Key Developments: Tata Consultancy Services Ltd (TCS.NS)
1,502.10INR
2:29am EDT
Rs3.70 (+0.25%)
Rs1,473.80
Rs1,495.00
Rs1,526.75
Rs1,493.00
613,668
1,433,715
Rs1,597.60
Rs1,055.00
Latest Key Developments (Source: Significant Developments)
Tata Consultancy Services Ltd Recommends Final Dividend and Redeemable Preference Shares Dividend
Tata Consultancy Services Ltd announced that the Board of Directors of the Company at its meeting held on April 17, 2013, has recommended a final dividend of INR13 per equity share. The Company also announced that the Board of Directors of the Company at its meeting held on April 17, 2013, have recommended a Dividend of INR0.19 on Redeemable Preference Shares of INR1 each of the Company for approval by the shareholders. Full Article
India Post, Tata Consultancy Services Ltd To Sign INR1,400 Crore (INR14 Billion) IT deal-The Economic Times
The Economic Times reported that Tata Consultancy Services Ltd has bagged the INR1,400 crore (INR14 Billion ) project of India Post for computerising counter operations and the two parties will sign a pact. The project is divided into two parts --two years for implementation and five years of maintenance. Full Article
Tata Consultancy Services Ltd To Acquire IT Services Firm Alti SA For EUR 75 Million
Tata Consultancy Services Ltd announced that it has signed definitive agreements for the acquisition of 100% equity shares in Alti SA, an IT services company in France, for a value of EUR75 million in an all-cash transaction. Full Article
Counsel Announces $29.75 Million Settlement In Employment Class Action Lawsuit Against Tata Consultancy Services Ltd, Tata Sons, Ltd., And Tata America International Corporation
Plaintiffs' Class Counsel jointly announced a settlement with Tata Consultancy Services, Ltd., Tata Sons, Ltd., and Tata America International Corporation (collectively referred to as Tata), on behalf of approximately 13,000 non-U.S. citizen employees who were sent (or deputed) to the United States from India to work in information technology jobs. The lawsuit challenged Tata's practice of requiring employees to sign over their tax refund checks to Tata and related practices during the class period. Tata vigorously contested the lawsuit and denied liability. The $29,750,000 settlement resolves the claims of the named Plaintiffs and Class members against Tata. As part of the settlement, all Class members who verify their current address will be entitled to a cash award. The settlement has been granted preliminary approval by U.S. District Court Chief Judge Claudia Wilken of the Northern District of California. The Settlement Classes include: All non-U.S. citizens who were employed by Defendants in the United States at any time from February 14, 2002 through June 30, 2005 and who were deputed to the United States after January 1, 2002 and before June 30, 2005; and All non-U.S. citizens who were employed by Defendants in California at any time from February 14, 2002 through June 30, 2005 and who were deputed to California after January 1, 2002 and before June 30, 2005. Full Article
Nielsen Boosts Tata Consultancy Services Ltd Contract To $2.5 Billion-Reuters
Reuters reported that Nielsen Holdings NV has increased the size of its contract with Tata Consultancy Services Ltd, to $2.5 billion from $1 billion. Nielsen also extended the contract by three years to 2020, and said it would buy at least $100 million in services annually from TCS, according to a regulatory filing. Under the 10-year contract signed in 2007, TCS provided IT and business services to Nielsen. Full Article
Tata Consultancy Services Ltd Announces Change in Chief Financial Officer
Tata Consultancy Services Ltd announced that Mr. S. Mahalingam, Executive Director and Chief Financial Officer will retire from his Executive and Board position on February 09, 2013, on reaching the retirement age of 65 years as per the Company's policy. Further the Company has informed that Mr. Rajesh Gopinathan would take over as the Chief Financial Officer (CFO) of the Company with effect from February 10, 2013. Full Article
Tata Consultancy Services Ltd Comments On FY 2013 Revenue Guidance-WSJ
The Wall Street Journal reported that Tata Consultancy Services Ltd is set to exceed its revenue growth target for fiscal 2013. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of INR624,159 million for fiscal 2013. Full Article
Tata Consultancy Services Ltd Declares Third Interim Dividend
Tata Consultancy Services Ltd announced that the Board of Directors at its meeting held on January 14, 2013 have declared a Third Interim Dividend of INR3 per Equity Share of INR1 each of the Company. The Third Interim Dividend will be paid to the equity shareholders of the Company on February 07, 2013. Full Article
Tata Consultancy Services Ltd Announces Change Of Chairman
Tata Consultancy Services Ltd announced that with effect from December 28, 2012, Mr. Ratan N. Tata, Chairman has retired from the Board and Mr. Cyrus Mistry has taken over as the Chairman of the Board. Full Article
Mitchells & Butlers Optimises HR And Payroll With Cloud-Based Platform From Tata Consultancy Services Ltd
Tata Consultancy Services Ltd announced that it has entered into a multi-year agreement with Mitchells & Butlers (M&B). The UK’s hospitality business chain is partnering with TCS to streamline the management of its HR and payroll operations, which serve 38,000 employees across 1600 restaurants and pubs across the country. The agreement underscores TCS’ non-linear growth strategy in key markets. TCS’ HCM Platform is an integrated and global solution that encompasses key areas of payroll, time management, workforce administration, compensation, recruitment, learning management and performance management. It comes with full self-service, actionable analytical reporting and comprehensive mobile enablement. Customers have the choice to adopt the platform under SaaS, BPaaS (SaaS + BPO Process Delivery) or a hybrid model. Full Article
India's TCS shares gain in pre-open trading on revenue outlook
MUMBAI - Shares in India's Tata Consultancy Services Ltd (TCS) rose 2.15 percent in pre-open trade on Thursday after it painted a more bullish picture for future revenue growth than key rival Infosys .
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