With the advent of new banks, IT firms will get boostto their businesses.
The Bengaluru-headquartered company said the 'draft assessment order' from tax authorities for 2008-09 fiscal has arised primarily due to denial of deduction under section 10A of the Income Tax Act, 1961, in respect of profit earned by its undertaking in the Software Technology Park at Bengaluru.
Revenue from its IT services business rose 9 percent to $1.86 billion.
The Sensex closed down 308 points at 24,894 and the Nifty has lost 96 points at 7,559.
FPIs sold shares worth a net Rs 1236.95 crore on Friday.
India must reckon with the possibility that it will struggle to attract higher overseas investment.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
Earlier in the day, Pichai announced Google would work with the Indian Railways
The Sensex closed the day at 27,490, higher by 479 points and the Nifty ended at 8331.95, up 150.45 points.
Giants like Pepsi and Coke are fast losing shelf-space to healthier, functional options.
IT industry body Nasscom said it is quite hopeful the final contour of the bill would be much more balanced than it is at present.
Investors turn their attention to export-driven sectors.
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Given their growth prospects and reasonable valuations, Mindtree, Hexaware and NIIT remain top picks of most analysts.
The Sensex ended 290 points higher at 29,095 mark and the Nifty gained 94 points to close at 8,806 levels.
IT shares lost ground tracking a sell-off in tech stocks on Nasdaq on Friday
Positive cues from Asian peers also uplifted the sentiment.
The S&P BSE Sensex closed at 26,190, up by 43 points and Nifty50 settled above 7,950 to end at 7,963, up by 17 points
Engineering product firms were among the first to embrace AI and machine learning. And the early adopters are reaping gains.
'Most of the agitations are staged by the Opposition to disturb the peace of the state.'
'We are in the middle of an unprecedented SIP revolution.' 'Monthly inflow through SIPs will be Rs 15,000 crore to Rs 20,000 crore soon.' 'Traditional avenues of Indian savings like bank fixed deposits, gold or real estate are no longer attractive to invest.'
The critics of Prime Minister Modi's latest project are not looking at the future but living in the past, says Syed Firdaus Ashraf.
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The broader markets traded positively with mid-caps and small-caps rising 0.5 per cent each on the BSE.
Sensex in green in afternoon trade.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
While the Trinamool government, led by Chief Minister Mamata Banerjee, tried its best to attract investors, including from Singapore, not much headway could be made.
When is the last time our government recognised a twenty something entrepreneur for introducing a break-out innovation?
Indian IT giants are outstanding companies with great management teams, but they have been held hostage by their past success.
'The benefits may not be visible immediately, but the general feeling of wellness, rejuvenation and relaxation is palpable.' 'A former President had the habit of undergoing Ayurveda treatment every year in Kerala and he remarked once that he felt ten years younger every time he took the treatment.'
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
At 15.05 PM, the 30-share Sensex was up 281 points at 28,238 and the 50-share Nifty gained 86 points at 8,577
Earning numbers of blue-chips, including ITC and SBI, due tomorrow.
Asking employees whether they would prefer to work under a man or woman amounts to asking them to discriminate, positively or negatively, on the basis of gender.
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
The 30-share Sensex dropped 298 points to end at 27,209 and the 50-share Nifty has lost 93 points to end at 8,174.
IT majors along with metal names Sesa Goa and Hindalco buck trend.
Sensex was up 184 points at 25,580 and the Nifty added 71 points to end the day at 7,654
IT companies have, in recent times, re-invested gains arising from a weaker rupee.
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