IN BRIEF: TCS eyeing US$1bn in LatAm revenues by 2016|
Source: Onesource - BNamericas (English) / 4 September, 2014
Indian IT services firm TCS expects to reach almost US$1bn in sales in Latin America by 2016. Latin America accounted for 2.2%, or around US$81mn, of the company's global revenues in fiscal Q1, ended June 30.
TCS has over 13,000 employees in Latin America and expects to have 22,000 by 2016, according to a company statement.
TCS has been operating in Latin America for 12 years and has a presence in Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Peru and Uruguay.
Internet cafes to transform into service kiosks (A study was conducted by Tata Consultancy services)|
Source: The Times of India / 5 September 2014
CHENNAI: They were once found in every nook and corner of the city but today internet cafes, much like video rental shops, are fast disappearing. Some have simply shut shop, others turned into different ventures and those that are still in business attract few visitors. But owners of internet cafes may soon augment their income as service centres that process applications for passports, voter IDs and PAN cards.
The decision to permit cyber cafes to act as common service providers could keep the small centres viable at a time when access to the internet is just a smartphone away. A drastic drop in business for cyber cafes is illustrated by the fact that only 5% of all internet users in the country accessed the web from them in 2013 as against 46% in 2009. During the same period, internet users from home rose from 58% of all users to 78% and those who accessed the net via cellphones rose from 12% to 18%, according to a study by Tata Consultancy Services.
TCS to churn $2.4 bn new revenue by FY20 via Japan subsidiary: Goldman Sachs
Source: Onesource - Smart Investor/ 4 September 2014/b>
Tata Consultancy Services, India's largest IT services company, through its subsidiary TCS Japan, is well-positioned to tap the long-term opportunity in the country's $110 billion IT services market, global investment banking Goldman Sachs said.
"TCS, by gaining scale in Japan through its JV with Mitsubishi Corp, may benefit from first-mover advantage and partnership with a local firm, which we see will translate into new revenues of $2.4 billion by FY20 for the company and Rs 100 per share implied incremental valuation upside," said Goldman Sachs in a report.
Today, shares of TCS, India's largest IT services company, ended at Rs 2,584, down 0.66 percent on BSE.
The Japanese IT market is second largest in the world after the US (at $363 billion) as of 2013.
"We believe TCS JV with Mitsubishi may provide it with the requisite scale, front-end knowledge, language skills and deep client relationships as it looks to penetrate Japan," said Goldman.
In the past, Indian IT vendors in Japan have been underwhelming due to lack of relationships and front-end expertise.
Alongside, increasing cost pressures, focus on profitability, global expansion plans of Japanese firms and emergence of newer technologies like analytics, cloud services etc may drive Indian vendors penetration in Japan.
The penetration of Indian outsourcing companies is minimal in Japan at present, less than 1 percent, providing ample room for growth, the report said.
With Japanese corporates increasingly focusing on reducing IT service costs, we believe that there is an opportunity for Indian IT vendors to exploit and attempt to gain market share, the report said.
On the vertical front, banking and financial services (BFSI) and manufacturing are the most important verticals, contributing nearly half of the IT services spend in Japan. Operating margins of Japanese IT vendors typically range in the mid to high-single digits due to a higher proportion of onsite work.
Though there are several positives for Indian vendors in this market, in the past, global vendors have faced difficulties owing to language or cultural barriers, local vendors' long and deep relationships with customers, strict regulations around labor, and alternative offshoring destinations to India for Japan such as China and Vietnam.
"Strong labor unions in Japan make it difficult to layoff employees,"said the report.
1.3 Lakh Students Awarded Degrees at JNTU Convocation (Mr. N.Chandrasekaran, CEO and MD TCS is quoted.) |
Source: The New Indian Express / 5 September 2014
HYDERABAD: It was celebration time for the 1.7 lakh students of the Jawaharlal Nehru Technological University-Hyderabad (JNTU-H) and its affiliated colleges on Thursday.
Donning their convocation robes, the ecstatic students received their graduation certificates amidst thunderous applause from the audience in a packed auditorium.
As many as 98 gold medals were given away to outstanding students at the ceremony. Kuditi Harshitha Reddy, a Electronics and Communication Engineering student of JNTU-H, bagged six gold medals - the highest among all the students.
A total of 1,39,311 students received their undergraduate degrees, while 32,489 got their post graduate certificates. Besides, as many as 158 PhDs, two MPhil and four MS degrees were also awarded on the occasion.
Chief executive officer and managing director of Tata Consultancy Services (TCS) N Chandrasekaran, in his convocation address, listed out five pointers for a successful career.
TCS to double Hyderabad capacity over next three years (Mr. N Chandrasekaran, CEO and MD of TCS is quoted.)|
Source: The Economic Times / 4 September 2014
HYDERABAD: Tata Consultancy Services (TCS), India's leading software firm will double its capacity at its largest delivery centre in Adibatla, Hyderabad, said N Chandrasekaran, CEO and MD of TCS after a meeting with Telangana chief minister K Chandrasekhar Rao.
"The capacity addition of 28,000 employees will happen over a period of three to four years," said V Rajanna, vice president and regional head of TCS Hyderabad.
Tata Consultancy Services to add 28000 jobs in Telangana (Mr. N.Chandrasekharan CEO and MD TCS and Mr.Rajanna, VP TCS are mentioned.)|
Source: Onesource - Deccan Chronicle / 5 September 2014
Hyderabad: IT giant Tata Consultancy Services (TCS) is in an expansion mode in Telangana state and pla-ns to add another 28,000 jobs to the existing 26,000 soon. TCS chief executive officer N. Chandrasekharan and vice-president V. Rajanna informed the same to Chief Minister K. Chandrasekhar Rao when they called on him at the secretariat here on Thursday. The TCS brass told Mr Rao that the company had establishments across the globe and Hyderabad TCS was the world's fourth largest corporate unit. Expressing his happiness for the company's expansion plans, the Chief Minister assured all support to TCS in its future expansion plans and also promised to utilise its services in the reconstruction of Telangana.
"I am extremely happy with TCS providing a large number of jobs to the youth in Telangana. The government will extend all support to TCS in its endeavors," Mr Rao reportedly said. He also instructed Director General of Police Anurag Sharma to take steps for establishment of a full fledged police station at Adibatla where TCS corporate and other units were located and to ensure security to the thousands of people, including 8,000 women, working there. Explaining government policies and programmes, Mr Rao told the company representatives that Telangana was the right place to invest since the government would ensure a business and industry friendly environment.
TCS attains Rs 5 lakh crore market-capitalisation|
Source: Onesource - The Economic Times / 4 September 2014
MUMBAI: Tata Consultancy Services (TCS), the country's largest software services exporter, on Wednesday, attained a market valuation of over Rs 5 lakh crore after over a month.
At the end of today's trade, the market-capitalisation (m-cap) of TCSBSE 2.45 % soared to Rs 5,09,523.91 crore, the highest for the company since its listing in 2004. Shares of the outsourcing giant ended the day at Rs 2,601.30, up 2.45% on the BSE. In intra-day trade, it rose by 2.9% to Rs 2,612.95.
In dollar terms, TCS' market valuation rose to $84 billion.TCS, the first Indian company to achieve the feat, had earlier crossed Rs 5 lakh crore market-cap in July this year.
The IT bellwether is also currently the country's most valued company in terms of market valuation. TCS is followed by state-run ONGCBSE -1.48 % whose m-cap stood at Rs 3,74,730.47 crore, Reliance IndustriesBSE 0.69 % (Rs 3,33,400.02 crore), ITC (Rs 2,78,020.71 crore) and Coal India (Rs2,37,495.30 crore).
The market valuation of other big IT players such as Infosys stood at Rs 2,14,454.24 crore, Wipro (Rs 1,42,478.12 crore), HCL Technologies (Rs 1,16,142.59 crore) and Tech Mahindra (Rs 57,293.10 crore).
N Chandrasekaran gets 5-year extension as TCS CEO|
Source: Onesource - The Financial Express / 4 September 2014
India's largest software services firm, Tata Consultancy Services (TCS), has said the tenure of its CEO and MD, N Chandrasekaran, has been extended by five years to October 2019.
Chandrasekaran, who was appointed CEO and MD for five years on October 6, 2009, has been re-appointed for another five years, TCS said in a statement. His re-appointment will be effective October 6, 2014, it added.
TCS has been posting stellar quarterly growth and industry-topping performance, even though its nearest rival, Infosys, had expressed concerns about clients' technology spends.
Under Chandrasekaran's leadership, the company has seen its revenues grow to Rs 85,933 crore from Rs 29,091 crore in Q2FY10.