Tata Consultancy Services, Ltd. ADRGrey Market
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  • Oct. 13, 2015, 10:49 AM
    • Tata Consultancy (TCS.BO): Q2 EPS of $0.47 vs. $0.45 in 2Q14
    • Revenue of $4.16B (+5.9% Y/Y)
    • Volume growth during the quarter was 4.9%.
    • Gross employee addition over 25K; Total headcount 335K; Employee attrition rate (last twelve months) was 16.2% including business process.
    • $100M+ Customers up by 3; $10M+ customers up by 6.
    • "We have delivered accelerated growth in constant currency terms for Q2. Driven by great execution on the ground, broadbased performance has been led by strong sequential growth in BFS, retail and life sciences verticals with UK & North America leading markets," said Natarajan Chandrasekaran, CEO and MD.
    • PR (.pdf)
    | Oct. 13, 2015, 10:49 AM
  • Jun. 12, 2015, 1:46 PM
    • The Department of Labor is probing Infosys (INFY -0.8%) and fellow Indian IT outsourcing giant TCS (OTC:TTNQY) for potential visa rule violations involving workers handling contracts for California utility SCE.
    • The probe comes after SCE laid off over 500 workers, many of whom say they were made to train Infosys/TCS workers on H-1B visas.
    • In 2013, Infosys paid a $34M fine to settle a probe into paperwork errors and other visa-related issues.
    | Jun. 12, 2015, 1:46 PM
  • Jun. 21, 2013, 1:56 AM
    Indian markets have pulled themselves back into positive territory on Friday, led by companies expected to benefit from the weaker rupee - in particular, software exporters and outsourcers, such as Tata Consultancy (TCS.BO +1%) and Infosys (INFY +1.4%).
    | Jun. 21, 2013, 1:56 AM
  • May 29, 2013, 10:17 PM

    Tata Consultancy Services (TCS.BO) has scored a lucrative contract to modernize India's postal service. The six-year contract with the Department of Posts is valued at 1,100 crore ($196M). The goal of the India Post project is to transform the country's postal service into a "world class" system utilizing cutting-edge technologies. The contract may also be a bit of a domestic PR coup for Tata, best known as an outsourcer and India's largest exporter of software.

    | May 29, 2013, 10:17 PM
  • May 28, 2013, 5:55 AM

    Indian technology outsourcers such as Tata (TCS.BO) and Wipro (WIT) are widening their revenue streams by providing mortgage and foreclosure services to U.S. banks. The work will bring in an estimated $316M in revenue, double the amount in 2009. The outsourcers will vet applicants for mortgages and make sure that banks have all the documents needed to start foreclosure, although critics are wary about the lack of oversight of these third-party vendors.

    | May 28, 2013, 5:55 AM
  • Jan. 17, 2013, 5:21 AM

    Nokia (NOK) intends to reduce its IT headcount by more than 1,000 as it outsources its tech needs to Indian suppliers, with 820 workers set to move to HCL Technologies and Tata Consultancy Services. Over 300 jobs will be cut. The move is part of Nokia's restructuring in which it is slashing 10,000 positions. Shares +1.75% premarket. (PR)

    | Jan. 17, 2013, 5:21 AM | 7 Comments