.cms">Google’s Sundar Pichai, Facebook and Amazon — here’s how American companies reacted to Donald Trump’s H1-B visa freeze</a> <a href="https://www.businessinsider.in/politics/world/news/trump-signs-a-proclamation-halting-h1b-work-visas-and-other-temporary-visas/articleshow/76520775.cms">Trump signs a proclamation halting H-1B work visas and other temporary visas</a>

Donald Trump's H-1B visa ban incites a sharp reaction from India's tech lobby

India's largest software services company <keyword id="6357585" type="CITY" weightage="100" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (<keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword>) has 91 employees in India who got paid more than Rs 1 crore in form of salaries in fiscal 2017, a number significantly higher than rivals <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> and <keyword id="10862" type="CITY" weightage="100" keywordseo="Wipro">Wipro</keyword>. Out of these, 22 employees have spent their entire careers at the TCS. In comparison, Infosys has 51 executives who take home more than Rs 1 crore per annum, out of which about 16% started their careers with the Bengaluru-headquartered company. Wipro, on the other hand, has 61 such employees, out of which about 27% have been with it throughout their careers. "TCS is much bigger than Infosys or Wipro, and executive stability has been a defining factor for the company," an analyst with a Mumbai-brokerage told <a href="http://economictimes.indiatimes.com/tech/ites/tcs-way-ahead-of-of-the-field-in-race-of-crorepati-executives/articleshow/59673309.cms">ET</a>, requesting anonymity. "They also tend to promote from within. It is rare for an executive to come in from outside," he added. TCS employees who are stationed outside India could be earning significantly more because of being compensated in foreign currencies. These include Surya Kant, who runs TCS' North America, UK and Europe operations and <keyword id="4787917" type="UNKNOWN" weightage="100" keywordseo="amur-lakshminarayanan">Amur Lakshminarayanan</keyword>, who oversees its Japan business.

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TCS makes it to Forbes' list of 'America's Best Large Employers'

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India’s IT sector likely to face macro headwinds until end 2023, say analysts

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Infosys slides 9% on poor March quarter earnings, other IT stocks follow suit

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TCS, Infosys and HCL Tech will show a good quarter but Wipro’s earnings will outshine them all ⁠— here’s why

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Cheers to TCS! The only Indian brand to appear on the US’ top 100 brand rankings

BI India Bureau

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

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Top stock movers — TCS, Wipro, Infosys, Maruti Suzuki, Hero Motocorp, Anuh Pharma and more

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Donald Trump's H-1B visa ban incites a sharp reaction from India's tech lobby

Prabhjote Gill

TCS has way more number of crorepati executives than its rivals

BI India Bureau

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