Latest news with #TataConsultancyServicesLtd
Mint
2 days ago
- Business
- Mint
TCS campus hiring plans intact despite layoffs
Tata Consultancy Services Ltd (TCS) is pressing ahead with campus hiring plans, even as it navigates the retrenchment of over 12,000 middle and senior executives. Placement executives at multiple engineering colleges said India's largest IT services company emailed last week to select graduates through its hackathon programme, and also as part of its usual hiring plans. The outreach signals that India's biggest private employer continues to prioritize lower-cost, entry-level talent, particularly those skilled in emerging technologies, while trimming its more expensive, seasoned workforce. The move, coming at a time of broader slowdown in foreign markets and domestic business challenges, underscores TCS's cost-saving measures and its strategic pivot towards a younger, digitally fluent workforce. 'The mails for their hackathon called CodeVita came in last week," the head of placement at an engineering college said, referring to the coding contest that TCS organizes to identify and recruit top coding talent. "Last year (for the batch of 2025), TCS recruited about 80 students, but this year's numbers are not confirmed. Last year, the company offered ₹4-6 lakh and ₹13 lakh for students depending on the programme for which they were recruited," the person said on the condition of anonymity. First step The hackathon is the one of first screening tests to join TCS, and shortlisted candidates are interviewed at TCS offices. Hiring, either via CodeVita or directly from campuses, typically starts in August. Sometimes, TCS executives also visit colleges for campus placements. TCS has a multi-pronged strategy on hiring. It recruits via hackathons, and in some cases, comes directly to campuses and shortlists candidates. The firm has its own recruitment team which hires lateral talent from the industry, and also works with HR firms to get people on board for both contract and permanent hiring. Queries emailed to TCS remained unanswered. On Sunday, TCS said it plans to reduce staff by 2% over the course of the year, particularly middle and senior-level executives. The decision, which will affect over 12,000 employees, comes after the company deferred pay hikes earlier this year, and saw a decline in revenue in the June quarter. Like its peers, TCS also faces pressure from slowing discretionary spending by global clients, as well as the disruption from the advance of GenAI. A rough calculation shows that if the employees being relieved earn ₹15 lakh per annum, TCS may save at least ₹1,830 crore. Compared to the average compensation of the middle order, freshers armed with the latest in AI and ML skills come in for ₹4-13 lakh. Analytics, web apps 'We are hoping for TCS to hire more this year," said Savitha Rani, training and placement officer at Ramaiah Institute of Technology in Bengaluru. 'TCS generally hires from the computer sciences and allied branches, but hiring is not restricted to any department," she added. At Ramaiah, TCS hires at salaries above ₹6 lakh per annum. 'Skills are more sought-after for data analytics and web-based application development," said Rani. TCS told analysts after its June quarter earnings release that it aims to hire 40,000 freshers this fiscal year. However, the plan now looks ambitious, said an industry executive who recruits for TCS. 'They may have announced it in earlier quarters, but they cannot be laying off 12,000 and hiring much more at campus levels, the person said on the condition of anonymity. Meanwhile, rival Infosys has said it plans to hire 20,000 freshers this year, whereas Wipro is targeting over 10,000. HCL Tech is expected to hire more than 7,000 freshers. Revenue fall In the June quarter, TCS revenue fell 0.59% sequentially to $7.42 billion. The IT firm, seen as the crown jewel of the Tata Group, was the slowest performer last quarter among India's top five homegrown IT outsourcers including Infosys Ltd, HCL Technologies Ltd, Wipro, and Tech Mahindra Ltd. 'We don't expect TCS to hire fewer people this year, because we haven't heard anything along such lines. The hiring is expected to continue as expected for niche roles such as coding and software skills," a placement officer at PES University in Bengaluru said on the condition of anonymity. TCS added 5,090 employees last quarter to end with 613,069 employees by 30 June. In FY25, it added about 42,000 graduates in categories such as ninja, digital and prime at salaries upwards of ₹3 lakh, ₹7 lakh and ₹9 lakh, respectively. Hiring hotspots 'TCS conducted a virtual test two months back. We are expecting the results soon," the PES official added. TCS hires throughout the year, especially off-campus; hence, a count of graduates it hired isn't available, the official said. To be sure, the virtual test is part of the regular campus hiring, separate from CodeVista. PES University in Bengaluru, Ramaiah Institute of Technology, Sharda University, Manipal Academy of Higher Education, and Amity University are among the colleges TCS routinely hires from. Some of the colleges have received confirmation for the hackathon and some for direct campus hiring as well. 'More than 50 students were recruited last year and this time, we expect a similar number. Rival Infosys has picked up some students already for a higher package," said the placement officer of one of the colleges mentioned earlier. Last year, the company recruited from its campus for a salary of ₹4.25 lakh. Recruiters are increasingly looking at soft skills, the PES placement official said. This comes at a time when IT outsourcers like Wipro Ltd and LTIMindtree Ltd have been taking assessments for its employees. While Wipro is rolling out English language assessments for employees on email writing, speaking and comprehension, LTIMindtree is linking pay hikes of middle and senior managers to coding and math-based assessments.
Time of India
22-07-2025
- Business
- Time of India
Stock market update: Nifty IT index falls 0.17% in an upbeat market
NEW DELHI: The Nifty IT index traded negative around 10:19AM(IST)on Tuesday in an upbeat market. Tata Consultancy Services Ltd .(up 0.19 per cent), Tech Mahindra Ltd .(up 0.18 per cent) and HCL Technologies Ltd .(up 0.12 per cent) were among the top gainers. Explore courses from Top Institutes in Select a Course Category Management Data Analytics MBA PGDM Healthcare Data Science Operations Management Technology CXO Public Policy Digital Marketing Degree Others Product Management healthcare Finance MCA Data Science Design Thinking Leadership Project Management Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details Oracle Financial Services Software Ltd .(down 0.84 per cent), Coforge Ltd.(down 0.73 per cent), Infosys Ltd.(down 0.54 per cent), Wipro Ltd.(down 0.2 per cent) and MphasiS Ltd .(down 0.2 per cent) were the top losers on the index. The Nifty IT index was down 0.17 per cent at 36968.0 at the time of writing this report. Benchmark NSE Nifty50 index was up 25.21 points at 25115.9, while the BSE Sensex was up 150.7 points at 82351.04. Live Events Among the 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the red. Shares of Eternal, Vodafone Idea , PC Jeweller , Swiggy and JP Power were among the most traded shares on the NSE. Shares of Lords Chloro , Viji Finance , Sambhv Steel Tubes , Eternal and Bhartiya Intnl hit their fresh 52-week highs in today's trade, while Ortel Communications , Mask Investments , Raymond Realty , Gayatri Project and IL&FS Engg Const hit fresh 52-week lows in trade.
&w=3840&q=100)
Business Standard
14-07-2025
- Business
- Business Standard
HCL Technologies, Tech Mahindra lift veil on Q1 IT industry outlook
By Justina T. Lee, Rachel Yeo, Harshita Swaminathan & Reina Sasaki Indian software leaders HCL Technologies Ltd. and Tech Mahindra Ltd. will offer more insights into IT services sector's future when they report earnings this week after bigger rival Tata Consultancy Services Ltd. posted a fall in first-quarter sales on cautious client spending. Quarterly sales across India's computer services and IT firms are projected to have slid 0.6 per cent sequentially, Jefferies analysts Akshat Agarwal and Ayush Bansal said in a note previewing the sector. Softer seasonal performance is seen as the main drag on earnings, though could be partly offset by US dollar depreciation boosting firms like HCL Technologies, Tech Mahindra, and Coforge Ltd., which have a higher exposure to Europe. On Thursday, Tata Consultancy Services Ltd. reported a 3 per cent annual decline in sales for the first quarter through June on a constant currency basis as clients were cautious on technology spending due to global trade and geopolitical uncertainties. This also signals it's doubtful that tech services industry will recover this year from deteriorating spending. Looking ahead, deals are likely to continue at a steady pace as clients keep looking at software solutions to optimize operations, Jefferies said, though noting that discretionary IT spending remains under pressure. Meanwhile, Taiwan Semiconductor Manufacturing Co.'s US expansion plans will be in focus after the Senate passed a tax bill that would make it cheaper for chipmakers to build plants there. TSMC will be eligible for an investment tax credit of 35 per cent if it breaks ground on new plants before a 2026 deadline.
Business Standard
11-07-2025
- Business
- Business Standard
Quick Wrap: Nifty IT Index declines 1.78%
Nifty IT index ended down 1.78% at 37693.25 today. The index is down 3.00% over last one month. Among the constituents, Tata Consultancy Services Ltd slipped 3.43%, Wipro Ltd shed 2.55% and LTIMindtree Ltd dropped 2.14%. The Nifty IT index is up 1.00% over last one year compared to the 3.43% surge in benchmark Nifty 50 index. In other indices, Nifty Auto index is down 1.77% and Nifty Media index is down 1.60% on the day. In broad markets, the Nifty 50 is down 0.81% to close at 25149.85 while the SENSEX is down 0.83% to close at 82500.47 today.
Business Standard
11-07-2025
- Business
- Business Standard
Tata Consultancy Services Ltd down for fifth straight session
Tata Consultancy Services Ltd is quoting at Rs 3271, down 3.28% on the day as on 13:19 IST on the NSE. The stock tumbled 21.82% in last one year as compared to a 2.68% rally in NIFTY and a 3.53% fall in the Nifty IT index. Tata Consultancy Services Ltd is down for a fifth straight session today. The stock is quoting at Rs 3271, down 3.28% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.77% on the day, quoting at 25159.1. The Sensex is at 82509.41, down 0.82%.Tata Consultancy Services Ltd has lost around 4.75% in last one Nifty IT index of which Tata Consultancy Services Ltd is a constituent, has eased around 2.11% in last one month and is currently quoting at 38376.65, down 1.9% on the day. The volume in the stock stood at 56.31 lakh shares today, compared to the daily average of 24.07 lakh shares in last one month. The benchmark July futures contract for the stock is quoting at Rs 3271.5, down 3.51% on the day. Tata Consultancy Services Ltd tumbled 21.82% in last one year as compared to a 2.68% rally in NIFTY and a 3.53% fall in the Nifty IT index. The PE of the stock is 25.47 based on TTM earnings ending March 25.
