Resilience at It s Best
Over the last year, Indian IT companies have struck some of their biggest deals ever, and have stayed resilient amid testing circumstances
Illustration by Raj Verma
It was probably the most traumatic year for the company, because we had grown in size, Kris Gopalakrishnan, Chairman, Itihaasa Research and Digital and Co-founder, Infosys, spoke about the global financial crisis that broke out soon after he took over as Infosys CEO in 2007, in a video posted on Itihaasa. Everything was going fine and that year we grew by about 35 per cent. Then, suddenly the world around us collapsed. In the following two fiscals, Infosys grew at 11 per cent (FY09) and 3 per cent (FY10). After three years of slow growth, the company recovered in FY11 with 26 per cent annual revenue growth.
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Shares of Tata Consultancy Services (TCS) traded 1.5 per cent lower at Rs 3,273 on the BSE on Monday, outperforming the market, ahead of its January-March 2021 (Q4FY21) results today. In comparison, the S&P BSE Sensex was down 3.55 per cent or 1,758 points at 47,833, at 1:25 PM. The stock hit an intra-day high of Rs 3,344 and a low of Rs 3,241 on the BSE.
In the past one month, shares of the information technology (IT) giant rose 7 per cent, as compared to 5.7 per cent slide in the benchmark index. However, in the last six months, it has underperformed the market by gaining 16 per cent, against 18 per cent surge in the Sensex.