Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
Over the past few months, RIL and TCS are competing with each other to claim the number one position in terms of market capitalisation.
The campus placements process usually starts in July-August, but is likely to start earlier this year.
Late Ratan Tata always ensured employees are taken care of along with the well-being of their families across the Tata Group companies, which shaped a number of leaders across the conglomerate, and there really was no one like him, Tata Sons chairman N Chandrasekaran said on Monday. Recollecting his association with Tata (86) who passed away last week, in a post on networking platform LinkedIn, he wrote, "Anybody who met Mr Tata came away with a story about his humanity, warmth, and dreams for India. "There really was no one like him."
The company is racing ahead of its peers even as other sectoral players feel the slowdown heat.
The country's largest software exporter on Thursday reported an 8.2 per cent growth in net profit for the December quarter at Rs 11,735 crore. The company said its revenue for the reporting quarter grew 4 per cent to Rs 60,583 crore driven by strong double-digit growth in emerging markets, led by India.
American chip behemoth Nvidia Corp and India's retail-to-refining giant Reliance Industries on Thursday unveiled their goal to build a formidable AI computing infrastructure in the country. Highlighting the tie-up, Jensen Huang, founder and CEO of Nvidia, made a broader appeal: India should focus on "manufacturing" AI, rather than racing to build semiconductor fabs. As part of this collaboration, Nvidia will reportedly supply its Blackwell AI processors to power Reliance's one-gigawatt data center in Jamnagar, Gujarat.
TCS moved into new markets like France, Japan thanks to acquisitions.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
While the current headcount reduction has more to do with slowing demand, the rise of artificial intelligence will impact jobs in the future.
The nine-member jury found in an Oakland, California court on Wednesday that the TCS did not have a "pattern or practice" of intentionally discriminating against non-South Asian workers due to their race or national origin.
Experts pointed out the move will only help taxpayers temporarily, as the tax liability remained the same and the date for advance tax has not been extended.
This was a man who like Buddha transformed himself into achieving the impossible and being an inspiration for many generations to come, says business thinker Mudit Jain.
The good news is that salary hikes are expected, though it is uncertain when they will be implemented.
Revenue grew 5.1 per cent in the quarter under review to Rs 39,946 crore from Rs 38,010 crore in the corresponding period last fiscal.
Campus recruits can also aim to double the existing entry level package by proving their skills through the TCS national qualifier tests.
TCS is tapping an emerging opportunity called IT modernisation, which potentially could be a growth driver for the entire IT services industry for the next two to three years, says Raghu Krishnan.
The June quarter is usually considered as a seasonally strong period for the IT sector.
Global trends, macroeconomic data announcements and the start of the earnings season would be the major drivers for the equity markets in a holiday-shortened week, analysts said. Equity markets will remain closed on Thursday for Eid-Ul-Fitr. Trading activity of foreign investors, rupee-dollar trends and crude oil prices would also guide trends in markets.
Among Sensex firms, HDFC Bank climbed more than 2 per cent. TCS, Maruti, Infosys, Reliance Industries and Bharti Airtel were among the major gainers. State Bank of India, JSW Steel, ITC, Tata Motors, UltraTech Cement and Nestle were among the laggards.
Revenue of the Mumbai-based firm grew 6.7 per cent in the quarter under review to Rs 39,854 crore from Rs 37,338 crore in the corresponding period of the last fiscal.
TCS CEO and MD Rajesh Gopinathan said the company believes the coronavirus impact has "bottomed out" and that TCS should now start tracing its path to growth.
Global firm Accenture's fourth quarter results prove that the worst is behind for the Indian information technology (IT) sector, said analysts on Friday (September 27). While the pace and the broadness of recovery is debatable, they said Accenture's results and revenue growth guidance for the next financial year (FY25) reduce downside risks for Indian IT companies.
In the domestic m-cap ranking, TCS was at number one position followed by RIL, HDFC Bank (Rs 666,533.49 crore), HUL (Rs 400,325.83 crore) and HDFC (Rs 378,236.52 crore).
The new amendment, which came into force on April 21, has been introduced to detect discrepancies between the expenses and incomes of people who do not have to file tax returns.
The buyback, at Rs 2,100 per equity share, entails up to 7.61 crore shares or 1.99 per cent of the total paid up equity share capital.
Fear of a recession in the US due to rising unemployment has added to the concerns of India's IT services sector, which was seeing some growth returning after Q1FY25 results. The Nifty IT closed 3.26 per cent down, as major IT services companies' stock value fell. Tata Consultancy Services (TCS), India's largest IT services firm, saw its stock price fall 4 per cent during intraday trading.
IndusInd Bank, L&T, ITC, HUL, Reliance Industries and Sun Pharma were among the gainers. On the other hand, HCL Tech, Axis Bank, Asian Paints, UltraTech Cement and Infosys were among the laggards.
Discrepancies between Form 26AS and Form 16 can lead to an inquiry by the I-T department.
The candidates will be selected through a National Qualifier Test. The top 1,000 will be offered a much higher salary -- almost double of that being offered to peers.
To me he always symbolised the sincere, confident, face of a Bharat whose rise is unstoppable. Ratan Tata was a Rishi who was unquestioningly trusted by people who never saw him and never met him, asserts Tarun Vijay, the former BJP MP.
Bajaj Finserv, Infosys, Mahindra & Mahindra, Tech Mahindra, Hindustan Unilever, State Bank of India and HCL Technologies were the biggest gainers. On the contrary, Asian Paints, JSW Steel, NTPC and Adani Ports were among the laggards.
'Unfortunately, most of our students use AI to replace knowledge when they should be using the AI tools to enhance their knowledge.' 'I am sorry to say, even those students who have opted to study AI have no idea what AI is.'
TCS, which, plans to earn $1 bn in 3-7 years will explore segments such as cyber security, internet of things, analytics of IoT, and cloud application and infrastructure.
Trading in stock markets this week will be majorly influenced by the upcoming quarterly earnings from IT majors TCS and Infosys, along with global trends, analysts said. Besides, global oil benchmark Brent crude, rupee-dollar trend and trading activity of foreign investors would also dictate the movement, they said. "On the domestic front, all eyes will be on the beginning of corporate performance for the third quarter of the current fiscal year.
In the second quarter, attrition for the IT firm hit an all-time low of 8.9 per cent, a fall of 120 basis points on quarter-on-quarter basis.
The buyback offer saw subscription of approximately 1.47 times the maximum number of equity shares proposed to be bought back
Stock crashes 6.5%; top 5 firms lose Rs 33,883 crore in market cap
While TCS will see demand in the US and Europe, its local business is likely to be hit on poor IT spending.
Move to keep pace with tech landscape; senior employees might be affected
