Appreciating rupee against the dollar and fresh buying by domestic institutional investors added to the momentum
HCL Technologies on Monday announced it has bagged a mandate from French aircraft maker Airbus for development of sophisticated embedded software.
IT infrastructure solutions provider HCL Comnet on Thursday said it would increase its headcount to 5,000 from 1,800 in next three years and announced a tie-up with Trend Micro to offer network security solutions.
Infosys, Wipro, Satyam and HCL Technologies form the top five software and service exporters.
The World Bank would outsource over $10 million IT work to India in the next 12 months through its existing Indian partners, Nasscom
The combined assets of the top five - Tata Consultancy Services (TCS), Infosys Technologies, Wipro, HCL Technologies and Tech Mahindra were down one per cent to Rs 27,7400 crore at the end of 2017-18, from Rs 28,0100 crore a year before.
Wipro has already bought a 40 acre plot of land in Greater Noida and is looking for an additional 100 acres.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
HCL Technologies Ltd, India's fifth-largest software exporter, reported on Thursday second-quarter consolidated net profit fell 35.9 per cent year-on-year, slightly below market expectations, pushing its shares lower.
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.
According to reports, Vodafone NZ had offered all its employees, other than call centre and retail staffers, voluntary severance package
For an annual dividend income of Rs 10 lakh or more, the investor will pay a DDT of 10 per cent
IT shares were witness to broad-based selling in early trades as a strengthening rupee indicates lower revenues for these companies.\n\n
Country's third-largest software services firm Wipro has said it has been chosen as the official digital and IT partner for Chelsea Football Club.
The market recovered on Monday due to bargain hunting in tech stocks. \n\n\n\n
IT stocks continued their upward sojourn on Thursday from Wednesdays upbeat run after global markets set a strong precedent.
HCL Technologies on Wednesday reported a whopping 194 per cent increase in its net profit to Rs 791.40 crore (Rs 7.914 billion) for the fiscal ended June 30 over the last fiscal.
There are no major announcements in the Union Budget 2014-15.
The Bombay Stock Exchange has resumed trading after three hours on Thursday.
Geopolitical concerns, earnings sees investors rush to safe haven plays post the Union Budget presentation in July.
In dollar terms, its m-cap rose to $76 billion
From helping their employees infected with the Covid-19 virus to vaccinating them or supporting the families of those who might have succumbed to the infection, several companies in India are trying to do their bit in this difficult time. Some have even widened their support net to include all stakeholders as well as an extended community. To the families of the employees it lost to Covid-19, Noida-headquartered IT services and consulting company HCL Technologies is, for instance, paying salary for a year, medical insurance for three years and extending support for their children's education for five years.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
Tech stocks zoomed in the special trading session on Saturday on huge buying support.
The buyback, if successful, will surpass RIL's 2012 share repurchase of Rs 10,400 cr
Others in the top 10 include Uday Kotak at the 6th place with a wealth of Rs 94,100 crore, Cyrus S Poonawalla at 7th position with Rs 88,800 crore assets, Cyrus Pallonji Mistry at 8th spot with a wealth of Rs 76,800 crore, Shapoor Pallonji at 9th position with a net worth of Rs 76,800 crore and Dilip Shanghvi at 10th slot with Rs 71,500-crore wealth.
75 companies can dole out Rs 1.1 trillion from the 'extra cash' to shareholders.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
IT stocks have dropped about 3 per cent in the days since the Donald Trump administration took first steps toward visa reform and all of India's highest-profile technology tycoons have seen their net worth eroded. Saritha Rai reports.
Where do Indian IT firms stand compared to their global peers in this journey of transformation? Ayan Pramanik seeks answers from IT services analyst Phil Fersht.
The share buyback -- which will be the first in the company's 36-year history -- has been a long-standing demand by some of the founders and high-profile former executives, who have been pushing Infosys to return surplus capital to its shareholders.
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
Tepid growth in verticals like banking and finance, healthcare, retail and automotive will drag overall IT spends in the current year, reports Debasis Mohapatra.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
Converts part of fixed salary component into variable one
The strategy of returning cash to shareholders through stock purchases could hinder their digital expansion plans
