Markets continue to trade in a narrow range as losses in financials and auto shares offset gains in the technology pack. Meanwhile, release of the macroeconomic numbers CPI and IIP due to be released tomorrow coupled with weakness in Rupee after China devalued yuan by nearly 2% hurt the sentiments.

At 10:40 am, the Sensex is down 10 points at 28,092 and the Nifty has slipped 5 points to trade at 8,521.

BENGALURU | MUMBAI: India's $146-billion information technology (IT) industry is consistently haemorrhaging more people than ever before, even as the sector and large companies such as Tata Consultancy Services(TCS) and Infosys achieve greater size and scale with each passing year.

Over the last four quarters, India's largest software exporters TCS, Wipro and Infosys combined have lost roughly over 100,000 people between them, ET's analysis shows.

IT services, consulting and business solutions company, Tata Consultancy Services Limited (TCS), will be setting up a research and development (R&D centre) at the International Institute of Information Technology, Hyderabad (IIIT-Hyderabad) with an investment of Rs 20 crore.

Called the FC Kohli Centre on Intelligent Systems (KCIS), the 60,000-sft centre will act as an umbrella organisation at IIIT-Hyderabad to both strengthen the existing groups and facilitate new technologies.

Benchmark share indices which had ended at three-month closing highs witnessed profit taking in select financials capping further upside even as IT shares continued to trade firm. Further, rising concerns over weak monsoon in July also weighed on sentiment.

At 1:30PM, the 30-share Sensex was up 24 points at 28,470 and 50-share Nifty was up 5 points at 8,613.

Ajoy Mukherjee, executive VP and global head, HR at India’s largest IT services provider Tata Consultancy Services (TCS) is undertaking a mammoth task of training one-third of its employees or 100,000 people on digital technologies.

The need and reason is obvious. With close to 12.5% revenue of the $15.5 billion company coming from the digital space (that represents close to $2 billion), having trained set of skills is a necessity.

TCS’s results exhibit that sector demand momentum continues to suffer from lack of exuberance, with different segment-specific issues causing a miss in growth versus consensus at TCS for the last four quarters. While in isolation there is nothing major to fault in the numbers, soft manufacturing and slightly weaker European growth in Q1 led to the miss.

Tata Consultancy Services (TCS), India’s largest information technology services provider, beat consensus estimates on net profit and margin for the quarter ended June. But revenue growth in dollar terms was below the Street’s estimates.

A major positive was volume growth of 4.8 per cent, which followed disappointing performances on this front in the past few quarters, though it was lower than 5.7 per cent in the first quarter of FY15 and 6.1 per cent in the year-ago period. For TCS, the first half of a financial year is generally stronger from a growth perspective.

IT major Tata Consultancy Services reported a 3.3% sequential decline in profit after tax at Rs 5,709 crore in the April-June quarter and on annual basis it declined 13%.

It may be recalled that in the previous quarter ending March 2015, the company announced a cumulative bonus payout of Rs 2,628 crore to employees. If the payout is not factored in, profit for the quarter stands at Rs 5,906 crore.

Shares of information technology (IT) companies were under pressure, with the National Stock Exchange (NSE) CNX IT index touching six-month lows ahead of Tata Consultancy Services (TCS)' April-June quarter results today.

TCS and HCL Technologies were down 2% each at Rs 2,537 and Rs 914 respectively, while Infosys (1.6% at Rs 942), MindTree (1% at Rs 1,215) and Oracle Financial Services Software (1% at Rs 3,857) were down between 1% and 2%. However, Tech Mahindra and Wipro were trading in the green, up by less than 1%.

MUMBAI: Tata Consultancy Services' iON cloud platform, which failed to live up to its initial expectations of revolutionising the small-and-medium business space by offering them computing capabilities at a low cost, has taken on a new life almost five years after its launch. It's now the preeminent platform for conducting examinations in the country.

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