Mumbai, Oct. 13: The results season began on a tepid note for the technology sector as revenue growth at Tata Consultancy Services (TCS) lagged analysts estimates because of multiple factors. However, there was some consolation when the country's largest IT services company reported better-than-expected net profit numbers.

TCS posted a net profit of Rs 6,586 crore for the second quarter ended September 30, a 8.76 per cent growth over Rs 6,055 crore in the corresponding period of last year. Analysts had expected the company to post a net profit of around Rs 6,300 crore.

Infosys was trading higher by 2.4% at Rs 1,054, while Tata Consultancy Services (TCS) was down 2.3% at Rs 2,326 on the BSE, ahead of their July- September (Q2F17) earnings. The S&P BSE Sensex was down 1.7% or 487 points at 27,594.

TCS is scheduled to announce its Q217 results on Thursday, October 13, 2016, after market hours. Infosys will announce the results for its second quarter ended September 30, 2016 on Friday, October 14, 2016 around 8.45 a.m.

IT stocks are in the news this month after Mindtree and Tata Consultancy Services (TCS) turned cautious on the sequential growth in Q2 earnings. Mindtree on September 2 informed bourses that it expects Q2 FY17 revenue to be lower than the previous quarter.

Tata Consultancy Services (TCS) and GE have developed technology that will revolutionise gas turbine manufacturing with smart LEDs and GE’s Predix operating system. TCS has developed a digital solution to connect intelligent LEDs to GE’s Predix operating system for the industrial Internet through Intel Atom-based gateways, providing critical analytics to save significant time and costs in the manufacturing process.

Shares of information technology (IT) companies are under pressure with Wipro, NIIT Technologies, Hexaware Technologies and Tata Elxsi, hitting their respective 52-week lows on the BSE.

At 12:36 pm, the S&P BSE IT index, the largest loser among sectoral indices, was down 1.1% or 123 points at 10,267, as compared to 0.02% decline in the benchmark S&P BSE Sensex. The IT index hit an intra-day low of 10,230, its lowest level since February 29, 2016.

IT major Tata Consultancy Services (TCS), India's largest IT services provider, said that it has settled an ongoing law suit with Orange County, California. The company has paid $26 million to settle the three-year long dispute.

The dispute was over a failed replacement to the county's automated property tax system that initially was to be completed by 2010 but was not delivered. "TCS and Orange County have agreed to settle an ongoing dispute regarding the joint development of a Property Tax Management System.

Bengaluru: Tata Consultancy Services Ltd (TCS) is throwing its weight behind blockchain and getting ready to launch core banking software based on the underlying technology behind virtual currency Bitcoin.

This will make India’s largest software exporter only the second large company globally to do so. Incidentally, local rival Infosys Ltd launched a blockchain framework for Finacle, its core banking platform, earlier this year.

Tata Consultancy Services (TCS), India's leading information technology (IT) services provider, and JetBlue, one of the leading airlines in the US, are ramping up their relationship to strategically optimise and transform key business channels and enhance digital customer touch points.

During a three-year relationship, JetBlue has leveraged TCS' airline expertise to develop new platforms, and for quality assurance and infrastructure services.

Tata Consultancy Services (TCS), leading information technology (IT) services provider from India, was on Tuesday ranked 58th most valuable brands in the US, according to a survey, titled 'Top 500 U.S. Brands', by Brand Finance, a brand valuation firm.

The Brand Finance study evaluates the financial value of a company's brand name, intellectual assets and trademark as compared to companies across industries.

Riding on revenue growth, Tata Consultancy Services (TCS) has inked two large office space deals in the last quarter. TCS, India’s largest software firm, signed a 400,000 sq ft office space deal in Okaya Tower in Noida’s Sector 62.

It is expected to pay a rent of Rs 19 crore a year, or Rs 40 a sq ft a month, on the property. The lease deal is one of the largest in the National Capital Region (NCR) this year.

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