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TCS 16000 Crore Share Mega Buyback Offer to Start from 18th of May

TCS Buyback offer

Mumbai: One of the biggest Tech services company Tata Consultancy Services (TCS) had recently started the buyback offer. The shareholders have already started the re-buying program on May 18th itself. The offer is valid till 31st this month.

TCS is now giving buyback of about Rs. 16000 crores. Recently in 2012, Reliance Industries too offered a buy back of Rs. 10400 crores and became the highest buyback ever. But now TCS crossed that and topped the list.

Tata Consultancy Services now is Mulling Over the New Platform

The report also stated that the working span of the board of director Vijay Kelkar also got completed. TCS stated that they are taking the permissions from may 18th and will continue till may 31st. Shareholders who are eligible will get the letter of offer from May 16th onwards.

On the other side, even Infosys too as a part of capital automation offered a buyback of Rs. 13000 crores. Cognizant bought a 3.4 billion dollar share, and HCL Technologies bought shares worth Rs. 3500 crores.

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Union Budget 2017-2018 by Arun Jaitley: Key Points of the Budget

budget 2017 jaitley

Union Minister of Finance Shri. Arun Jaitley today had introduced the Budget 2017-2018 in the Parliament.

Speaking at the first budget session after demonetisation, the finance minister quoted that ” Merger of Railway Budget with General Budget is a great step.”

Mr. Jaitley said that the Inflation rate which was in double digits had controlled

Also Read: Union Budget 2017: What is SWAYAM?

Budget 2017-2018 Highlights

  • Funds to Mahatma Gandhi National Rural Employment Guarantee Act MGNREGA increased from Rs 38,500 crore to 48,000 crores. This is the all-time highest allocation.
  • Rs. 2.41 lakh crore for 2017-18 allotted for transport sector. It will boost infra sector, says Arun Jaitley
  • Long-term irrigation fund has been set up under NABARD; corpus now stands at Rs. 40,000 crore
  • Rs. 1.31 lakh crore sanctioned for Railways for developmental work, which includes Rs. 55,000 crore from Budget
  • The FM stated that they are going to abolish the Foreign Investment Promotion Board (FIPB), while FDI is getting a big makeover
  • For safety of Railway Passengers, Arun Jaitley announces safety fund of Rs. 1 lakh crore
  • Pradhan Mantri Mudra Yojana(PMMY) allocation lending amount increased to Rs 2.44 lakh crore
  • Jaitley says that India is now the 6th largest Manufacturing country in the world, improved from 9th place
  • 10 Lakh Crore rupees have been allotted as Agricultural credit to farmers
  • For the year 2017-2018,Funding of Rs. 1,87,223 Crores is Sanctioned for Rural Agricultural and Allied areas
  • 5% reduction in tax from 30% to 25% for companies who have less than 50 crore revenue.

Union Budget 2017-2018 pic

 

Also Read: Railway budget: Jaitley Gives Priority to the Safety of Passengers

  •  Jaitley sanctioned Rs. 10,000 crore for BharatNet project to expand broadband coverage
  • The customs duty on LNG to be reduced to 2.5% from the existing 5%
  • No transaction in cash over Rs 3 lakh will now be permitted henceforth.
  • Finance Minister proposes to Indian tech giants Infosys, TCS to provide core-banking support to co-operative banks
  • No political party can accept a donation of more than Rs. 2000 from any single individual or organization.
  • Personal Income Tax reduced from 10% to 5% for income of 2.5 Lakh to 5 Lakhs
  • A 10% surcharge on people having annual income of Rs 50 lakh-Rs one crore
  • No Changes made to 15% surcharge on incomes above Rs. 1 crore
  • 5% Tax Deducted at Source (TDS) On Insurance Agents have been Removed.
  • A single one-page form for filing IT returns for taxable income up to 5 lakh rupees
  • Swayam Platform Announced for Free Virtual Education
  • The total expenditure of 2017-2018 budget is RS. 21 lakh 47 thousand crores

The Union Budget 2017-2018 may not satisfy all the sections of people but definitely it would make some people happy. Slashes in Taxes would favour the middle class people a lot. It can be termed as the tax reduction budget, since many reductions in the taxes were made. Political Parties may get hurt due to the limitations imposed on the donations.

 Union Budget 2017-2018 Pdf 

Tata Consultancy Services now is Mulling Over the New Platform After it Moved Away from Bell Curve Model

Tata Consultancy Services

The renowned Indian Multi National Company Tata Consultancy Services (TCS) is planning to smooth down review bell curve with new review system. After it moved away from the Bell Curve model, now the company is mulling over the new platform.

Tata Consultancy Services is rethinking how it evaluates its 3, 70, 000 employees after scuffling the bell curve model. Now TCS is planning to bring in altered models of assessments for its IT and BPO employees and revise its increment system from scratch.

As the Indian IT sector moves way from the relative ranking of its 3-million employees, most companies are bringing in new models. TCS executive said, “There will be separate consideration systems for IT and BPO employees and we are looking at how senior executives should weigh up.”

Cyrus Mistry Takes his Words Back on Selling TCS to IBM

“Tata Consultancy Services (TCS) is also planning to build a new platform. The system for BPO employees would be more based on social media like the internal knome platform we currently use,” the executive said.

TCS will do assessment once in a year, instead of half-yearly reviews, targeted workers would move to a project-end appraisal cycle and that the projects could last anywhere from two months to a year. Not only TCS, but HCL Technologies is also building new platforms for reviews.

Possible Reasons for Cyrus Mistry Shocking Removal From Tata Sons

Recently Infosys has launched new tech iCount platform this year. IT firms in India and big business across the world will keenly watch how TCS manages its evaluations. Microsoft, KPMG, Accenture, and Deloitte have already unrestricted the Bell Curve, a performance rating system that requires managers to rank employees against each other.

Cyrus Mistry Takes his Words Back on Selling TCS to IBM

Cyrus Mistry Takes his Words Back on Selling TCS to IBM

Cyrus Mistry gave the explanation to his words. On Tuesday he stated Ratan Tata Ego puts the company in the risk, Tata wants to sell the company to the IBM, due to his egoistic mind he purchased Corus Company for highest rate. He also said due to his nature many employees are suffering.

Now Mistry takes his words back and giving the explanation that “I didn’t say about selling TCS to IBM, I said about Ratan Tata nominations, at that time some disturbances have arisen about nominations but I didn’t say anything rather than that.

These words became the sensation and finally reached to Tata. TCS first chief executive F.C. Kohli and former Tata Steel chairman Muthuraman has strongly responded on this issue.

Possible Reasons for Cyrus Mistry Shocking Removal From Tata Sons

Father of IT industry Kohli stated, “It is entirely fake news about selling TCS to IBM, Up to now we never thought about giving TCS”.  He also said there is no truth is words on Mistri. They established Tata IBM in 1991-92, its main aim is to encourage hardware in India but we never thought about

Muthuraman said “These are foolish statements reported by Mistry, we bought Corus Company after thinking about all issues, and I am really shocked about words of Cyrus Mistry.” He said he is really sad about statement of Mistri.