India’s largest software exporter, Tata Consultancy Services (TCS), is in talks with nine of the 11 payments bank licence holders to offer operational solutions, according to a highly placed source at the company.

“We have a solution for payments banks and are taking it to the Indian market,” confirmed N Chandrasekaran, managing director, during an interaction.

Shares of information technology (IT) major TCS traded nearly 4% lower on the National Stock Exchange (NSE) at Rs 2496 levels at 9:45am, after the company reported a revenue of Rs 27,165 crore for the quarter ended September 2015 as against a consensus Bloomberg estimate of 27,229 crore. By comparison, the CNX Nifty was trading 0.1% lower at 8,122 levels.

In US dollar terms, TCS's clocked a revenue of $4,156 million, a growth of 3% on q-o-q basis, but was lower than the Street's estimate of around 4% growth. This marks the fifth quarter in a row where TCS has missed revenue growth expectations.

Following close on the heels of Infosys revealing a top quarter, IT major Tata Consultancy Services (TCS) is all set to announce its second quarter (Q2) earnings Tuesday evening. While Infosys did very well (http://fexp.in/IBh197190 ), market experts see around 9 per cent quarter-on-quarter (qoq) growth in TCS net profit figures for the quarter ended September 30, 2015.

For the first quarter ended June 30, 2015, TCS posted a consolidated net profit of Rs 5,484.12 crore, up 53.10 per cent, against Rs 3,712.67 crore in the sequential quarter ended March 2015. Gross sales of the company jumped 5.98 per cent quarter on quarter (qoq) to Rs 25,668.11 crore.

Nifty closed weekly in positive territory. It managed to hold lower end support levels as expected last week & sharply bounced back after RBI Policy. The correction turned out to be 3 waves declines. It made a low of 7691.20 levels on nifty & 25,287.33 levels on sensex. Broader market is out performing at current levels of market. Midcap, small cap & Bankex indices etc closed weekly in positive territory. It made a high of 26,430.62 levels on sensex & 8008.25 levels on nifty at the end of weekly trading session.

BENGALURU: Months after it poached Tata Consultancy Services veteran Abid Ali Neemuchwala as its operations chief, Wipro has roped in yet another top executive from TCS, Dave Chopra as Vice President of its key global infrastructure business. India's third-largest software exporter confirmed the development.

"Wipro can confirm that Dave Chopra has joined the company as vice-president, global infrastructure services, and will be responsible for driving strategy, marketing and business development for GIS.

Tata Sons the holding company for $ 109 billion Tata Group has appealed in the Supreme Court against an estimated Rs 300 crore sales tax demand from Maharashtra state government.

In January 2015, the Bombay High Court had upheld the state tax department's decision to collect sales tax from the Tata Sons for the royalty it charges from group firms for using Tata brand name.

Nasdaq-listed information technology services provider Cognizant has approached industry body Nasscom after Tata Consultancy Services (TCS), India's largest IT services company, started its campus recruitment process almost a week ahead of the industry's normal recruitment schedule.

According to sources at engineering institutes in Tamil Nadu, TCS and some other firms will start recruitment from September 1 this year. And, recruitment at some four or five colleges, including a couple of those in Puducherry, started from August 23-24.

Indian IT giant Tata Consultancy Services (TCS) has announced a donation of $35 million (nearly Rs 231.77 crore) to the prestigious Carnegie Mellon University (CMU), the largest gift this top American educational institute has received from outside the United States.

The donation will be used for setting up a new facility at its campus in Pittsburgh, Pennsylvania and providing scholarships for students.

NEW DELHI: The S&P BSE Sensex plunged over 450 points in trade on Friday, tracking weak trends across global markets.

The 50-share Nifty index slipped below its crucial psychological level of 8250.

Three Indian companies figure in Forbes’ annual list of The World’s Most Innovative Companies topped by Tesla Motors, leading maker of fully electric vehicles.

Ranked 41st, Hindustan Unilever, India-based fast moving consumer goods company, tops the list of Indian Innovative Companies.

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