The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
Market breadth was negative, 1528 stocks declined for 704 stocks which advanced.
Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain.
TCS, Infosys ramp up onshore hiring; Infosys committed to hire 25,000 over 5 years.
Infosys aims to achieve an aspirational goal of $20 billion in topline by 2020.
In the Sensex pack, Axis Bank, HCL Tech, M&M, TCS, HDFC, Kotak Bank, PowerGrid, Hero MotoCorp and Vedanta were among the top gainers, rising up to 1.91 per cent. Sun Pharma was the biggest loser, cracking 5.78 per cent.
TCS was the biggest loser in the Sensex pack, sliding 3.17 per cent, followed by HCL Tech, Yes Bank, IndusInd Bank, RIL, ICICI Bank, Infosys, Tata Steel, Kotak Bank and L&T, down up to 2.34 per cent.
Stronger rupee likely to take a toll; Infosys results on April 13 to be keenly watched
There was an uptick in clients' spends in the digital segment.
Wipro, which employs 22,000 people across Chennai, is the latest IT service provider to warn of the impact of the floods in a city
Spend on IT in US is expected to increase by 6.1 per cent in 2014.
HCL Technologies empowers its staff to curb attrition increase operating efficiency.
Top gainers in the Sensex pack included IndusInd Bank, ITC, L&T, M&M, PowerGrid, Asian Paints and SBI, ending up to 3.79 per cent higher.
L&T was the top gainer in the Sensex pack, spurting over 6 per cent, followed by Hero MotoCorp, HDFC Bank, IndusInd Bank, Maruti, HDFC and HCL Tech. On the other hand, ITC, SBI and Bharti Airtel ended in the red.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
The net profit of 82 firms up 20.2%, but topline growth slows to 14.7% on muted show by manufacturing firms.
The record in net addition from the top four was in 2016-17, of 59,427 employees.
At the end of June, 2016, TCS had a total headcount of 3.62 lakh.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent. Sun Pharma was the top loser, cracking 8.58 per cent.
NSE Nifty finished higher by 46.05 points, or 0.39 per cent, at 11,707.90. Asian Paints was the top gainer in the Sensex pack, rallying 6.32 per cent, followed by Nestle India, HUL, Bajaj Auto, IndusInd Bank, Tata Steel, Maruti and PowerGrid.
The combined assets of the top five - Tata Consultancy Services (TCS), Infosys Technologies, Wipro, HCL Technologies and Tech Mahindra were down one per cent to Rs 27,7400 crore at the end of 2017-18, from Rs 28,0100 crore a year before.
IT major Infosys on Tuesday said it has seen no major impact on client deliverables due to the ongoing pandemic, and has been working proactively with clients to mitigate any potential impact. The Bengaluru-based company has also enabled vaccination for 14,150 employees and their family members through its centres, and is in the process of setting up additional facilities across its campuses in India. Besides, Infosys is providing financial support, exploring training and job opportunities for the next of kin and offering necessary assistance to support dependents of deceased staff members.
Auto, pharma, IT, chemicals among sectors with significant reliance on UK and European nations with Tata Motors, Motherson Sumi, Tata Steel, TCS, Wipro, Infosys and Tech M among key names.
According to analysts, IT firms like Infosys, TCS and HCL Technologies are likely to benefit the most on account of larger US exposures and dollar billing.
From acquiring creative agencies, to setting up onsite innovation centres and turning around BFSI with entirely new digital offerings, 2018 had seen the IT industry going from initial lows to new highs.
IT stocks have dropped about 3 per cent in the days since the Donald Trump administration took first steps toward visa reform and all of India's highest-profile technology tycoons have seen their net worth eroded. Saritha Rai reports.
The combined weight of IT companies in the benchmark Nifty 50 index is now at a five-year high of 15 per cent as these companies continue to outperform the broader market.
On the Sensex chart, Sun Pharma was the top loser, followed by Maruti, L&T, Hero Motocorp, Infosys, ONGC and RIL.
Good performances by most information technology (IT) companies in the September quarter and improved forecasts notwithstanding, with the exception of Infosys, stocks of IT biggies such as TCS, Wipro and HCL Technologies have fallen three to nine per cent since Infosys announced its earnings on October 11.
Kotak Bank was the top gainer in the Sensex pack, ending 4.31 per cent higher. PowerGrid, TCS, ICICI Bank, SBI, HCL Tech, NTPC, Infosys, Bajaj Finance, HDFC duo, ONGC, Vedanta and IndusInd Bank too rose up to 2.84 per cent.
They need to upgrade their skills and become smaller, smarter organisations, says Devangshu Datta.
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
The combined dividend payout by early-bird companies -- those that have declared their results for FY21 -- is up 8.9 per cent, lower than the 21.9 per cent rise in in FY20 but ahead of the underlying growth in India Inc business last year. Combined net sales of these early birds were down 1.8 per cent last financial year while net profit was up 27.3 per cent in FY21. Some top companies that have stepped up dividend payout in FY21 include Hindustan Unilever, Indus Towers, Tata Steel, Ultratech Cement, Larsen & Toubro, Dabur, Asian Paints, and UPL. In contrast, banks have skipped dividends under an RBI diktat while companies such as Marico, TCS, Maruti Suzuki, and Godrej Consumer are paying lower dividends for FY21.
TCS, HCL Tech join Infy in reporting improved earnings, are bullish on outlook.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India's largest software exporter Tata Consultancy Services has been selected to set up the State Data Centre in Uttar Pradesh for the e-delivery of government services.
The women on the 17th annual Forbes Power List hail from 30 countries and were born across four generations.
L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances