Reliance Jio has sent a second legal opinion to the Telecom Regulatory Authority of India (Trai) on the subject of the potential allocation of satellite spectrum. The letter is written by retired Supreme Court Justice L Nageshwara Rao and argues in favour of auctions, stating that any other method for allocating spectrum apart from auctions could be constitutionally unsound. Business Standard has reviewed the letter.
TCS created wealth worth Rs 3,458 billion for the period 2010-15.
TCS has done better than Infosys in sequential and yearly revenue growth so far this financial year.
The buyback, if successful, will surpass RIL's 2012 share repurchase of Rs 10,400 cr
'Every time a new tech comes in, there are a set of people who will predict that this will be the end of Indian IT and every time the Indian IT industry and overall technology providers have proven to be resilient.'
RIL was placed at number one position, followed by TCS, HDFC Bank, HUL, HDFC, ITC, State Bank of India, Infosys, Kotak Mahindra Bank and ICICI Bank.
The Adani stock price saga will pass into public memory as one of those matters that simply escaped being nailed down, perhaps because too many vested interests were involved, notes Debashis Basu.
Profitability and cash reserves have halved since the global financial crisis.
Infosys CEO Salil Parekh, has praised the company's founders for building an "incredible organisation", and exuded confidence that the firm which "has always been solid" will "continue with that stability." Parekh - who steered the firm to stability after a bitter spat between founders and then-management a few years back - believes that Infosys is "well positioned" to leverage tech-led growth opportunities over the next several years. Parekh took over at the helm in January 2018, after a standoff between board and founders, including NR Narayana Murthy, over issues such as governance, led to the exit of then-CEO Vishal Sikka.
Prime Minister Narendra Modi is likely to urge Tim Cook to begin manufacturing its prized iPhones in India.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
In dollar terms, TCS' market valuation rose to $84 billion.
Punita is the founder and managing partner, Pacific Paradigm Advisors
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
Quarterly revenue from Europe rose 35 per cent, the strongest growth since the company started breaking out revenue by region two years ago.
Attrition is driving the hiring effort on campuses.
Morgan Stanley's Asia and Global Emerging Markets Strategy Report downgraded software firms on valuation and earnings concerns.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In 2017, when Infosys announced that Salil Parekh would be its next chief executive officer (CEO) and managing director (MD), very few in the industry or the analyst community doubted his ability to bring the company back to a healthy growth trajectory, improve morale within the company and, more importantly, win the promoters' trust and investor confidence. There were reasons for this confidence. He was not only the deputy CEO of the Paris-headquartered IT services major Capgemini, but also one of the only non-European faces on the executive board of the company.
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