Topic: Tata Consultancy Services

Global media also reports on job cuts announced by the Tata Consultancy Services and Kartik Kumra at Paris Fashion Week.

Global media also reports how India’s biggest air carrier IndiGo plans to leave behind its budget image.

Tata Consultancy Services, India’s top IT services company, which reported a revenue beat on Thursday, rose about 2%.

Tata Consultancy Services, which had reported weaker-than-expected fourth-quarter results, had said its order book stood at $10 billion.

Market participants are watching Tata Consultancy Services for signals on the demand outlook for the sector, which is staring at the possibility of a recession in the US and Europe.

Tata Consultancy Services CEO Rajesh Gopinathan said the company seeks to reach $50 billion in sales by the end of the decade.

The stock index had fallen into a so-called correction last week after sliding more than 10 percent from a peak in August.

Thirteen of 19 sector sub-indexes compiled by Bombay Stock Exchange declined, led by losses in consumer and telecom stocks. 

Infosys has to invest in advanced technology and skills to capture new opportunities. That includes pumping more money into technologies such as the Internet of Things, retraining employees, localising its workforce in the US and building up sales staff.