A major American media company which owns prestigious dailies like Los Angeles Times and Chicago Tribune will outsource a part of its IT component to Indian software giant TCS, according to a media report.
The fiscal 20015-16 has been a very eventful year for the $150 billion Indian IT industry with the sector cognizant of the fact that the current model is very unlikely to take them to the next level of growth.
Shares of Tata Consultancy Services (TCS) slipped as much as 2.17 per cent intraday on Wednesday despite the company reporting 5.42 per cent quarter-on-quarter growth in its March quarter net profit at Rs 6,413.12 crore while
TCS beat estimates and reported 5.42 per cent quarter-on-quarter (qoq) rise in consolidated net profit figures at Rs 6,413.12 crore against net profit of Rs 6,083.39 crore in the sequential quarter ended December 2015.
Shares of Cyient were trading 7 per cent up at Rs 487.40. It was followed by Mindtree (up 6.60 per cent) and Infosys (6.43 per cent). The Nifty IT index was trading 2 per cent up at 11,578.50 (at 1.01 pm).
Software major Tata Consultancy Services and utility vehicle maker Mahindra Group top the list of corporates involved in construction of toilets in schools under the government’s Swachh Vidyalaya Abhiyan initiative, account