Under Tata Sons’ ambit fall India’s leading IT and telecom firms which strengthen the case for inducting the next chairman with the IT or tech background. Will he be N Chandrasekaran, CEO and MD, TCS? Time will only tell.
Cyrus Mistry who had clinched the reins of Tata Sons four years back from Ratan Tata is suddenly out of the company. The magnanimity is well-understood in the shockwaves his exit sent to the market. For Dataquest, it becomes utterly important to understand the dynamics of his exit as the group owns India’s biggest IT services firm - Tata Consultancy Services (TCS). Without taking rumor mills and speculations in consideration, it is important to gauge into the implications which this move will have.
Will this exit force the market to redefine the rules of Indian IT? Well, it can. This has already brought to the fore concerns regarding the future of IT companies which fall under the Tata Sons’ ambit. Among them, TCS is one of the biggest companies which the group owns and from which it gets significant revenues as its annual turnover is close to $17 bn. TCS has a market capitalization of Rs 4,78,390 cr.REASSESSING THE IMPACT OF THE FIASCO
Cyrus fiasco is certainly going to influence the IT and telecom firms which the group currently has. For years, the group has heavily relied for growth on the IT and telecom sector. However, the ride has been all hunky dory, because its investment in the telecom has not paid-off well. It is highly unlikely that the next chairman may have the backing of IT companies under the group. Before speculating the name of the next chairman, let us have a look at some of the known IT companies which Tata Sons own:
TCS: It has worldwide operations and is one of the leading IT services companies globally.
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