Infy praised at TCS meet
By Ria Basu

This is cute. If only I had one TCS share, I could have attended the share holders meeting.  In fact, I will buy a few TCS shares to ensure that I do not miss out on the public spectacle the next time.

TCS is our biggest tech company with Infosys moving in to challenge the king. 

DNA is reporting that at the 14th annual general meeting of TCS Shareholders, the shareholders were singing the praises of bitter rival Infosys.  The TCS shareholders also asked Chairman Ratan Tata and CEO S Ramadorai to adopt the Bangalore firm’s pioneering ways.

The DNA report reads in part:

“
Mumbai: Shareholder after shareholder sung paeans to Tata Consultancy Services' (TCS) gesture of bonus and solid dividend payouts despite the current slowdown.

While that may not be disliked by TCS chairman Ratan Tata and chief executive officer S Ramadorai, there was palpable discomfiture when the company was repeatedly compared with immediate rival Infosys Technologies.

Drawing a parallel, Shailesh Parikh, a TCS investor, said, "Compared with Infosys, TCS' free float of shares is much less. This is why the market capitalisation of the firm is less than Infosys'. Besides, with less free-float speculative movement in price is reduced."

Even there, M Agnihotri, another shareholder, brought in Infosys: "Infosys is much younger than our firm. But our earnings (earning per share) is Rs 47, while Infosys' is about Rs 100. Is there any problem with the way our finances are done? I would like to know are we overspending? Ours is a giant company, we have the name of Tata, and we have Ramadorai's leadership. So, where are we going wrong?".

M I Parikh, yet another shareholder, asked the board to deploy video conferencing facility while conducting the AGM so that other shareholders in different locations can also participate, "exactly the way Infosys conducts its AGM through video conferencing".

There was no escape.
“

The TCS CEO must be wondering: “With shareholders like these,  who needs enemies?”.