This makes TCS the first IT company in India to announce salary hikes for the upcoming fiscal.
As per a PTI report, when contacted, a TCS spokesperson confirmed that the company is on track to give increments to all associates across geographies effective April 2021, in line with its benchmarks.
It is being known that TCS' salary hike will benefit over 4.7 lakh employees of the IT-major.
Furthermore, between 6-7% average increment band is expected for offshore employees.
Notably, such would be the second salary hike by TCS within six months.
The company is set to announce its fourth-quarter financial performance for FY21 (Q4FY21) anytime in April 2021. The salary hike details can be expected during the result announcement.
At around 10.45 am, TCS was trading at Rs3060.35 per piece flat compared to the previous closing on Sensex.
The stock has touched an intraday high and low of Rs3074 per piece and Rs3018.05 per piece respectively in early trading hours.