After acquiring a small French company last week, Tata Consultancy Services (TCS) says it is looking to make further acquisitions in Germany and Japan.
The plans were mentioned during a press conference after the Indian IT bellwether published its full-year earnings report, meeting expectations and confirming that the highly disappointing results posted by Infosys last week were not indicative of the state of India’s broader IT services sector. Read more >>
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When anyone speaks about investment into Africa, China comes to mind. It’s the familiar and contentious story of a developing power drawn to a resource-rich continent.
But now another growing economy, India, is eyeing Africa – and India’s most prominent industrial house, Tata group, is leading the pack. Read more >>
Despite the threat of fierce protectionism, challenging cultural barriers and major linguistic hurdles, the giants of Indian IT are looking to break into China’s previously closed software and outsourcing industry. Read more >>
Investors can be a fickle lot when it comes to Indian IT.
After results earlier in the week from Infosys and Tata Consultancy Services far exceeded expectations, Wipro’s strong profits growth wasn’t enough to stop the shares taking a beating. HCL though, had an easier ride. Read more >>
Tata Consultancy Services (TCS), India’s leading IT services group, reported unexpectedly good profits for the quarter ended in December, confirming hopes that the good news from rival Infosys, which kicked off the earnings season on Friday, wasn’t just a one-off surprise. Even after rising 3.8 per cent on Friday on Infosys’s announcement, TCS was up a further 2.1 per cent on Monday. Read more >>
In a widely expected move, Cognizant Technology Solutions – which is based in the US but operates mostly out of India – overtook Infosys as the IT industry’s second-biggest company by revenues, according to results for the quarter ended in June.
Analysts said such expectation-beating numbers have come to be, well, expected from Cognizant – to such an extent that when it merely meets expectations its stock falters – so there were few surprises contained in the results. Read more >>
India’s top IT company, Tata Consultancy Services, continued its dominance with expectation-beating quarterly results announced Thursday.
The company reported a 38 per cent rise in net profit for the quarter ending in June, to Rs32.81bn ($586.6m), on revenues of Rs148.69bn ($2.66bn), propelled by a weaker rupee, cost-conscious western companies’ increased need for outsourcing, and its broad portfolio of services. Read more >>
Infosys’ caution seems to have gotten the better of them again. Shares in the Indian company plunged as much as 9.4 per cent Thursday morning after the company released its results for the quarter that ended in June.
It was a familiar storyline for India’s second-largest IT company: it released results that met market expectations, but downgraded its dollar-revenue forecast for the fiscal year that ends in March 2013, and markets didn’t like it. Read more >>
Indian IT companies are conquering the world, from Latin America to Old Europe. But there’s one place they have yet to make a dent: China.
Speaking to the FT after his company delivered a strong set of Q4 numbers and a bullish outlook, N Chandrasekaran, chief executive of Tata Consultancy Services, said China -whose IT market is estimated to be worth Rmb 1,840bn ($291.7bn) last year - remains a tough nut to crack. Read more >>
Last week, India’s number two software maker, Infosys, beat market expectations with its quarterly results only to find its stock tumble on weaker-than-expected growth forecasts for the coming fiscal year. The same thing had happened the previous quarter.
But the company that took Infosys’ crown atop the heap, Tata Consultancy Services, has never fallen into such traps – because it doesn’t provide official guidance. Read more >>