From the 30-share blue-chip pack, Zomato cracked nearly 7 per cent. Power Grid, Adani Ports, Tata Steel, NTPC, Tata Motors, Tech Mahindra, Mahindra & Mahindra, Asian Paints, Sun Pharma and UltraTech Cement were the other major laggards. In contrast, Axis Bank, Hindustan Unilever, Tata Consultancy Services and IndusInd Bank were the gainers.
In the Sensex pack, Mahindra & Mahindra tanked over 6 per cent after the company cut the prices of its SUV models to boost demand. Mahindra & Mahindra said its XUV700's fully-loaded AX7 range now starts at Rs 19.49 lakh, a price cut of over Rs 2 lakh. Tata Steel, Tata Consultancy Services, HCL Technologies, State Bank of India, JSW Steel, Tata Motors and Kotak Mahindra Bank were other losers.
The TCS board approved a special compensation of Rs 5 crore (Rs 50 million) over and above the Rs 3-crore (Rs 30-million) commission due to him for the last financial year.
Stock markets snapped their five-day losing run on Friday with the benchmark BSE Sensex closing higher by 75 points on value-buying in banking and oil shares after recent losses. The 30-share BSE Sensex rose by 75.71 points or 0.10 per cent to settle at 73,961.31. During the session, it hit a high of 74,478.89 points and a low of 73,765.15 points.
Among the Sensex firms, Tech Mahindra, Tata Motors, Infosys, Wipro, Tata Steel, Tata Consultancy Services, Reliance Industries and Axis Bank were the major gainers. Bajaj Finance, IndusInd Bank and Power Grid were the laggards.
Bajaj Finserv, IndusInd Bank, Adani Ports, UltraTech Cement, Bajaj Finance, Tata Consultancy Services, Infosys, Bharti Airtel, Hindustan Unilever and JSW Steel were the other big laggards.
Tata Steel, Bajaj Finance, Mahindra & Mahindra, JSW Steel, NTPC, Adani Ports, Bajaj Finserv and Larsen & Toubro were also among the laggards. However, Power Grid, HCL Technologies, Infosys, Tech Mahindra, Tata Consultancy Services and ICICI Bank were among the gainers.
From 30 Sensex firms, Adani Ports, NTPC, Power Grid, State Bank of India, Nestle, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the biggest laggards. Axis Bank, Infosys, JSW Steel, Tata Motors, HDFC Bank and Kotak Mahindra Bank were among the gainers from the blue-chip pack.
Among the Sensex pack, Tata Consultancy Services climbed nearly 7 per cent after the country's largest IT services player reported 8.7 per cent growth for the June quarter net profit at Rs 12,040 crore. Infosys, HCL Technologies, Tech Mahindra, Axis Bank, Reliance Industries, JSW Steel, Bajaj Finance and Larsen & Toubro were the other major gainers. Maruti, Asian Paints, Titan, Kotak Mahindra Bank, Bharti Airtel and ICICI Bank were among the laggards.
Mid-tier information-technology (IT) companies last financial year reported better growth numbers than their larger counterparts, highlighting their ability to navigate the uncertain macroeconomic environment. Most of these companies - such as Persistent Systems, Coforge, KPIT, and Mphasis - focus on niche businesses and industries that allow them to go deeper in terms of client mining and expanding wallet share from existing customers.
TCS has launched an innovative business model giving SMBs customised low-cost solutions scalable to their growing business needs.
Tatas's total debt could cross Rs 100,000 crore by the end of this month, according to Kotak Securities, a domestic brokerage. The group's debt has more than doubled in the current financial year. Last year, it was around Rs 30,000 crore. It now stands at Rs 70,000 crore. This is a result of the group's aggressive capital expenditure plans and past acquisitions, says the report.
India's largest IT services firm Tata Consultancy Services' board will meet later this week to consider a share buyback proposal. The board is also slated to consider its financial results for the September quarter and declaration of a second interim dividend to the equity shareholders at that meeting.
Tata Sons has pocketed Rs 11,164 crore by tendering 24.81 million shares in the Rs 18,000-crore share repurchase programme by the group's flagship firm Tata Consultancy Services (TCS). State-owned insurer Life Insurance Corporation (LIC) tendered 1.17 million shares to take home Rs 528 crore. Small shareholders - those holding shares worth up to Rs 2 lakh - tendered 25.3 million shares in the buyback, 4.22 times the 6 million shares reserved for them in the buyback.
Among the Sensex firms, Bajaj Finance, Bharti Airtel, Maruti, Bajaj Finserv, HCL Technologies, Titan, Hindustan Unilever, JSW Steel, UltraTech Cement, State Bank of India and Reliance Industries were the major laggards.
From the Sensex basket, Sun Pharma, Maruti, IndusInd Bank, Titan, ITC, Tata Motors, Larsen & Toubro and JSW Steel were the major gainers. On the other hand, Infosys, Wipro, HCL Technologies, Tata Consultancy Services, Tech Mahindra and Bajaj Finserv were among the laggards.
From the 30-share Sensex pack, Mahindra & Mahindra, Larsen & Toubro, State Bank of India, Reliance Industries, ICICI Bank and Bajaj Finance were the biggest gainers. JSW Steel and Infosys were the laggards.
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From the 30 Sensex firms, NTPC, Nestle, Titan, Kotak Mahindra Bank, Maruti, Hindustan Unilever, Bharti Airtel and HDFC Bank were the biggest gainers. HCL Technologies, Tata Consultancy Services, Adani Ports, Larsen & Toubro, JSW Steel, State Bank of India, Tech Mahindra and Bajaj Finance were among the laggards from the pack.
Among Sensex shares, Tech Mahindra fell by over 6 per cent after the company reported a 60 per cent decline in net profit to Rs 510.4 crore in the December quarter. Bharti Airtel, ITC, HCL Technologies, Asian Paints, Wipro, HDFC Bank, Nestle, Tata Steel, Tata Consultancy Services and Maruti were among the other major laggards. NTPC, ICICI Bank, IndusInd Bank, Reliance Industries, JSW Steel, Bajaj Finance, Bajaj Finserv and Mahindra & Mahindra were among the gainers.
Tata Electronics on Saturday began the construction of its Rs 27,000-crore chip assembly plant in Assam, which is expected to become operational next year and create 27,000 jobs initially. The plant will produce 4.83 crore chips per day using indigenously-developed technologies. The plant's Bhumi Pujan (foundation stone laying) ceremony was held at the project site at Jagiroad in Morigaon district in the presence of Assam Chief Minister Himanta Biswa Sarma and Tata Sons Chairman N Chandrasekaran.
From the Sensex pack, Bajaj Finserv, Mahindra & Mahindra, Axis Bank, Bajaj Finance, Adani Ports, ICICI Bank, Zomato and UltraTech Cement were among the biggest gainers. However, ITC, Nestle, State Bank of India, Reliance Industries, Asian Paints and Tata Consultancy Services were among the laggards.
Market regulator SEBI has given clearance to Tatas for the proposed initial public offering of Tata Consultancy Services, that is likely to realise over Rs 5,000 crore (Rs 50 billion).
From the Sensex firms, Adani Ports, Eternal, Bajaj Finance, Axis Bank, Bajaj Finserv, Reliance Industries, Power Grid and NTPC were the major gainers. Sun Pharma, however, tanked over 5 per cent.
Equity benchmark indices Sensex and Nifty settled lower for the sixth straight session on Monday due to heavy selling in bellwether stocks including HDFC Bank and Reliance Industries amid mixed trends in the global markets and outflow of foreign funds. Falling for the sixth consecutive session, the BSE Sensex tumbled 638.45 points or 0.78 per cent to settle at 81,050. During the day, it plummeted 962.39 points or 1.17 per cent to 80,726.06. The NSE Nifty slumped 218.85 points or 0.87 per cent to end at 24,795.75.
The Union Health Ministry on June 22 postponed the NEET-PG entrance examination, scheduled to be held on June 23, as a "precautionary measure" in the wake of allegations on the integrity of certain competitive exams.
The Tata Tech IPO will be the first from the Tata group since TCS listed its shares in 2004.
Tata Consultancy Services-led consortium has bagged a Rs 15,000-crore contract from BSNL to deploy 4G network for the state-run telco. In a statement, TCS said it has received an "advance purchase order" valued over Rs 15,000 crore from BSNL.
The combined market valuation of eight of the top-10 most valued firms surged Rs 1,21,270.83 crore last week, with Reliance Industries becoming the biggest gainer, in line with an outstanding rally in benchmark equity indices. Last week, the BSE benchmark jumped 1,027.54 points or 1.21 per cent. The BSE Sensex hit its record high of 85,978.25 on Friday.
Historically, Tata Steel has always been among the biggest companies in the group in terms of m-cap, revenue, and profit but its fortunes began to decline after 2010 due to a sharp decline in the profitability of its European operations that it had acquired in 2007. The company was hit by a sharp rise in its debt level after this acquisition. First, it lost out to Tata Motors in terms of revenue in FY11 and then in March 2015, Titan beat it to become the third-biggest firm in the group in terms of m-cap. In FY20, TCS reported higher revenue and Tata Steel had become the third biggest company in that terms.
Among the 30 Sensex companies, Mahindra & Mahindra, Titan, HDFC Bank, Reliance Industries, UltraTech Cement, Bajaj Finance, Axis Bank, Tata Motors and Asian Paints were the biggest gainers. On the other hand, Tech Mahindra, Tata Consultancy Services, Wipro, HCL Technologies, Larsen & Toubro and State Bank of India were among the major laggards.
From the Sensex pack, Tata Steel, IndusInd Bank, Infosys, UltraTech Cement, NTPC, Bajaj Finance, Hindustan Unilever, Tata Consultancy Services, ICICI Bank and Maruti were among the major winners. Titan, Nestle, Larsen & Toubro, Axis Bank, ITC and Asian Paints were among the major laggards.
The Maharashtra government has formed a joint venture with Tata Consultancy Services to step up its efforts to provide online citizen services.
