TCS Announces Rs 2,628 Crore Bonus for Employees, Russian Economy Remains Strong, Says Putin, BJP Mocks Rahul Return, Says Cong, Vice President Both 'Confused', Casteaways: Hathras Throws Up Uncomfortable Questions For BJP, Khushbu Sundar Dropped As Congress Spokesperson, To Join BJP Today, Carlton Chapman Dead, Former Indian Football Captain Was 49, Life Hit In Mumbai After Massive Power Outage Due To Grid Failure, The Curious Case Of True Indology And Other Tweets. Tata Consultancy Services, on Thursday, said it will pay its employees a one-time bonus to mark the 10th anniversary of the company’s Initial Public Offering (IPO). This special reward to employees acknowledges the role the employees have played in building TCS into one of the most respected and valued technology services companies in the world, Chandrasekaran added. In one of the largest-ever employee bonus payouts in the history of India Inc, software exporter TCS today announced a Rs 2,628 crore one-time bonus to staff to mark 10 years of its public listing. Chennai Super Kings' Belief In Shane Watson Surreal, But That's What MS Dhoni Is All About! "TCSers are well-known for their ability to execute, innovate and provide leadership in the customers' context. 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The last bonus that Tata Consultancy Services had announced was in 2018 in the ratio of 1:1. TCS went public in August 2004 and today is the country's most valued company with over Rs 5.05 lakh crore in market value and also the second most valued IT firm after IBM. Six magazines, wherever you go! Never miss a great news story!Get instant notifications from Economic TimesAllowNot now, NSENifty PharmaBSEAxis Bank Share PricePNB Share PriceCrude OilICICI Bank Share PriceStocks in NewsForexInfosys Share PriceCopper Rate, Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. He attributed the high attrition to the larger demand for trained IT professionals across the board as the business outlook starts look up for companies. Bonus Issue - View the stocks that have an upcoming bonus issue or have given a bonus issue in the past on The Economic Times. It’s a support for truth and fairness in journalism. Through the issue, Tata Sons offered 5.545 crore shares with a face value of Re 1 and at a premium of Rs 849. Tata Consultancy Services, on Thursday, said it will pay its employees a one-time bonus to mark the 10th anniversary of the company’s Initial Public Offering (IPO). 1 IT company Tata Consultancy Services (TCS) has announced that it will give its employees a one-time bonus of Rs 2,628 crore to mark the 10th anniversary of the company’s listing on India's biggest stock exchange in 2004. "There was a discussion on the bonus at the board, and I am happy it was considered favourably. On a rolling basis, stocks which come in top 80% of total market-cap are considered largecaps, next 15% midcaps and remaining 5% smallcaps. TCS Gives 0% Salary Hike In 2020, Refuses To Fire Any Employee; 40,000 Freshers Will Be Hired. Four Indian-Americans among 32 students chosen as Rhodes Scholars from U.S. Special Prosecutor in actor rape case steps down, Drip by drip, U.S. Republicans edge away from Trump election claims, Govt plans to set up charging infrastructure across 69,000 petrol pumps, Karnataka schools and PU colleges will not reopen in December, Storm off Tamil Nadu coast likely to become ‘severe cyclone Nivar’, Coronavirus India lockdown day 242 live updates | November 23, 2020, South African great-grandson of Mahatma Gandhi succumbs to COVID-19, Coronavirus vaccine | Pfizer could get U.K. approval this week, says Telegraph, Peaceful possibilities: On J&K local body polls. Founded in 1968 by the late JRD Tata, TCS had a revenue of Rs 94,648 crore or USD 15.5 billion, up 15.7 per cent in FY15. In one of the largest-ever employee bonus payouts in the history of India Inc, software exporter TCS today announced a Rs 2,628 crore one-time bonus to staff to mark 10 years of its public listing. One-time Bonus for employees worth Rs 2628 crore ($423 million) MUMBAI April 16, 2015: Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it will pay employees a Special Reward or one-time bonus to mark the 10 th anniversary of the company’s initial public offering in 2004. Printable version | Nov 24, 2020 12:16:38 PM | https://www.thehindu.com/business/Industry/tcs-announces-onetime-bonus-to-employees/article7109337.ece. You have reached your limit for free articles this month.
On May 2, 2012, TCS became the most valued company in terms of market capitalisation with an m-cap of Rs 2,48,116 crore, overtaking RIL's Rs 2,43,413 crore, and by July 24, 2014, it created history by becoming the first company to have an m-cap of over Rs 5 lakh crore. The Diwali windfall has come six months in advance for 2.5 lakh employees of software services giant Tata Consultancy Services (). (Total m-cap classification is done on a daily basis). In a first for the company when it comes to the digital space, it reported a USD 125 million revenue in 2014-15 from the cloud segment, adding it has grown 55 per cent. During the year, the company script had touched a high of Rs 2,834 on the BSE.
Get instant notifications from Economic Times ... 20 November, 2020, 07:21 PM IST. The shares were listed at Rs 1,076 apiece. TCS was listed on August 25, 2004, after a runaway IPO Subscribe to The Hindu now and get unlimited access. For better user experience update your browser to Internet Explorer (versions 9.0 and above) or use latest versions of Google Chrome, Mozilla Firefox and Safari. It is a subsidiary of the Tata Group and is listed on the Bombay Stock Exchange and the National Stock Exchange of India. However, we have a request for those who can afford to subscribe: please do. Globally, all employees who have completed at least one year of service will be eligible for the special bonus. You can switch off notifications anytime using browser settings. TCS commands such a high valuation despite the fact that the promoters still owns 73.90 per cent with the public owning just 26.10 per cent, 1.1 per cent above the regulatory requirement. When asked about the company's preference between protecting margins in the targeted 26 to 28 per cent band, and continuing with capital expenditure in the face of the currency volatility, Gopinathan said it will continue to remain committed to the investments on the ground but will take a "calibrated" approach for the upcoming exigencies. TCS states that the salaries in 1990s were low and so are compensated with Diwali bonus, but it fails to acknowledge that the $/Rs back then was on only 35 and now it is ~75. When quizzed about Steven Heldt, a north American employee who has dragged the company to court for favouring South Asians when it comes to hiring and promotion, Chandrasekaran refuted the charges saying, "from our point of view, it isn't true and we will be fighting it."