Benchmark indices lost over 2% last week despite mild recovery towards the fag-end, weighed down by weak global sentiments and fears of banking contagion in the us. IndusInd Bank lost nearly 11% and TCS was down 5%. Both companies were under pressure due to issues related to the management.
Chandra will continue to Remain a Mentor and Guide Rajesh Gopinathan, the outgoing CEO of TCS, said he would “continue to have a great relationship” with Tata Sons Chairman N Chandrasekaran. The board of Tata Consultancy Services (TCS) considered four internal candidates before choosing K Krithivasan for the top job.
Chandra will continue to Remain a Mentor and Guide Rajesh Gopinathan, the outgoing CEO of TCS, said he would “continue to have a great relationship” with Tata Sons Chairman N Chandrasekaran. The board of Tata Consultancy Services (TCS) considered four internal candidates before choosing K Krithivasan for the top job.
Rajesh Gopinathan says journey with TCS wonderful, there couldn't be a better time to move onHere are some highlights of what the outgoing CEO said: 'company wanted to bring new CEO with onset of a new financial year'
Key indices Nifty50 climbed over 100 points to trade above 17,100 levels. The S&P BSE Sensex advanced over 400 point to trade around 58,078. India VIX meanwhile slipped over 5 per cent.
BPEA EQT is in advanced negotiations to buy into Shriram Housing Finance Ltd, people familiar with the matter said. Tata Consultancy Services (TCS) is poised to close additional deals worth $1 billion with British retailer Marks & Spencer in the next few weeks.
The combined market valuation of seven of the top-10 most valued firms jumped Rs 1,07,224.82 crore last week. The 30-share BSE Sensex climbed 360.81 points or 0.60 per cent. TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank and HDFC were the gainers.
The combined market valuation of seven of the top-10 most valued firms jumped Rs 1,07,224.82 crore last week. The 30-share BSE Sensex climbed 360.81 points or 0.60 per cent. TCS, HDFC Bank, Infosys, Hindustan Unilever, ICICI Bank and HDFC were the gainers.
IT giants TCS and Infosys were the biggest gainers due to their Q3 earnings. The combined market cap of seven of the top 10 most valued firms jumped by 1,07,224.82 crore last week. This would be the most gain in market cap among others.
Nifty 50 index, TCS, BPCL and others hit their fresh 52-week highs today. Shopped at brick-and-mortar stores and eating out slowed down, analysts said.
The first flush is the context, but that's, you know, 10 per cent of the game. It's important to choose a field and stay with it for a period of time, he says. He said that when something new comes, the first right of leadership goes to somebody inside.
Tata Consultancy Services (TCS) reported 11% on-year growth in net profit for the third quarter of the financial year. An ET poll of analysts had expected the Mumbai-based company’s profits to expand by 12.5%.
Tata Consultancy Services (TCS) is well on its path to double its revenues to $50 billion by 2030. The company is at a “very advanced” level of discussions on its India business, suggesting it could be looking at an exit from the country soon.
This is the first time TCS is building an app for users and not corporates. The app would take a gamified approach to reduce anxiety and stress among users. Currently, the mental health app is undergoing clinical validation at a top Indian hospital. The IT giant is in talks with hospitals, insurance companies and enterprises to roll out the app.
TCS has made its quantum computing lab available on Amazon Web Services (AWS) for enterprise customers who want to use quantum computing and their applications to solve complex business problems. The Indian company said it will combine its “deep domain knowledge and “tech expertise with the power of qubits or quantum bits to help customers build solutions for risk evaluation, secure communication ecosystems, and predict customer behavior.
There is need for further reforms in the direct and indirect tax regimes, revenue secretary Tarun Bajaj said. A company, like an individual taxpayer, is also required to disclose its overseas financial interests, subsidiaries, and bank accounts in the annual I-T returns.
Nine of the top 10 valued firms together added Rs 79,798.3 crore in market valuation. The market valuation of TCS jumped Rs 17,215.83 crore to Rs 12,39,997.62 crore. It comes amid the layoffs announced by the IT companies recently.
Nine of the top 10 valued firms together added Rs 79,798.3 crore in market valuation last week. In the last week, the 30-share BSE Sensex climbed 630.16 points or 1 per cent. The market valuation of TCS jumped Rs 17,215.83 crore to Rs 12,39,997.62 crore.
Nine of the top 10 valued firms together added ₹79,798.3 crore in market valuation last week. With this, IT majors Tata Consultancy Services (TCS) and Infosys have emerged as the biggest winners. All the 10 most valued firms including Reliance Industries, HDFC Bank, ICICI Bank, and Hindustan Unilever Limited witnessed gains in their market valuation, except Adani Enterprises.
Nine of the top 10 valued firms together added Rs 79,798.3 crore in market valuation last week. In the last week, the 30-share BSE Sensex climbed 630.16 points or 1 percent. The market valuation of TCS jumped from Rs 17,215.83 crore to Rs 12,39,997.62 crore.
Domestic equity bourses closed in the red on Monday weighed down by heavyweights ITC, Reliance Industries, HDFC twins, TCS, and Tech Mahindra. Ten stocks close to their 52-week high in the previous session. The Sensex ended at 61,144, down 518 points, while the Nifty50 ended at 18,153, down 153 points.
Spot gold held its ground at $1,776.73 per ounce, as of 0300 GMT, after hitting its highest since Aug. 15 in the previous session. U.S. Gold futures rose 0.2% on Wednesday, while markets awaited more clarity surrounding reports of Russian missiles killing two people in Poland.
SGX Nifty futures were last down 0.2 percent or 41.5 points at 18,453. Shares of Bikaji Foods, Global Health, TCS, Wipro, Bharat Electronics among others will be in focus today. Dalal Street is expected to open in the red on Wednesday amid negative global cues.
The market valuation of nine of the top 10 most valued firms together added over ₹2.12 lakh crore last week. From these firms, HDFC Bank and TCS emerged as the lead gainers. The 30-share BSE benchmark jumped 844.68 points or 1.38 per cent. Hindustan Unilever Ltd was the only laggard.
NSE Nifty index rose 278.45 points to 18306.65 amid buying in frontline bluechip stocks. Shares of DCX.,, Varanium Cloud Ltd. And, hit their fresh 52-week highs at 10:24AM(IST) on NSE. TCS and TCS were among top gainers, while M&M, NTPC and BPCL traded in the red.
A recession in the us has historically been a positive thing for India, says Saurabh Mukherjea, founder of Marcellus Investment Managers. He said companies like TCS, Infosys and HCL Tech have been performing well and expects the upbeat performance to continue based on healthy results.
Tata Consultancy Services (TCS) is planning to go back to work from office by 2022. Employees are required to be physically present at work thrice a week. However, those who wish to fully work from home can do so by showing pertinent medical certificates.
The BSE Sensex closed at 57,991.11, down by 200.18 points or 0.34 per cent from the Friday closing level. The Nifty50 index settled at 17241, lower by 73 points. On the NASDAQ, the number of stocks that traded today 3729 was 165.
N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: “This was another quarter of excellent execution that saw us delivering several transformational projects like the largest migration of 2.3 million policies to our insurance platform in one go in the UK, or the trading platform at the Gift City.
Analysts expect companies in our coverage universe and Nifty earnings to post a 30 per cent year-on-year growth in the September quarter. The quarter results could bring in a moderate rise in top-line year on year and sequential basis, he said.
This week, participants will be eyeing macroeconomic data viz IIP, CPI and WPI. The week also marks the beginning of the earnings season with IT majors announcing their numbers along with two other heavyweights.
The combined market valuation of seven of the 10 most valued firms climbed Rs 1,01,043.69 crore last week. The 30-share BSE jumped 764.37 points or 1.33 per cent. The domestic equity were closed on Wednesday for Dussehra.
The combined market valuation of seven of the 10 most valued firms climbed Rs 1,01,043.69 crore last week. The 30-share BSE Sensex jumped 764.37 points or 1.33 per cent. The domestic equity markets were closed on Wednesday for Dussehra. TCS, HDFC Bank, ICICI Bank, Infosys, SBI, Bajaj Finance, Bharti Airtel and HDFC were the biggest gainers.
Shares fell nearly 5% on Monday, erasing Rs 55,471.22 crore out of its market worth. On the BSE, the stock fell 4.64 percent to close at Rs 3,113.25 per share. It decreased 4.87 percent over the day to Rs 3,105.85.
Six of the top-10 most valued firms suffered a combined erosion of Rs 2,00,280.75 crore from market valuation last week. The Sensex fell 952.35 points or 1.59 per cent. ICICI Bank, state bank of India, Adani Transmission and Bajaj Finance were the gainers.
Nifty futures on the Singapore Exchange traded 99 points, or 0.56 per cent higher at 17,729.5, signaling that Dalal Street was headed for a positive start on Thursday. About 10.8 million shares belonging to the Gangwal family have been listed for sale for Rs 1,996 crore. The company has set up over 450 charging facilities across more than 350 national highways, including one at the longest highway (NH 44)
The combined market valuation of three of the 10 most valued domestic firms fell by Rs 1,22,852.25 crore last week. Reliance Industries retained its numero uno position, followed by TCS, Hindustan Unilever, ICICI Bank, state bank of India, HDFC, Bajaj Finance and Adani Transmission.
IStockKEY HIGHLIGHTS TCS will pay the variable costs to its employees for the June quarter in august. The scheduled time for the payment was July, but there has been a delay.
Domestic benchmark index NSE Nifty ended 86.8 points up at 17577.5, while BSE Sensex closed 257.43 points up. Infosys, TCS,. HCL Tech and HUL were among the top losers of the day. On the other hand, M&M, and Agni Green.,Andand others touched their 52-week lows in today's trade.
Five of the top-10 valued firms together lost ₹30,737.51 crore in market valuation last week. In the holiday-shortened week, the Sensex advanced 183.37 points or 0.30 per cent. Reliance Industries remained the most valued company, followed by TCS, Infosys, Hindustan Unilever, HDFC, and HDFC.
Five of the top-10 valued firms together lost Rs 30,737.51 crore in market valuation last week. In the holiday-shortened week, the Sensex advanced 183.37 points or 0.30 per cent. Reliance Industries remained the most valued company, followed by TCS, HDFC Bank, Infosys and Hindustan Unilever.
India’s largest software company plans to tap business opportunities in the private telecom space with indigenous next-gen technology. The indigenous stack integrated with the BSNL network is world-class, robust and conform to the approved global standards. It will pit the software major against multinational vendors such as Finnish Nokia and Swedish Ericsson.
Sensex and Nifty gave up early gains to close lower for a fourth straight session. HCL Technologies, State Bank of India, Tech Mahindra, TCS, Wipro, UltraTech Cement, and ITC were the major laggards. Investors are increasingly expecting the Fed to carry out a minimum 75bps rate hike this month.
Shares of India's largest IT services firm Tata Consultancy Services (TCS) fell over 4.7 per cent in the morning trade on Monday. The company missed its quarterly profit estimates by a wide margin as employee-related expenses soared. The annual wage hikes and promotions took operating profit margins to multi-quarter lows.
The Nifty IT index was down over 3 per cent after Tata Consultancy Services (TCS) reported 185 basis points (bps) sequential decline in earnings before interest and tax (EBIT) EBIT margins to 23.1 per cent for the quarter ended June 2022 (Q1 FY23)
At 9:20 am, the S&P BSE Sensex was down 242.12 points (0.44 per cent) at 54,239.72 while the Nifty 50 was trading at 16,155.80. Among the Sensex stocks, Bharti Airtel, TCS, Tech Mahindra, Wipro, HCL Technologies and Infosys were the top laggards in early trade.
TCS missed analysts’ estimates in its quarterly earnings ending June 30, 2022 (Q1 FY23) period. It reported a 5.21 per cent year-on-year (YoY) rise in consolidated net profit at Rs 9,478 crore in the June quarter.
Nifty futures on the Singapore Exchange traded 20 points, or 0.12 per cent lower at 16,207.5, signaling that Dalal Street was headed for a positive start on Monday. The BSE Sensex climbed 303 points to 54,482, while the Nifty50 gained 88 points to 16,221 in the previous session.
TCS' UK business was down 3.3 per cent sequentially and Continental business was 0.7 per cent. UK business grew by 12.6 per cent on a year-on-year basis, but Continental grew 12.1 per cent in same period. Company indicated that clients in Europe are more cautious on tech spends given the slowdown.
TCS CEO Rajesh Gopinathan said that for the time being the company -will promote the return to office more until it gets to pre-pandemic levels or at least 80 per cent. TCS had in April 2020 announced its 25/25 model. Under this, only 25 percent of its associates will need to work out of facilities at any point of time.
TCS posted a 5.2% growth in net profit in the June quarter of FY23 at Rs 9,478 crore. North America led with a 19.1 per cent growth, continental Europe grew 12.1% and the UK by 12.6%. In emerging markets, India grew 20.8%, Asia Pacific by 6.2%, Latin America 21.6 by 21.
For the Q1 of FY23, the company reported an rate of 19.7 per cent. The management said the high number was partly due to the seasonality impact when junior employees opt for higher studies as well as supply-side constraints. Management added that will see some moderation only in the second half of this financial year.
Revenue for the quarter came in at Rs 52,758 crore, up 16.2 per cent YoY and 4.28 per cent sequentially. Amnesty International and its former CEO Aakar Patel have been slapped with penalty of Rs 51.72 crore and Rs 10 crore respectively.
India’s largest IT services company Tata Consultancy Services (TCS) on Friday declared an interim dividend of Rs 8 per equity share. The company also said its earnings per share also increased to Rs 25.9 in the June 2022 quarter, from Rs 24.35 a year ago. The record date for this is July 16 and the payment date as August 3.
India’s largest IT services firm Tata Consultancy Services (TCS) reported a 5.2 per cent year-on-year rise in consolidated net profit to Rs 9,478 crore for the first quarter ended June 30. TCS has declared an interim dividend of Rs 8 per equity share of Re 1 each. Chief Executive Officer Rajesh Gopinathan said: “We are starting the new fiscal year on a strong note"
The country's largest software services firm, Tata Consultancy Services (TCS) reported a 5.2 per cent rise in consolidated net profit to Rs 9,478 crore for the July 2022 quarter. This is against a net profit of £ 9,008 crore in the year-ago period, said in a regulatory filing. The company's board recommended a final dividend of Rs 8 per equity share for Q41Y23.
BSE Sensex jumped over 300 points, NSE Nifty 50 climbed above 16,200. Metal and realty were the only sectors to end lower. L&T, Power Grid, NTPC, ICICI Bank and Axis Bank were the top achievers. Tata Steel, IndusInd Bank, Maruti, Tata Consultancy Services (TCS) and Wipro were the biggest draggers.
India’s largest IT services company Tata Consultancy Services (TCS) reported a consolidated net profit of Rs 9,478 crore for the June 2022 quarter. Revenue during April-June 2022 rose 16.2 per cent to Rs 52,758 crore as compared with the year-ago period.
IT bellwether Tata Consultancy Services (TCS) will consider an interim dividend payout to the equity shareholders along with its April-June 2022 earnings on Friday. The IT major is seen reporting a double-digit rise in year-on-year profit on over a 15 per cent rise in revenues.
