TCS

Feb 20 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• LAUNCHES THREE INITIATIVES UNDER SALESFORCE COLLABORATION

• TCS PARTNERS WITH SALESFORCE

Source text: ID:nNSE7DdFKJ

Further company coverage: TCS.NS

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Feb 19 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS COLLABORATES WITH MASSROBOTICS IN NORTH AMERICA

• TO DEPLOY A TEAM AT MASSROBOTICS’ BOSTON FACILITY

Source text: [ID:]

Further company coverage: TCS.NS

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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

By Shritama Bose

MUMBAI, Feb 11 (Reuters Breakingviews) - India is pulling out all the stops to be on Donald Trump's good side. The country has already made tariff concessions and fielded a planeload of deported immigrants ahead of Prime Minister Narendra Modi's visit to meet the U.S. President at the White House. But it is migration, not trade, that will be the sticking point in bilateral relations.

Narrowing India's $35 billion trade surplus with the United States should be manageable. Earlier this month, New Delhi undertook wide-ranging cuts to duties on American imports from Harley Davidson HOG.N motorcycles to components used by Apple AAPL.O to build smartphones. The country can also pledge to buy more American weapons and oil. Shipments of the latter amounted to $5 billion, or just 4% of bilateral trade, in the year to March 2024.

What Modi can offer on migration is far less straightforward. Trump has vowed to deport millions of illegal workers in the country and as of 2022, India was the third-largest source of undocumented immigrants in the U.S. behind Mexico and El Salvador, per data from Pew Research Center.

The country also supplies a huge chunk of legal skilled workers: India accounts for 72% of so-called H-1B visas, which allow companies from Amazon AMZN.O to Alphabet GOOGL.O, as well as Indian giants like Tata Consultancy Services TCS.NS, to hire specialised overseas workers such as software engineers. The programme benefits both sides: Big Tech gets access to lower-cost talent while India's skilled labour can find employment. But visa issuances have shrunk in recent years and the programme is getting an intense backlash from some of Trump's supporters.

A possible deal could see Modi agree to accept deported Indians back into the country without fuss in exchange for U.S. officials to speed up H-1B visas. But a repeat of the spectacle this month of hundreds of handcuffed people alighting from a U.S. military plane would be politically embarrassing, and shines an ugly spotlight on India's lack of high-quality jobs.

The problem for Modi, though, is that he has a weak hand with Trump with the fortunes of India's top tycoons hanging in the balance. Infrastructure magnate Gautam Adani is battling fraud charges levelled by U.S. federal investigators and the Securities and Exchange Commission, which his Adani group denies. The White House can also squeeze access to cheap Russian oil that helps India to keep inflation low, and which its largest company, Mukesh Ambani's Reliance Industries RELI.NS, is processing, or punish India with tariffs for pushing trade transactions in non-dollar currencies. A lot rides on Modi's U.S. charm offensive.

Follow @ShritamaBose on X.

CONTEXT NEWS

U.S. President Donald Trump has invited Indian Prime Minister Narendra Modi to visit the White House during February 12-14, Reuters reported on February 4, citing an unnamed White House official.

Separately, India slashed custom duties on motorcycles, such as those from Harley Davidson, with engine capacity of 1,600 cc or more, to 30% from 50% on fully built imports in the government’s annual budget announced on February 1. New Delhi also cut average tariffs to 11% from 13%, Finance Secretary Tuhin Kanta Pandey told Reuters in an interview after the budget.

(Editing by Robyn Mak and Ujjaini Dutta)

((For previous columns by the author, Reuters customers can click on BOSE/[email protected]))

MUMBAI, Feb 10 (Reuters) - The increasing use of generative artificial intelligence (GenAI) could boost the productivity of India's $254-billion software by 43%-45% over the next five years, according to a survey by consulting firm EY India.

This productivity boost, which EY India's survey states will span 500 roles, will come through the dual effect of the IT industry itself integrating elements of GenAI internally and as more client projects move from proof of concept to production.

Top IT companies such as Tata Consultancy Services TCS.NS and Infosys INFY.NS have highlighted the use of AI by clients to do new projects and EY India said 89% of them have started trialling GenAI projects, with 33% of those already in production.

"Enterprises are moving beyond experimentation to putting AI into production at scale. The rapid transition from POC to enterprise-wide adoption reflects the industry's confidence in AI's potential," Abhinav Johri, a technology consulting partner at EY India, said in a statement.

Within the sprawling IT industry, EY India's survey showed that roles in software development will get the biggest productivity boost, of roughly 60%, followed by a 52% improvement for BPO services and 47% for IT consulting.

This trio -- software development, BPO services and IT consulting -- will account for 50%-60% of the overall productivity improvement in tech services, the survey showed.

The increasing use of AI is not only helping the IT industry enhance customer service but is also lowering costs and improving revenue growth, according to executives surveyed by EY India.

(Reporting by Haripriya Suresh; Editing by Savio D'Souza)

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Adds details, executive comment in paragraph 3,4

Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.

Persistent high capital costs continue to strain IT spending, prompting enterprises to rethink spending on consultancy services while prioritizing investments in AI-related projects.

Still, an increase in spending by clients in the financial services sector helped Cognizant win more large deals in the fourth quarter than a year earlier, powering its quarterly revenue above Wall Street expectations.

"In North America, we are seeing an improved pipeline of opportunities for transformation and modernization projects across both insurance and select ADRs of banking and financial services clients," finance chief Jatin Dalal said.

The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.

Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with analysts' average estimate of $1.12 per share.

The New Jersey-based company said it expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared with analysts' average estimate of $5.06 billion.

Cognizant expects its 2025 revenue to be between $20.30 billion and $20.80 billion, lower than estimates of $20.89 billion compiled by LSEG.

It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with analysts' average estimate of $4.99 per share.

(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)

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Feb 5 (Reuters) - Cognizant Technology Solutions CTSH.O forecast annual revenue below estimates on Wednesday, as uncertainty about the path of future interest rate cuts forces companies to temper spending on IT services and consultancy.

Persistent high capital costs continue to strain IT spending, prompting enterprises to cut back on consultancy services while prioritizing investments in AI-related projects.

Cognizant's shares fell 1.2% in extended trading.

Uncertainty around rate cuts by the U.S. Federal Reserve this year is exacerbated by President Donald Trump's changes to immigration policies, tariffs and other initiatives, forcing companies to limit spending.

The company's fourth-quarter revenue stood at $5.08 billion, compared to analysts' expectations of $5.07 billion, according to data compiled by LSEG.

Cognizant's adjusted profit came in at $1.21 per share in the quarter ended December 31, compared with estimates of $1.12 per share.

The New Jersey-based company expects first-quarter revenue in the range of $5 billion to $5.1 billion, compared to analysts' estimates of $5.06 billion.

Cognizant expects its 2025 revenue to be between $20.3 billion and $20.8 billion, lower than estimates of $20.89 billion.

It projected 2025 adjusted earnings between $4.90 per share and $5.06 per share. The midpoint of the forecast is $4.98 per share, compared with estimates of $4.99 per share.

(Reporting by Priyanka.G and Akash Sriram in Bengaluru; Editing by Mohammed Safi Shamsi)

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Jan 20 (Reuters) - Wipro's shares WIPR.NS surged about 8% on Monday, set for their best day in nearly four years, after India's No. 4 IT services company joined its peers in signaling a revival in demand.

The company beat third-quarter revenue and profit estimates on Friday and CEO Srinivas Pallia said, "We see discretionary spending slowly coming back" after facing macroeconomic challenges in 2024.

Wipro's shares were also among the top percentage gainers on the benchmark Nifty 50 .NSEI index, which was trading flat. At least eight brokerages raised their rating on Wipro's stock, while 16 raised their price targets, as per LSEG data.

"Wipro is witnessing a pick up in discretionary spends in its BFSI (banking, financial services and insurance) segment - evident from 11% y/y growth in revenue," Jefferies analysts said in a note, raising both their rating and price target.

The BFSI segment accounts for about a third of the company's revenue.

Wipro's bet of a more promising 2025 echoed similar indications from larger peers TCS TCS.NS, Infosys INFY.NS and HCLTech HCLT.NS.

India's $254 billion IT services sector has faced sluggish growth for several quarters due to global macroeconomic uncertainties and inflationary pressures, which have pushed clients to rein in spending.

($1 = 86.4390 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Savio D'Souza)

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Adds details on forecast, analyst comment, background on peers

By Indranil Sarkar and Manvi Pant

Jan 17 (Reuters) - Shares of India's No. 2 software services exporter Infosys INFY.NS fell nearly 6% on Friday and were set for their biggest one-day decline since July 2023, as analysts raised concerns about the quality of earnings following its third-quarter report.

The stock was down 5.7% as of 11:49 a.m. IST, and was the top drag on the IT index .NIFTYIT and the benchmark Nifty 50 .NSEI, which declined 2.5% and 0.7% respectively.

Its U.S.-listed shares INFY.N fell about 6% overnight.

Infosys on Thursday raised its annual revenue forecast for the third time this financial year as its U.S. banking and retail clients warmed up to spending more on discretionary projects, echoing Tata Consultancy Services TCS.NS and HCLTech HCLT.NS.

However, analysts were concerned about the "quality" of the earnings report, which overshadowed the outlook.

The revenue growth was driven by a higher component of "third-party items" in Infosys' deal pipeline, "which drove concerns around the quality of the beat and raise", Morgan Stanley analysts said in a note.

"Given that the commentary on small deals pipeline is not showing any meaningful signs of inflection, we now assume the (industry-wide) recovery to be more gradual than before," they said.

Small deals comprise more than two-thirds of the company's total deal intake, according to BofA Global Research.

Markets are awaiting further evidence of uptick in discretionary spending, not just commentary from IT companies, said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

Infosys shares gained 22.5% in 2024, outperforming TCS and LTIMindtree LTIM.NS, but trailed behind HCLTech, which rose 31%.

(Reporting by Indranil Sarkar and Manvi Pant in Bengaluru, additional reporting by Anuran Sadhu; Editing by Mrigank Dhaniwala and Varun H K)

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BENGALURU, Jan 16 (Reuters) - Infosys INFY.NS, India's second-largest IT services provider, reported better-than-expected third-quarter revenue on Thursday, aided by a pickup in demand in its banking and financial services vertical.

Revenue rose 7.6% to 417.64 billion rupees ($4.83 billion) in the October-December period, surpassing average analysts' estimate of 412.78 billion rupees, according to data compiled by LSEG.

Infosys revised its revenue growth forecast upwards to 4.5%-5%, from 3.75%-4.5%.

($1 = 86.5510 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Savio D'Souza)

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By Sai Ishwarbharath B and Haripriya Suresh

BENGALURU/MUMBAI, Jan 12 (Reuters) - India's Tata Consultancy Services TCS.NS expects its retail and manufacturing clients in North America to step up spending on tech, following a similar upturn in its banking and financial services segment, a top executive of the nation's No. 1 software-services exporter, said.

"We have heard about good holiday season sales (in the U.S.) that should boost consumer sentiment and manufacturing has some of the labour issues behind them," CFO Samir Seksaria told Reuters.

"If these three verticals (along with banking) improve overall, we should see a good recovery," he said.

Seksaria's cautious optimism highlights broader global economic uncertainties and sticky inflation that have forced clients to keep a leash on tech spending.

The company's revenue in North America, its largest market, declined for the fifth consecutive quarter even as banking and financial services posted their best performance since June 2023.

Retail and manufacturing are the second- and fourth- largest revenue contributors to the $29 billion behemoth.

Last month, Walmart Inc WMT.N, Amazon.com AMZN.O, and fast-growing e-commerce sites Shein and PDD Holding's PDD.O Temu, saw record-breaking sales on Black Friday and Cyber Monday.

U.S. online spending too rose nearly 9% to $241.4 billion during the recent holiday season.

TCS' communications and media vertical, a capital-intensive segment that is currently one of the company's laggards, will also see some pickup if interest rates start to go down, Seksaria said.

The comments echo CEO Krithivasan's sentiment that the incoming U.S. administration is likely to remove policy uncertainty and boost client confidence to spend on discretionary projects.

On Friday, its Mumbai-listed shares closed up 5.6%, its highest single day rise since July 2024.

TCS also played down concerns over the rise in insourcing by multinational corporations through global capability centres (GCCs), potentially slashing work that would have been contracted to IT players in the past.

A growing number of global companies are increasing their local offices in India and expanding in-house teams, adding roles such as engineering, cybersecurity and accounting and finance. India's GCC market size is estimated to reach $105 billion by 2030.

"Initially, there could a cost advantage, probably GCCs are right now being seen as global cost saving centers. But as things go into next year, maintaining cost and delivering cost productivity in a 3-year to 7-year period is where the cyclicality of opening and shutting of GCCs keeps coming," said Seksaria.

In 2023, Infosys INFY.NS acquired the captive arm of Danske Bank DANSEN.UL and before that TCS acquired Post Bank AG's unit of 1,500 employees in late 2020.

(Reporting by Sai Ishwarbharath B in Bengaluru and Haripriya Suresh in Mumbai.
Editing by Dhanya Skariachan and Shri Navaratnam)

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Updates for markets open

Jan 10 (Reuters) - Indian bluechip indexes opened higher on Friday, bolstered by IT stocks after sector-leader TCS flagged early signs of demand revival, but the rest of the market remained under pressure on worries about corporate earnings.

The Nifty 50 .NSEI rose 0.21% to 23,572 points as of 9:18 a.m. IST, while the BSE Sensex .BSESN was up 0.22% to 77,790.49.

Tata Consultancy Services TCS.NS rose 4.3%, the most on the Nifty and lifting IT stocks .NIFTYIT 2.6%, after the company said it expects a revival in client confidence and discretionary spending in North America, a key market for IT companies.

However, the 12 other major sectors logged losses at the open. Even the broader, more domestically focussed smallcaps .NIFSMCP100 and midcaps .NIFMDCP100 lost about 0.6% each.

The market has been under pressure this week due to sustained foreign outflows amid fears of a slowdown in corporate earnings as well as the rising potential for fewer U.S. rate cuts, which makes emerging markets a less attractive investment.

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Savio D'Souza)

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Jan 9 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• INDIA'S TCS EXEC: SEEING CONTINUED MOMENTUM IN AI ADOPTION

• TCS EXEC: TCV NUMBERS GIVE CONFIDENCE FOR MEDIUM TERM

• TCS EXEC: SEEING IMPROVEMENT IN SENTIMENT FOR DISCRETIONARY SPENDS

• TCS EXEC: ORDER PIPELINE CONTINUES TO REMAIN STRONG

• TCS EXEC: AI WILL CREATE NEW JOBS, BUT SOME JOB PROFILES WILL CHANGE

• TCS EXEC: EXPECT MORE CLARITY IN SPENDING IN HEALTHCARE AND MANUFACTURING SECTORS

• TCS EXEC: SEE CY25 TO BE BETTER THAN LAST YEAR

• TCS EXEC: ON TRACK FOR HIRING 40,000 PEOPLE FROM CAMPUS THIS FISCAL YEAR

• TCS EXEC: DISCRETIONARY SPEND LIKELY TO INCREASE

• TCS EXEC: BULLISH ON REGIONAL MARKET

• TCS EXEC: DEPENDENCE ON H-1B VISA IS LIMITED

• TCS EXEC: NEW U.S. ADMINISTRATION WILL REMOVE ANY UNCERTAINTY, LACK OF DIRECTION WILL BE REMOVED

Source text: [ID:]

Further company coverage: TCS.NS

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Dec 27 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TATA CONSULTANCY SERVICES LTD - RECEIVES ORDER FROM JOINT COMMISSIONER, CGST NOIDA

• TATA CONSULTANCY SERVICES LTD - ORDER DEMANDS TAX AND PENALTY OF 13.8 MILLION RUPEES

• TATA CONSULTANCY SERVICES LTD - TO APPEAL AGAINST THE ORDER

Source text: ID:nBSE5gkBTp

Further company coverage: TCS.NS

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Dec 20 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS AFRICA TO SELL 30% STAKE IN TCS SA

• DEAL FOR ZAR 60.8 MILLION

Source text: ID:nNSE7lPVgQ

Further company coverage: TCS.NS

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** Tata Consultancy Services TCS.NS falls 1.4% to 4,411 rupees; second-biggest pct loser on IT index .NIFTYIT, which is down 0.5%

** Citi maintains "sell" - CNBC-TV18 report

** Brokerage says co's project with BSNL BSNL.NS to deploy 4G network across India will be stable or slightly decline in Q3 and taper off post that

** Adds UK and Europe markets have softer demand vs US

** PT of 3,935 rupees represents ~11% downside to current price

** TCS, rival Infosys INFY.NS rated "buy" on avg - LSEG

** Stock climbs 17.3% YTD vs NIFTYIT's ~29% gain

($1 = 84.8380 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

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Dec 13 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS - PARTNERS WITH LANDIS+GYR TO DELIVER NEXT-GENERATION ENERGY EFFICIENCY SOLUTIONS

Source text: [ID:]

Further company coverage: TCS.NS

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Dec 3 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS - TCS INKS DEAL WITH BANK OF BHUTAN

• TCS - TCS INKS DEAL WITH BANK OF BHUTAN TO MODERNIZE DIGITAL CORE, ENHANCE CUSTOMER EXPERIENCE

Source text: [ID:]

Further company coverage: TCS.NS

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Nov 28 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS PARTNERS WITH IIT KGP

Source text: [ID:]

Further company coverage: TCS.NS

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Rewrites with updates on details and background, adds final shares in paragraph 5 and analyst reaction

By Himanshi Akhand and Rishav Chatterjee

Nov 26 (Reuters) - The Australian Securities Exchange (ASX) said on Tuesday that the second phase of an upgrade to its clearing and settlement software will likely cost up to A$320 million ($208 million), sending its shares sharply lower.

Announcing the cost estimate for the first time, the bourse operator added that it expects the second phase implementation to be completed by 2029.

ASX ASX.AX also aims to conclude the first phase - the clearing service - in 2026, with associated costs now tracking at the higher end of its previous estimate of A$105 million to A$125 million.

While the timeline seems reasonably extended, the phase 1 costs are now tracking at the top end of expectations and this pushes capital expenditure towards the top end of ASX’s prior guidance range, Citi analysts said.

ASX shares fell 4.7% to A$65.87 in its weakest trading session since mid-June.

The update on the software overhaul comes months after the Australian Securities and Investments Commission sued ASX, alleging it misled investors about the failure to upgrade its critical settlement and clearing infrastructure, known as CHESS.

The share market operator hired India's Tata Consultancy Services (TCS) last year to overhaul CHESS, after abandoning a widely criticised effort to upgrade it to a blockchain-based system.

That effort raised the ire of shareholders and regulators, and ultimately ended with a A$250 million write-down and slump in the bourse operator's share price.

ASX will deploy a TCS TCS.NS product that is already being used to manage share settlement and clearing in New Zealand, South Africa and Finland.

ASX Managing Director and CEO Helen Lofthouse said implementing the CHESS project over two releases would enhance its reliability.

The bourse operator's decision to undertake complex IT projects means its prime focus will likely remain on appeasing regulators and various stakeholders, with investors further down the pecking order, Citi analysts said.

($1 = 1.5408 Australian dollars)

(Reporting by Himanshi Akhand and Rishav Chatterjee in Bengaluru; Editing by Mohammed Safi Shamsi, Rashmi Aich and Nicholas Yong)

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Nov 11 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• GETS ORDER FROM COMMISSIONER OF CUSTOMS WITH PENALTY OF 5 MILLION RUPEES

Source text: ID:nNSE7BdV00

Further company coverage: TCS.NS

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Oct 24 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS - TCS LAUNCHES NVIDIA BUSINESS UNIT

• TCS - TCS LAUNCHES NVIDIA BUSINESS TO ACCELERATE AI ADOPTION FOR CUSTOMERS ACROSS INDUSTRIES

Further company coverage: TCS.NS

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Oct 17 (Reuters) - Wipro WIPR.NS, India's fourth-largest software company, posted higher-than-expected second-quarter revenue on Thursday, helped by a revival in spending by its clients in the U.S. communications sector.

The company's consolidated revenue fell 1% to 223.02 billion rupees ($2.65 billion) in the July-September quarter, but was above analysts average estimate of 222.58 billion rupees, as per LSEG data.

($1 = 84.0340 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Savio D'Souza)

(([email protected];))

** HCLTech HCLT.NS hits record high on Q2 beat-and-raise report before paring gains to 0.1%; IT index .NIFTYIT flat

** Guidance hike and deal flow declines "do not enthuse on a sharp recovery"; growth should stay below pre-Covid levels, says Ashwin Mehta, head of equity research at Ambit Capital, who keeps "sell" on HCLT

** Still, India's No.3 IT firm's growth will outpace that of market leaders TCS TCS.NS and Infosys INFY.NS, Mehta expects

** Adds, while HCLT's EBIT margins will not rise, contrary to Street expectations, they'll be stable vs declines at TCS, INFY

** Mehta among top 3 rated analysts covering IT firms, per LSEG data

** Mehta's pecking order: Tech Mahindra TEML.NS ('buy') > Cognizant CTSH.O > HCLT > INFY > TCS > Wipro WIPR.NS ('sell's)

** Analysts, on avg, rate HCLT 'hold' - LSEG data

** HCLT has gained 27% YTD, fourth-most on 10-member IT index, which is up ~21% YTD

(Reporting by Savio Dsouza)

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Repeats to widen distribution, with no changes to text

Oct 11 (Reuters) - Shares of Tata Consultancy Services TCS.NS fell 2% in pre-open trade on Friday, as a lower-than-expected second-quarter profit raised concerns about demand recovery in the IT services firm's key North American market.

The company on Thursday reported net profit of 119.09 billion rupees ($1.42 billion), missing analysts' estimates as revenue from the North American market, which accounts for nearly half of its overall sales fell for a fourth straight quarter.

Its revenue decline in North America was led by client specific issues in life sciences and healthcare, while weakness persisted in manufacturing as its clients battled supply chain issues, said analysts at Investec.

($1 = 83.9625 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru; Editing by Varun H K)

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BENGALURU, Oct 10 (Reuters) - Tata Consultancy Services TCS.NS, India's top IT services company, reported a bigger-than-expected second-quarter revenue on Thursday on realisations from large deals bagged in the previous quarters.

The company's consolidated revenue rose 7.7% to 642.59 billion rupees ($7.66 billion) in the September quarter.

Analysts, on average, expected revenue of 640.93 billion rupees, as per LSEG data.

($1 = 83.9420 Indian rupees)

(Reporting by Sai Ishwarbharath B; Editing by Janane Venkatraman)

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Oct 9 (Reuters) -

• CHAIRMAN EMERITUS OF INDIA'S TATA GROUP RATAN TATA IN CRITICAL CONDITION IN INTENSIVE CARE IN MUMBAI HOSPITAL- SOURCES

Source text for Eikon: [ID:]

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MUMBAI, Oct 7 (Reuters) - Ratan Tata, chairman emeritus of Indian conglomerate Tata Group, said on Monday that he was undergoing age-related medical investigations and that rumours circulating about his health were unfounded.

"There is no cause for concern. I remain in good spirits," Tata, 86, said in posts on social media and in a statement released on his behalf.

(Reporting by Shilpa Jamkhandikar; Editing by YP Rajesh)

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Sept 20 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS EXPANDS OPERATIONS IN POLAND, OPENS NEW GLOBAL DELIVERY CENTRE IN WARSAW

• WITH NEW DELIVERY CENTRE, TCS EXPECTS TO DOUBLE ITS WORKFORCE TO 1200-PLUS IN A YEAR

• EXPECTS TO DOUBLE ITS WORKFORCE TO 1200-PLUS IN A YEAR IN THE REGION

Further company coverage: TCS.NS

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Sept 18 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• TCS - TCS SIGNS DEAL WITH MCDONALD'S PHILIPPINES

• TCS - DEAL TO MODERNIZE IT LANDSCAPE FOR ITS 760+ RESTAURANTS

Further company coverage: TCS.NS

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Sept 16 (Reuters) - Tata Consultancy Services Ltd TCS.NS:

• GETS TAX PENALTY OF 98.6 MILLION RUPEES

Source text for Eikon: ID:nBSE50664B

Further company coverage: TCS.NS

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