Source : Business Standard

Tata Consultancy Services, Infosys and Wipro may soon join the list of 10 most valued firms globally in terms of market capitalisation in the next two to three years.

This will happen because the three are growing thrice as fast as their foreign counterparts, says Wipro Chairman Azim Premji

On the back of the growing clout of the Indian information technology sector, domestic giants Tata Consultancy Services, Infosys and Wipro may soon join the list of 10 most valued firms globally in terms of market capitalisation in the next two to three years.

This scenario was projected by Wipro Chairman and India’s richest tech titan, Azim Premji, while speaking at the India Economic Summit on Tuesday.

Source: Hindu

Software services provider, Tata Consultancy Services, is aiming to end the current fiscal with $ 4 billion in revenue, which will require a growth rate of 30 per cent over the next two quarters.

“We have a target to achieve $ 4 billion dollars in revenue by the end of this fiscal growing at 30 per cent and for the last five years we have been growing at a compounded annual growth rate of over 30 per cent,” S Ramadorai, Managing Director and CEO TCS said on the sidelines of a Nasscom Conference.

The TCS scrip was trading down 1.3 per cent at Rs 1143.

TCS, a Tata Group company ended the fiscal 2006 with a revenue of $ 3 billion. Consolidated revenues of TCS for the year 2005-06 was Rs 13,386.23 crore ($ 3 billion).

On the Vision 2010 target of $ 10 billion revenue, the company hopes to be able to touch it.

IT majors and IT-enabled services units are eyeing Visakhapatnam and many IT units are likely to come up in the near future, according to Mr Shakti Sagar, the convener (IT and communications panel) of the AP region of the Confederation of Indian Industry. He was addressing a conference on “bridging the digital divide” here on Friday, organised by the Vizag zone of the CII.

He said Vizag had the potential to become a major IT centre, with a vast talent pool and congenial atmosphere. The infrastructure would have to be built up. Mr D. Ramakrishna, MD of Efftronics Systems Pvt Ltd, emphasised the need for improving human resources. Mr G. Vivekananda, the Chairman of the CII (Andhra Pradesh), and Dr Varma Vegesna, the Vizag zone vice-chairman, also spoke.

Read More @ Business Line

Mr S. Ramadorai, CEO & Managing Director, Tata Consultancy Services, during a press conference in the Capital on Friday. To tackle the manpower crunch in the IT industry, TCS has announced that it would start a seven-month training programme for science graduates. At present, the company employs only engineering graduates.

Around 500 science graduates are now being trained under the pilot programme in Chennai.

To tackle the manpower crunch in the IT industry, Tata Consultancy Services (TCS) announced that it would start a seven-month training programme for science graduates.

Around 500 science graduates are now being trained under the pilot programme at its Chennai facility. However, depending on the success of the programme, TCS plans to scale up and make offers to 2,000 science graduates during the next fiscal.

Read More @ Hindu Businessline

The Pentagon awarded almost $500 million in contracts to IBM and Cray on Tuesday to design a supercomputer several times as fast as today’s most powerful systems.

The Cray contract is for $250 million and the IBM contract is for $244 million, to be spent during the next four years. They prevailed over Sun Microsystems. The contracts are part of the High Productivity Computing Systems program being led by the Pentagon’s research arm, the Defense Advanced Research Projects Agency, or Darpa.

Read More @ DNA

US software company Microsoft has picked up 10% stake in TCS China, a joint venture promoted by Mumbai-based IT services company, Tata Consultancy Services and three Chinese companies.

The US software behemoth has signed an investment agreement to join the JV, a company statement said. The agreement was signed at an Indo-Chinese business forum, which had been addressed by Chinese President Hu Jintao on Thursday. The entry of Microsoft follows the granting of the business operating licence to TCS China.

Read More @ Economic Times

Tata Consultancy Services (TCS), (BSE: TCS.BO, NSE: TCS.NI), a leading global IT services and consulting firm, today announced that IDC, a leading provider of global IT research and advice, has ranked TCS number 8 in market share among U.S. Application Management Services (AMS) vendors. TCS is the first offshore vendor to be in the Top 10 list in the U.S.

Read More @ India PR Wire