Tata Consultancy Services (TCS), the largest IT services company in
The deal pipeline is there, which was not the case a couple of months ago. The first quarter was an good one and when things start picking up, it will be even better. By December, it will be known how spending patterns are going to be in the next year. The company expects annualised revenues of $30-$100 million flowing in from the $2 billion IT vendor consolidation deal from UK-based BP which it won along with IBM, Accenture, Infosys and Wipro.
The revenue would start trickling in from the third quarter. TCS will increase its hiring from the next quarter onwards to service the deal. The company will hire 18,000 employees this fiscal. It is also looking to transfer its onshore employees to offshore locations to cut costs, as clients have become more receptive to it. It moved about 1,000 onshore jobs last quarter.
Pricing is recovering in areas like banking financial services and insurance (BFSI), utilities and life sciences. However there are exceptions, especially in sectors like manufacturing and telecom which still need to be watched. The company is looking to double its domestic revenue to $1 billion in the next three years, where the government contributes 40%. The domestic market currently contributes 10% to its total sales.
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| Company Name | CMP |
|---|---|
| TCS | 4168.05 |
| Infosys | 1922.05 |
| HCL Tech. | 1911.20 |
| Wipro | 305.15 |
| Tech Mahindra | 1685.20 |
| View more.. | |
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