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.

New Delhi: Indian businessmen scrambled to showcase many of their existing investment plans and allocations as a response to Prime Minister Narendra Modi’s Digital India initiative, which was launched on Wednesday. By the end of the day, they had announced planned investments of Rs.4.5 trillion, and hires of 1.8 million people, over the next 5-10 years.

The numbers sound highly laudable, but are mostly investments in their own businesses, experts said.

Country’s largest IT services firm Tata Consultancy Services (TCS) on Tuesday said it will hire 60,000 people this fiscal and impart training to its existing one lakh employees in various digital technologies.

The software exporter is also ramping up investments in the digital solutions space.

MUMBAI: Tata Sons, owner of the Tata brand and promoter of Tata companies, has capped the royalty payment from group entities using the Tata name at Rs 75 crore. The cap on maximum royalty amount is aimed at reducing the burden on its large and profitable units and also freeing up cash for their growth. The move by Cyrus Mistry-led holding company for India's largest conglomerate, with a brand value of $21 billion, is in contrast with decisions by several MNCs to saddle their Indian arms with higher royalty payments.

Laid out in 1996, under an agreement titled Tata Brand Equity and Business Promotion (TBEBP), companies using the 'Tata' name have to directly shell out 0.25% of the annual revenue or 5% of the profit before tax, whichever is less.

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