India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
According to Randstad Employer Brand Research (REBR) 2020, Microsoft India scored high on financial health, strong reputation and utilisation of the latest technologies. Others in the top 10 list are Samsung, Amazon, Infosys, Mercedes-Benz, Sony, IBM, Dell, ITC and TCS.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Total of 11 private Indian firms have made it to the list of 500 most valuable companies across the world, and the country is ranked 10th on the chart, as per a report. The total value of these 11 companies grew 14 per cent and has been pegged at $805 billion or nearly a third of the Indian GDP. All these companies in the list of non-state enterprises have gained in value during 2020, which was hit by the pandemic, barring tobacco major ITC and second largest private sector lender ICICI Bank, as per the 'Hurun Global 500' report.
'Cyrus was always very different. He would think before acting.'
In 2008, the 13 companies on the list accounted for 34 per cent of the overall m-cap.
Except RIL and CIL, the remaining eight companies among the top 10 witnessed slump in their m-cap
The company reported 13.5 per cent rise in revenue to Rs 23,816 crore (Rs 238.16 billion) in the second quarter.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
As many as 14,000 runners from across 15 countries will be lining up to take part in a nearly month-long initiative to raise funds for coaches and support staff in various sports amid the COVID-19 pandemic, the organisers said on Thursday. Championed by celebrated national badminton coach Pullela Gopichand, and Arjuna Awardees Ashwini Nachappa and Malathi Holla, 'Run to the Moon' will conclude on July 21 to coincide with the 51st anniversary of man's first landing on the moon.
Here's a look at how key Tata group companies fared under Cyrus Mistry's stewardship.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Top corporates have paid more advance tax in second quarter this year.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
A pilots' grouping of Tata group-owned Air India has approached the labour department to initiate conciliation proceedings with the airline's management to sort out various issues, including concerns over possible changes in service conditions of its members. The Indian Commercial Pilots Association (ICPA), which claims to represent around 900 pilots flying narrow-body planes of Air India, has written to the Chief Labour Commissioner (CLC) as well as Deputy CLC and Assistant Labour Commissioner in New Delhi earlier this week. Apart from service condition issues, the association has flagged that the airline's plans to hire captains for its A320 fleet on a fixed-term contract may result in an anomalous situation for the existing pilots at Air India.
India's roughly $150 billion outsourcing sector generates about three quarters of its revenue from the United States.
The company's growth was driven by a decline in total expenses, lower finance cost and higher other income.
The Adani story has only one angle -- how the stocks were rigged up to ridiculous heights, the Hindenburg report on gross overvaluation, followed by the vertical free fall of Adani stocks, points out Debashis Basu.
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
TCS has done better than Infosys in sequential and yearly revenue growth so far this financial year.
Shares of RIL surged 4.42 per cent to its all-time closing high of Rs 1,082.20 on BSE.
Tech major's shareholders will receive total dividend of Rs 15,474 crore in FY15
Company signs MoU with state for its three-year plan; ties up with Subhash Ghai firm for content creation
Famous and long believed to be trusted Indian brands have wilted against foreign brands, says Mohan Guruswamy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
As part our series on dealing with the pink slip, we spoke to financial planner Sridhar Vetapalem on how to get your finances in order.
Its market capitalisation tops those of the 3 largest Indian firms combined
'I hope they all survive, but it is a tough world.' 'The carriers who are already established are already struggling.'
The broader Nifty too fell for the second straight session and closed with a loss of over 62 points, or 0.54 per cent, at 11,520.30, after hovering between 11,496.85 and 11,602.55.
HCL's president & CEO Anant Gupta talked to Business Standard about the demand environment, its in the European market and Roshni Nadar's induction into the company's board of directors.
While the two high-profile exits in pharmaceutical and telecom have raised concerns over regulatory hassles in the country, Japanese investors are still keen to tap into India's consumer growth story and many more merger and acquisition deals are in the offing in this space.
Wipro, Steel Authority of India, HDFC Bank, Mahanagar Telephone Nigam, Bharat Heavy Electricals and Reliance Commnications among companies reporting a decline in headcount in FY17.
2018 has been a disappointing and highly volatile year for equity investors.
The S&P BSE Sensex ended up 28 points at 25,844 and the Nifty50 ended flat at 7,915.
At a time of massive job losses that is what the much-vaunted Indian IT sector needs. Ritwik Sharma reports.
