Posts Tagged ‘tcs’

Encouraged by public response to its Passport Sewa mobile app for Android phones, the Ministry of External Affairs (MEA) has now launched the application for Windows and Apple iOS platforms.

The app provides passport-related information on the smartphones. The MEA had released the android version of the app in March this year.

This is an extended service of the Passport Seva Project, executed in Public-Private-Partnership mode with IT services major Tata Consultancy Services (TCS).

mPassport Seva provides a wide variety of services such as status tracking, locating a passport office and other general information, TCS said in a release.

The application provides information on various steps involved to obtain a passport related service and related phone numbers in case of queries or concerns, it added.

The users will also be able to search for a Passport Seva Kendra (PSK) or District Passport Cell (DPC) in a district where a passport application can be submitted. This can also be searched based on PIN code. For certain states and districts, the users can search for police stations as well.

Citizens residing overseas who apply for a passport service in Indian Missions/Posts abroad can also utilise this facility for searching address and other relevant information.

The fee calculator feature of the app enables users to find out the applicable fee based on the service and mode of submission. Users can track the status of their passport applications by providing the file number and date of birth. In case the passport has been dispatched, delivery status can also be tracked.

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Infosys’ first earnings announcement after the return of N R Narayana Murthy is expected to put the retired cofounder under a sharp spotlight as analysts seek clarity on milestones that could signal the company’s return to health.
Murthy, who was recalled by the board last month, may have the unenviable task of paring the growth forecast for India’s second largest software services exporter as cross-currency swings shave off gainsthe rupee’s depreciation against the dollar. The industry veteran has sought three years to “rebuild a desirable Infosys” but an anonymous ET poll of 15 brokerages shows that analysts would want to know sooner that the rebuilding is indeed taking roots.
Analysts said that they expect signs of revival and return of growth momentum in about three quarters. The majority of analysts said that they expect the software exporter to pare its growth guidance6-10% given at the beginning of the fiscal. That pales in comparison with Nasscom’s projection of 12-14%.
“Infosys guidance is likely to take centre-stage,” wrote Rumit Dugar and Udit Garg of Religare Institutional Research in a note to clients on earnings expectations. For the April-June quarter, Infosys’ revenue reported in dollars is expected to grow at a tepid pace of 1-1.5%, which is estimated to be well below that of Tata Consultancy Services, Cognizant and HCL Technologies but likely better than Wipro.
Given Murthy’s philosophy of predictable growth, there is also an expectation that Infosys may bring back the practice of giving earnings guidance, which it stopped last quarter. At least two analysts polled said they expected Infosys to reintroduce earnings guidancethe next quarter, if notthe current one.
Despite the currency depreciation, which is expected to trickle down to the bottomline, Infosys is expected to report a marginal fall in net profit as it absorbs the effects of an unexpected June wage hike. Falling pricing will also add to pressure on profitability, analysts said. Given that rivals such as Cognizant and TCS are capturing a larger share of the market, Infosys is unlikely to be able to maintain pricing levels, leading to erosion in profit margins.
While the expectations are high, it is not so much about the first quarter numbers, but about visibility into future growth. “NRN’s return implies that any disappointment in first quarter may be overlooked,” said Sandeep Muthangi, an analyst with IIFL. “What analysts will be watching out for is details on the roadmap and the specifics on the changes that Murthy is seeking to bring about.”
The ET poll showed that only a few analysts expect Infosys to return to industry leading growth before the next fiscal or the one after that. Accenture and Oracle performing below expectations has also sobered expectation levels among industry observers.
“Accenture’s weak consulting growth indicates that there is still no improvement in the discretionary spending environment, which is likely to hurt companiesInfosys more due to its relatively high exposure to discretionary segments,” Nomura analyst Pinku Pappan wrote in a recent note to clients.

Tata Consultancy Services, India’s largest software services exporter, said it has raised the chief executive N Chandrasekaran’s maximum salary limit by 50% to Rs 15 lakh a month with effect from April 1, 2014, to “compensate for the additional business activities and responsibilities.” ..

Including benefits and bonuses, TCS CEO was paid around Rs 12 crore in the year to 31 March 2013. The salary bump comes at a time when TCS is easily outpacing its competition in the Indian IT outsourcing industry. Revenue in 2012-13 grew 14%, ahead of the industry growth rate of about 11% ..

TCS also expects to beat IT industry body Nasscom’s 2013-14 growth expectations of about 12-14% ..

There will be a proportionate increase in benefits related to his salary, the company said in its annual report for the year 2012-2013 ..

The company said it ask shareholders to approve Chandrasekaran’s revised compensation at its annual general body meeting, slated to be held on June 28th ..