Tata Consultancy Services (TCS), Infosys, Wipro and Tech Mahindra were among 13 stocks from the information technology (IT) sector that hit their respective 52-week highs on Wednesday in an otherwise subdued market on expectation of improvement in outlook.

KPIT Technologies, NIIT Technologies, Persistent Systems, Tata Elxsi, Vakrangee, Mastek, Infinite Computer Solutions (India), Hinduja Global Solutions and BLS International were other IT stocks from the S&P BSE500 and S&P BSE Smallcap index that touched their respective 52-week highs in intra-day trade today.

In response to news reports that Tata Consultancy Services (TCS) will have to defend itself in the US in an anti-American bias case, the company said there are no discriminatory practices in any part of the company, and it is confident of defending its position at the trial. “In vindication of our position that TCS is an equal opportunity employer, the District Court in California has denied class certification on a litigation against the company alleging a pattern and practice of discrimination in hiring against people of non-South Asian origin.

India’s Tata Consultancy Services Ltd. will have to defend itself at a U.S. trial over claims that it’s biased against American workers. A federal judge in Oakland, California, on Wednesday rejected a request from the information technology outsourcing giant to dismiss a 2015 lawsuit accusing it of violating anti-discrimination laws by favoring South Asians. In a further setback for the company, the judge also expanded the case into a class action on behalf of American workers who lost their jobs at TCS offices in the U.S. because they hadn’t been assigned to any of its clients. A TCS representative declined to comment on the ruling.

Tata Consultancy Services (TCS) has bagged a $2.25-billion deal from television ratings company Nielsen — the largest ever outsourcing deals for the Indian IT sector.

The deal marks the renewal of TCS’ engagement with Nielsen, which was first awarded $1.2 billion, a 10-year contract to the Mumbai-based company in 2008. In 2013, the deal size was expanded to $2.5 billion.

In what is the biggest-ever outsourcing deal for an Indian IT company so far, Tata Consultancy Services (TCS) has bagged a mega $2.25-billion contract by Nielsen, a television rating management firm.

The new deal assures $320 million worth of business annually for the Mumbai IT giant., from 2017 to 2020. Prospective annual revenue from 2021 till 2024 is being seen at $186 million, and at $139.5 million in 2025.

Mumbai: Shares of Tata Consultancy Services Ltd (TCS), India’s largest IT firm by market value, underperformed benchmark Nifty50 index for the fourth consecutive year in 2017. So far this year, TCS has gained 12.49% compared to a 26.1% rise of the 50-share index, according to data from Bloomberg.

Despite the underperformance, TCS shares are still the most expensive in the IT space.

Infosys share buyback is all set to open on Thursday, 30 November 2017, after India’s second largest IT company Infosys announced 1 November as the record date for the repurchase of shares. In the Infosys buyback offer, all the investors who held Infosys shares as on 1 November 2017 are eligible to participate in Infosys buyback process. The record date for Infosys buyback was announced on 10 October 2017. The second largest IT company — Infosys — is coming up with the second largest share buyback in the history of Indian stock markets. Earlier in May 2017, India’s largest share buyback to date was offered by the country’s largest IT company — Tata Consultancy Services.

Bengaluru: Tata Consultancy Services Ltd (TCS) will build both technologies and talent rather than buy it from outside. TCS, India’s largest software services firm, maintains that it is the company’s DNA to build technologies and groom leaders to take up senior roles, even if implementing this strategy means the company has to sacrifice some growth in the short term.

“I don’t know if insular would be the right word but definitely, we believe in building talent and technologies in house,” chief executive officer Rajesh Gopinathan said in an interview on Wednesday.

India’s information technology (IT) industry could significantly fall short of its targeted generation of 130,000-150,000 new jobs this year as large companies such as Cognizant, Infosys, and Tech Mahindra (TechM) shed people to embrace automation and focus on productivity of the workforce.

The National Association of Software and Services Companies (Nasscom), the software industry lobby, had estimated that 130,000-150,000 jobs would be created even as it forecast a lower growth of 7-8 per cent this year.

The $150-billion-plus Indian IT industry witnessed the performance of the top tier multi-billion dollar companies—Tata Consultancy Services (TCS), Infosys, Wipro and HCL Technologies for the second quarter of FY18. The writing on the wall is very clear: the industry will walk the path of a single digit growth with a strong focus on the operational parameters to ensure higher profitability.

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