The temporary suspension of premium H1-B visa processing by the US administration would delay their issue to the Indian IT firms too but is not a major imperdiment, said industry's representative body Nasscom on Sunday.

"The temporary suspension of premium H-1B processing will create some process delays for the companies - Indian and American -- but is not a significant impediment," said the National Association of Software Services and Companies (Nasscom) in a statement.

Mumbai: Tata Consultancy Services Ltd (TCS), which is planning a Rs16,000 crore share buyback, said on Wednesday that founder group of the company intended to participate in the proposed buyback.

TCS, is part of the salt-to-software Tata conglomerate, whose holding company is Tata Sons Ltd.

Tata Consultancy Services (TCS) Chief Executive Officer (CEO) Rajesh Gopinathan is not “overtly perturbed” by the proposed overhaul of visa regime in the US but has sought a “level playing field” with similar policies for everyone. Gopinathan, who took charge as CEO this week, acknowledged there are political ramifications that need to be dealt with given the shift in demographics and political elements.

“All that we can ask for is a level playing field. As long as the rules of the game are similar, we are quite confident in our competitiveness that we can take on the best in the world...as long as we don’t see discriminatory policies,” Gopinathan told PTI in an interview.

Tata Consultancy Services (TCS), today announced that it has broken into the list of the Top 3 most valuable brands in the IT Services industry, in an assessment done by Brand Finance, the world's leading brand valuation firm.

"Just five years ago the TCS brand had achieved a major milestone, emerging as one of the big four brands in the IT Services sector. Through sustained growth in their brand value, they have now moved up one spot and consolidated their place along with IBM and Accenture at the top of the sector's foodchain," said David Haigh, CEO of Brand Finance.

Ratings agency S&P expects IT services major TCS to remain net cash positive even if its Rs 16,000 crore-buyback offer gets fully subscribed.

The ratings and outlook on Tata Consultancy Services are not affected by the company's Rs 16,000 crore offer for share repurchases, Standard & Poor's said in a statement.

In his first communication as the Chief Executive Officer & Managing Director of India’s largest IT services firm, Rajesh Gopinathan asked Tata Consultancy Services (TCS) staffers to become champions of digital as clients transition on to the digital road map.

"Our customers want partners who can take their existing investments and leverage the latest technology to transform their business. We, TCSers, have something unique, special — a deep understanding of our customers' business, of their systems and processes. This contextual knowledge, combined with proficiency in new technologies, will position us ahead of pure-play technology or consulting companies," said Gopinathan in his email to over 300,000 employees.

Global software major Tata Consultancy Services (TCS) Ltd on Monday announced that Tata Sons Chairman Natarajan Chandrasekaran will also be its non-executive Chairman from Tuesday.

"Tata Sons Ltd has nominated N. Chandrasekaran as the Chairman of the Board of Directors of the company in place of Ishaat Hussain from February 21," said TCS in a regulatory filing to the BSE.

Tata Consultancy Services' (TCS') board of directors has approved a proposal to buyback up to 5,61,40,351 equity shares of the company for an aggregate amount not exceeding Rs 16,000 crore, the company informed BSE in a filing.

The buyback size works out to 2.85 per cent of the company's total paid up equity share capital, at Rs 2,850 per equity share.

Tata Consultancy Services (TCS) has informed the BSE in a filing that its board of directors would consider a proposal for buyback of equity shares of the company at its meeting to be held on February 20, 2017.

The buyback, if approved in the board meeting, would be the company's first since its listing in 2004.

Bengaluru: Indian technology outsourcing companies’ inability to find new customers even as US rival Accenture Plc is managing to do business with firms that dominate the consumer Internet, including Google, Facebook Inc. and Amazon.com Inc., again underlines the reason behind the dismal growth of home-grown companies.

Google, Facebook, Amazon, Uber and Airbnb together accounted for at least $1 billion of Accenture’s $32.9 billion in revenue for the year ended August 2016 (Accenture follows a September-August fiscal), said an executive familiar with the development who declined to be named.

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