Without exception, the top four majors beat Street estimates across all parameters - revenues, profitability, or net profit growth. However, what stood out were the large deal wins reported by the big two, TCS and Infosys.
The stock of LTIMindtree finished at Rs 5,001 a piece on Monday, which means it is down about 5 per cent from its all-time high as its June quarter results for the 2023-24 financial year (Q1FY24) missed estimates. A cautious note by the management, coupled with the fact that it will miss its double digit revenue growth target for FY24 weighed on the stock price. The company delivered revenues of just over a billion dollars in the quarter with constant currency growth of 0.1 per cent.
Almost five years later, the three services have still not fully understood that joint/theatre commands are not a discussion point; they are the prime minister's diktat on a military reform measure that is in line with what armed forces around the world have implemented, points out Ajai Shukla.
Shares of healthcare services major Max Healthcare Institute have gained over 23 per cent since the start of this month and the stock crossed the Rs 1 trillion mark on September 24. On September 25, it closed 989.85 apiece at the NSE. The gains were cornered on the back of a strong outlook for the sector and aggressive expansion plans for the chain led by acquisitions and organic growth.
India's top technology companies will witness a tepid revenue expansion in the third quarter (October - December) of the current financial year (Q3FY24) - along expected lines - on the back of furloughs and no blockbuster deals, even as the momentum gained from Generative AI (GenAI) is likely to take centre stage. IT services and consulting firm Accenture's first quarter numbers in FY24 showed a significant pick up in GenAI spending. It signed new bookings to the tune of $450 million in this space, a surge from the $300 million signed in the whole of FY23.
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
Finance Minister Nirmala Sitharaman is likely to hold pre-budget consultations with industry chambers on June 20, sources said. The budget for 2024-25 fiscal is likely to be presented in Parliament in the second half of July. Industry sources said the pre-budget consultation with Sitharaman would be preceded by a meeting with Revenue Secretary Sanjay Malhotra on June 18.
'The deal pipeline across products is robust for 2024.'
'Citibank customers will migrate to the Axis Bank platform over 18 months.'
Private Equity investment in Q1, 2015 witnessed a year- on-year jump of 30 per cent to $2.6 billion.
IT service company Wipro on Friday reported 7.8 per cent year-on-year decline in its consolidated net profit for the March quarter to about Rs 2834.6 crore, and cautioned that the macroeconomic environment remains "uncertain". The Bengaluru-headquartered company, which recently saw a change of guard with Srinivas Pallia taking over at the helm as the new chief executive officer, has given an IT Services revenue growth guidance in the (-)1.5 per cent to +0.5 per cent band for June quarter on a constant currency basis.
'We are sure FY25 is going to be better...But to call out that all problems are behind us is a bit early.' 'The underlying business sentiment has not changed significantly.'
The news of Dixon Technologies (India)'s tie-up with HP in addition to its existing Lenovo and Acer partnerships has led to a 5 per cent stock uptick since the start of the week. Dixon can target roughly 60 per cent of India's addressable IT hardware market with these contracts. Dixon targets Rs 48,000 crore in revenue from IT hardware under the PLI scheme over the next six years.
'We're putting a lot of focus on GenAI developers and people who can really do all the architecture and programming.'
The first quarter results (Q1FY25) of Indian IT services hint towards better fiscal growth than the preceding year, but as the management commentary said, "there is still some time for the industry to be firing on all cylinders." Among the majors-Tata Consultancy Services (TCS), Infosys, HCLTech, and Wipro-it is the Bengaluru-based Infosys that has performed better, which was also evident in its full-year revenue guidance.
India may adopt a 'horses-for-courses' policy after failing to counter the spin-friendly conditions in Colombo.
'BJP and RSS may have differences over minor issues but their hearts long for one common aim -- that of A Hindu Rashtra.' 'And this time to prove this point the RSS has prepared to help BJP win this election with all its might.'
Strong Q3 brings Infosys comfort amid macro risks.
The trend is expected to remain bullish in 2015, global consultancy Grant Thornton said
Prime Minister Narendra Modi is deeply concerned by the war in Ukraine and his meeting with President Volodymyr Zelenskyy in New York demonstrates his commitment to finding a way forward and contributing in any way possible to a resolution of the conflict, Foreign Secretary Vikram Misri said.
The July-September quarter saw significant deal momentum.
For India, the biggest disappointment was the poor showing of their senior most players Rohit Sharma, Virat Kohli and Ravichandran Ashwin.
After several losses in the early years of the new century, a resurgent India notched up two consecutive series wins in Australia to become the Aussies' nemesis.
For the smart phone industry, it has been a lacklustre quarter of CY2024, with sales falling by 3-4 per cent over the same period last year, according to Counterpoint Research projections. However, with the launch of many new models in Q1 of CY24, overall shipments grew year-on-year by 10-12 per cent. In CY23 shipments remained flat, ending the year with 152 million units.
However, the second quarter of FY24 is expected to be muted, and, with that, the hope of double-digit growth is now being pushed to FY25. However, analysts are expecting the momentum in the closure of record total contract values (TCVs) will continue, as has been the case over the last two quarters.
The paper said that the taxation proposal needs to be accompanied by explicit redistributive policies to support the poor, lower castes, and middle classes.
Images from the US Open women's singles second round matches, at Flushing Meadows, New York, on Wednesday.
Grant Thornton reports says total value of deals in 2013 crosses $8 bn, up 34% from the year-ago period, momentum likely to continue
'It will drive a lot of surrounding business, that is where we see some good projects coming in.'
According to the TMC, the momentum built by the INDIA bloc over three successful meetings has dwindled in the last few months due to inactivity, with the Congress preoccupied with elections in three states.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The US is looking very carefully at what Modi did when he was in Moscow, a senior State Department official has told lawmakers concerned over the growing India-Russia ties.
Punjab Kings batters to face different challenge against Gujarat Titans
Delhi Capitals ended their IPL 2023 campaign following a nervy four-wicket victory against Kolkata Knight Riders in Delhi on Thursday.
After a two-year lull, the deal pipeline in India's hospitality sector, which has witnessed a strong revival since the second wave of the pandemic receded, is running full. Family offices, high net-worth individuals (HNIs) and institutional investors are looking at the sector with renewed interest, according to investment and transaction advisory firms working on multiple deals. Most of them declined to divulge details of the deals for reasons of confidentiality. The cumulative debt of the tourism, hotels and restaurant sector rose 8.2 per cent year-on-year (YoY) to Rs 64,408 crore as of March 25, 2022 against Rs 59,519 crore on March 26, 2021, according to the Reserve Bank of India.
Malayalee From India is trapped within its self-serving corniness and refuses to break free in the process, observes Arjun Menon.
'The Paris Olympics has once again blessed the Indian sports marketing landscape with fresh faces and promises.' 'Expect at least one biopic.'
Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
In the event that like in the 17th Lok Sabha Rahul Gandhi again gets locked out of the House, the Congress needs a second-in-command who will keep the momentum going inside Parliament, notes Saisuresh Sivaswamy.
Call Me Bae is a spirited new addition in guilty pleasures for the fashion-loving, rom-com starved soul, applauds Sukanya Verma.
