India’s second largest information technology (IT) services provider, Infosys, has abandoned plans to develop its second centre in Thiruvanthapuram’s Technocity. Senior executives said lack of infrastructure at the project site was why.

Ramadas Kamath, executive vice-president at Infosys, who heads infrastructure, facilities and administration, confirmed a letter from Infosys had been sent to the Technopark authorities conveying the decision.

IT giant Tata Consultancy Services (TCS) has been rated as the best company in India on various financial and operational parameters by Dun & Bradstreet.

The list of top 500 firms places Reliance Industries and ITC at the second and the third spots respectively.

NEW DELHI: The Tata Group has virtually ruled out re-acquiring Air India when the government decides to divest in it.

"That was 14 years ago (when Tatas were keen on buying back AI.) Not now," Tata Sons-Singapore Airlines (SIA) JV Vistara chairman Prasad Menon told TOI.

Shares of information technologies (IT) companies were trading firm on the bourses, gaining upto 4% each, on the back of positive corporate announcements and weakening rupee.

HCL Technologies, Tech Mahindra, Tata Consultancy Services (TCS), Persistent Systems and Cyient rose 3%-4% each, while Infosys, Wipro, Hexaware Technologies, Polaris Consulting & Services and MindTree gained 1%-2% each on the National Stock Exchange (NSE).

At a time when competitors such as Infosys, Wipro and Cognizant have been aggressive with inorganic growth (mergers and acquisitions), India’s largest information technology (IT) services provider, Tata Consultancy Services (TCS), prefers to grow organically.

Rajesh Gopinathan, chief financial officer at TCS, had told the Business Standard in an earlier interview: “We are always open to large investments and we have the capacity to do it. We believe the opportunity for organic growth is so large that an acquisition-led growth strategy is not something that we are very keen on.”

MUMBAI: Debashis Poddar may have a busy two years ahead. The global head of mergers and acquisitions at Tata Consultancy ServicesBSE -0.23 % is expected to help boost the company's appetite for M&A deals when its rivals are dipping deep into their wallets to buy growth.

TCS, the country's largest software services company, has always been a conservative player in the M&A space, a trait it used to share with others in the IT industry. However, over the past few months, Infosys and Cognizant Technology Solutions have become more aggressive in buying companies, while Wipro is boosting investments in startups.

Tata Consultancy Services, the IT arm of the Tata Group, has been ranked fifty-seventh in valuation firm Brand Finance's latest list of the top 500 brands in the US. TCS's brand value has jumped nearly four times in the last five years to touch $8.7 billion now, Brand Finance said. In 2010, TCS's brand value was $2.3 billion, it said.

Interestingly tech companies have made it to the top three spots in the list. Apple is number one, followed by Google and Microsoft.

Between Tata Consultancy Services (TCS), Wipro and Infosys, the three bigwigs of the Indian IT space, it seems that that employees are jumping the ship at a rate faster than ever.

The annual attrition rate at Infosys stood at 18.9%, Wipro average at around 15% and TCS shed nearly 48,000 employees last year, averaging at 14.9% in the last quarter of fiscal year 2015.

Vishal Sikka-led Infosys is expected to see a 60-70-basis-point (bps) decline in its operating profit margin as it closes the fourth quarter of FY15 hit by cross-currency movements. At the same time, speculation is mounting that the IT major is close to announcing another acquisition in the digital domain.

Infosys, which will announce its results on Friday in Chennai, is not expected to buck the trend, as witnessed in the quarterly performances of TCS and Wipro, which recorded flattish revenue growth and tepid profits.

Mutual fund houses offloaded shares of pharmaceutical major Lupin Ltd, information technology (IT) giant Tata Consultancy Services (TCS) and Motilal Oswal Financial Services over the last two months.

While fund managers reduced their cash holdings and went on a buying spree over the last two months, they avoided these stocks.

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