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.

Bengaluru: Wipro Ltd’s chief operating officer Abid Ali Neemuchwala is implementing a back-to-basics strategy that includes simplifying processes and finding ways to sell more to clients as pressure builds on the top executives at India’s third-largest software services company to deliver faster growth.

“What we are doing is making many or our internal processes simple,” Neemuchwala, who joined as chief operating officer of the Azim Premji-controlled company in April, said in an interview on Tuesday.

Markets continue to trade in a narrow range as losses in financials and auto shares offset gains in the technology pack. Meanwhile, release of the macroeconomic numbers CPI and IIP due to be released tomorrow coupled with weakness in Rupee after China devalued yuan by nearly 2% hurt the sentiments.

At 10:40 am, the Sensex is down 10 points at 28,092 and the Nifty has slipped 5 points to trade at 8,521.

BENGALURU | MUMBAI: India's $146-billion information technology (IT) industry is consistently haemorrhaging more people than ever before, even as the sector and large companies such as Tata Consultancy Services(TCS) and Infosys achieve greater size and scale with each passing year.

Over the last four quarters, India's largest software exporters TCS, Wipro and Infosys combined have lost roughly over 100,000 people between them, ET's analysis shows.

IT services, consulting and business solutions company, Tata Consultancy Services Limited (TCS), will be setting up a research and development (R&D centre) at the International Institute of Information Technology, Hyderabad (IIIT-Hyderabad) with an investment of Rs 20 crore.

Called the FC Kohli Centre on Intelligent Systems (KCIS), the 60,000-sft centre will act as an umbrella organisation at IIIT-Hyderabad to both strengthen the existing groups and facilitate new technologies.

Benchmark share indices which had ended at three-month closing highs witnessed profit taking in select financials capping further upside even as IT shares continued to trade firm. Further, rising concerns over weak monsoon in July also weighed on sentiment.

At 1:30PM, the 30-share Sensex was up 24 points at 28,470 and 50-share Nifty was up 5 points at 8,613.

Ajoy Mukherjee, executive VP and global head, HR at India’s largest IT services provider Tata Consultancy Services (TCS) is undertaking a mammoth task of training one-third of its employees or 100,000 people on digital technologies.

The need and reason is obvious. With close to 12.5% revenue of the $15.5 billion company coming from the digital space (that represents close to $2 billion), having trained set of skills is a necessity.

TCS’s results exhibit that sector demand momentum continues to suffer from lack of exuberance, with different segment-specific issues causing a miss in growth versus consensus at TCS for the last four quarters. While in isolation there is nothing major to fault in the numbers, soft manufacturing and slightly weaker European growth in Q1 led to the miss.

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