This is a rare voice of optimism as the general view is that IT companies will face tremendous disruption and revenue contraction.
TCS would buy back over 7.6 crore shares at a price of Rs 2,100 each.
The company has been growing faster than Indian IT companies on a larger base — $ 10.3 billion in quarterly revenues. Its digital services now account for 60% of revenue.
Indian IT companies have been focusing on Europe to reduce their US dependence, where protectionist economic policies and slower spending by large banks is putting a crimp on growth.
The IT major was the first to explicitly name Trump as a risk factor. In its latest filing, however, it has cited global political environment as a major risk.
Neemuchwala’s compensation included Rs 6.2 crore in gross salary, Rs 10.2 crore in stock options and Rs 1.71 crore in variable pay and Rs 30 lakhs in retirals.
Genesys has been focused on growing its management ranks help boost revenue. The company has clients USA, Europe, New Zealand, UAE and India.
About 35% of Intelenet's revenue comes from the domestic business and the Mumbai-headquartered co. had been bringing in senior talent from rivals to boost their business.
TCS had bought back about Rs 16,000 crore of shares last year as well.
Mehta will also be awarded $9 million in restricted stock units that will vest in 12 successive equal quarterly instalments beginning August 1 and ending May 1 2021.
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