Five of the top 10 most valued firms together lost Rs 86,447.12 crore in market valuation last week, with Infosys, Tata Consultancy Services and State Bank of India taking the biggest hit.

Last week, the BSE benchmark fell 462.8 points or 0.79 per cent.

While Reliance Industries Limited, Tata Consultancy Services (TCS), HDFC Bank, Infosys and State Bank of India suffered erosion from their valuation, ICICI Bank, Hindustan Unilever Limited, ITC, HDFC and Bharti Airtel posted gains.

Top Indian information technology firms Tata Consultancy Services and Infosys have the highest exposure to regional banks in the United States that are gripped by a financial turmoil, analysts at J.P.Morgan said on Friday.

Regional banks in the United States account for 2-3% of their revenue, J.P. Morgan said in a note, adding that the exposure to the recently collapsed Silicon Valley Bank could be 10-20 basis points for TCS, Infosys and smaller rival LTIMindtree, with the Tata group company in the lead.

Tata Consultancy Services (TCS) beat Street estimates as the information technology (IT) major reported its highest-ever order book and crossed the revenue milestone of Rs 50,000 crore in a quarter, besides logging the highest incremental revenue addition of $3.5 billion in a year.

We have had a strong Q4 and we are ending the year on a strong note, especially for a year that has been marked by a steady recovery. Even beyond the financial metrics, every other parameter is looking good, said Rajesh Gopinathan, CEO and MD, TCS.

Tata Consultancy Services (TCS) and Bharti Airtel Limited (Airtel) on Tuesday announced the successful testing of TCS’ neural manufacturing solutions suite on Airtel’s ultra-fast 5G network.

Following the allocation of 5G trial spectrum by the Department of Telecommunications, TCS and Airtel partnered to test use cases from TCS’ neural manufacturing suite of solutions.

IT major TCS will encourage employees to join offices by the end of calendar year 2021.

At present, about 5 per cent of the IT major's associates are working from offices.

Towards the end of CY'21, we will encourage our associates to return to offices, at least initially, before we switch to the '25/25' model.

Tata Consultancy Services (TCS) has announced that its long-standing partnership with State Bank of India (SBI), India’s largest bank, has been extended for another five years as the bank embarks on its next leg of growth based on the three pillars of technology, resilience and people.

The extended partnership builds on a two-decades-long relationship between the two partners, that began with the implementation of the TCS BaNCS core banking solution in 2001, the largest such transformational program of that era.

In a big boost to the Kerala government's bid to attract investment, leading IT services provider Tata Consultancy Services (TCS) has agreed to invest Rs 690 crore to set up an Innovation Park in Kochi.

The state government has allotted 36.84 acres of land to TCS Ltd for setting up a unit for Electronics Hardware & IT/ITES in KINFRA Electronics Manufacturing Cluster, Kakkanad, Kochi.

India’s Tata Consultancy Services will help Dutch semiconductor manufacturer NXP in improving user experience and accelerate its digital transformation, said the two companies on Monday.

NXP Semiconductor works in automotive, industrial and Internet of Things, mobile, and communication infrastructure markets. It selected TCS as its strategic partner to drive its integrated IT services strategy across applications, IT infrastructure and workplace services spanning enterprise, manufacturing and engineering functions.

Largest software exporter TCS will be hiring more than 40,000 freshers from campuses in the country in the financial year 2021-22 , a top executive said on Friday.

The company, the largest employer in the private sector with a base of over 5 lakh employees, had hired 40,000 graduates from campuses last year and will do better on that number, its chief of global human resources Milind Lakkad told reporters here.

Shares of information technology (IT) companies, on Tuesday, were in focus at the bourses, with six stocks, Infosys, Mindtree, L&T Technology Services (LTTS), Sonata Software, Coforge and Intellect Design Arena from the S&P BSE IT index hitting their respective record highs in intra-day trade on expectation of strong earnings.

At 10:04 am, the S&P BSE IT index, the top gainer among sectoral indices, was up 1.5 per cent, as compared to 0.35 per cent rise in the S&P BSE Sensex.

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