Trading sentiment in the equity markets this week will be guided by global cues, Covid-19 trends and quarterly earnings by market heavyweight TCS, analysts said. Investors will also monitor movement of rupee and crude oil as well as progress of monsoon, they added.
TCS was recognised as a leader in all the categories, namely overall, efficiency, consulting, transformation and digital focus
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Selling in index heavyweights, including Infosys, TCS, ICICI Bank and Reliance Industries, dragged the benchmark indices into the negative for the second straight session, analysts said. Among the Sensex shares, Asian Paints fell the most by 3.9 per cent as analysts expressed concerns over rising competition in the domestic paints market following the entry of Aditya Birla group company Grasim Industries into the paints segment. IT shares Infosys, TCS, HCL Tech, Wipro and Tech Mahindra continued to slide amid inflation concerns in the US market.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
Even after the recent developments at Infosys, both companies are expected to deliver similar revenue growth in FY17
Certain changes in the past two or three years could have a long-term structural impact on the IT services market.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
Customers embarking on multi-year technology refresh cycle and their increased focus on growth and transformation (G&T) initiatives are expected to provide strong growth levers for Tata Consultancy Services (TCS) in the medium and long term, its CEO Rajesh Gopinathan said.
Partnership will ensure that Intel's chips sell better in systems that are used by large enterprises
Gopinathan is aware of the challenges and opportunities that lie ahead.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
IT major Wipro on Friday posted a 4.6 per cent year-on-year rise in its consolidated net profit for the June quarter at Rs 3,003.2 crore. The Q1 FY25 revenue of the Bengaluru-headquartered firm, however, fell 3.8 per cent to Rs 21,963.8 crore.
The company hires postgraduate and PhD students from A+ grade institutes to be part of its research team.
Shares of RIL rose by over 1 per cent to a multi-year high of Rs 1,410 on BSE
The Nifty IT index rose by 5.14 per cent on Friday (January 12), marking its best performance in a day since July 2020, followed by another 1.9 per cent rally on Monday. With this, the index, which tracks the share prices of India's 10 biggest information technology (IT) services companies, has increased 7.1 per cent in the past two sessions. However, the substantial rally in the index occurred at a time when India's four largest IT companies reported their worst quarterly performance in over five years.
Indian IT companies have been under pressure to return excess cash on their books to shareholders through generous dividends and buybacks
A 150 basis points fall in realisations too weighed on the top-line.
From the Sensex basket, Tata Consultancy Services, Nestle, Bajaj Finserv, Wipro, Maruti Suzuki India, Reliance Industries, Larsen & Toubro and NTPC were the major laggards. Tata Steel, Bajaj Finance, JSW Steel and Bharti Airtel were among the gainers.
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TCS' brand value grew 286 per cent from $2.3 billion in 2010 to $9.04 billion in 2016
Street may be ignoring TCS headwinds as the stock's peak valuation doesn't seem justified by BFSI weakness, likely higher US tax rates and stronger rupee, reports Ram Prasad Sahu.
The gauge for the performance of informational technology (IT) stocks soared nearly 5 per cent-most in nearly three years-as growth worries eased following a robust order book posted by bellwether Tata Consultancy Services (TCS). The Nifty IT index rose 4.5 per cent to close at 30,945. This was the biggest single-day gain since September 14, 2020. Industry titan TCS' shares rose 5 per cent to Rs 3,509.
New Delhi, Jun 4 (PTI) Tata Consultancy Services, the country's largest software company, may sack as many as 290 employees at its Finland office, a move that the workers say is an attempt to shift jobs to India. TCS, which has a registered office in Helsinki and has an employee strength of about 80 ...
Possibility of higher growth and relatively cheaper valuations makes Street more positive on Infosys, says Sheetal Agarwal.
'We do not see people getting reduced, but because of automation, we will do more work.'
Indian IT services company Infosys on Thursday said all its employees in Israel are safe. Amid escalating tensions in the Middle East, Infosys CEO and MD Salil Parekh said its employees in Israel are primarily locals but declined to comment on the exact staff strength there. The company further said it is "saddened" by the situation unfolding in the region.
The IT major is followed by RIL (Rs 795,628.55 crore), HDFC Bank (Rs 624,362.11 crore), Hindustan Unilever (Rs 367,880.69 crore) and ITC (Rs 367,513.78 crore).
Its Board has declared a second interim dividend of Rs 5 and a special dividend of Rs 40 per equity share of Re 1 each of the company.
Rajesh Gopinathan, who took charge as chief executive of TCS on Tuesday, said he and his newly appointed team will ensure sustenance of the company's growth momentum and continuous evolution of its strategy.
Technology, not just cost, is key to IT's future.
Hussain shall hold office as the chairman of the company until a new chairman is appointed in his place
From the Sensex basket, Sun Pharma, Maruti, Power Grid, Titan, JSW Steel, Tech Mahindra, Larsen & Toubro and State Bank of India were the major laggards. Tata Motors, Tata Consultancy Services and Nestle were the gainers.
In July-Sept 2016-2017, TCS had missed street expectations with 7.8% growth in revenue.
In the list of top-five domestic firms, RIL was placed at the top of the pack followed by TCS, HDFC Bank (Rs 6,50,136.04 crore), HDFC (Rs 3,85,207.96 crore) and HUL (Rs 3,76,545.49 crore).
At the end of trade on the BSE, RIL's market capitalisation was Rs 7,14,668.54 crore, while India's largest IT firm by revenue TCS slipped to the second spot with a valuation of Rs 7,06,292.61 crore.
Indian SMBs spent $11.9 billion in 2010 on IT and it is expected to grow to $48.5 billion by 2015.
Infosys had guided for a revenue growth in the range of 11.5-13.5%, which has now been lowered to 10-12%.
'Young people are digital natives.' 'Hence, their ability to learn coding and to become a full stack engineer is far more.' 'The demand for such people is more as we feel that if we hire people from campuses, we can train them to become what we want.'
The strong client metrics, industry leading growth in digital services, a very strong order book and deal pipeline are validations that customers recognise TCS' differentiated capabilities, chief executive officer and managing director Rajesh Gopinathan said.
