Software Financial News

Pre-IPO fund Wunala Capital, run by ex-Macquarie investor Scott Wilson, is getting ready to meet prospective backers after making 2.65-times money for its investors on nine exits.

Ola Electric, Ather Energy, TVS Motor Company, and Hero MotoCorp have collectively deposited ₹129.30 crore with IFCI Ltd, a state-run non-banking finance company. This is part of the ₹312.42 crore in total refunds these companies need to make to electric two-wheeler (e2w) buyers following allegations of mispricing and wrongful claims of government subsidies. According to a top official at the heavy industries ministry, a sum of ₹183.15 crore has been paid back to e2w buyers so far.

₹38,994 crore for the just-ended quarter. Infosys has also declared an interim dividend of ₹18 per equity share carrying a face value of ₹5 each.

Revenue from operations during the period rose 8% to Rs 26,672 crore as against Rs 24,686 crore in the same period last year. The board has declared an interim dividend of Rs 12 per equity share for the financial year 2023-24. The record date for the same has been fixed as October 20 and the payment will be on October 31. Both profit and revenue were above the estimates.

As artificial intelligence makes advances in all industries, one company has announced a flagship AI-driven product that will help financial firms with compliance protocols.

Mukesh Ambani has reclaimed the first position on the 2023 Forbes list of India’s 100 Richest with a net worth of $92 billion. He transformed Reliance Industries into a diversified conglomerate and cemented his succession plan by appointing three children to the company's board. Once again, Mukesh Ambani surpassed Adani Group Chairman Gautam Adani who slipped to the second position and experienced a staggering decrease in weather following the Hindenburg report.

Google's much-anticipated flagship smartphone line-up, the Pixel 8 series, which was released last week, is all set to hit the store shelves starting today.

₹1,490.50 apiece on the BSE, lower than previous close of ₹1,493.65 apiece. On NSE, Infosys shares opened at ₹1,491.90.Infosys is likely to report a net profit of ₹6,422.5 crore in Q2Fy24, registering a growth of 8% from ₹5,945 crore in the April-June quarter of FY24. The net profit is expected to grow 6.7% YoY."We expect steady deal-wins and conservative commentary on the demand environment.

The Sunshine State is about to get an influx of venture capitalists after the state government’s start-up funding initiative received a staggering amount of interest.

MUMBAI : Tata Consultancy Services (TCS) Ltd kick-started the fiscal second-quarter earnings season for the technology services industry on a disappointing note, with both revenue and profit falling short of analysts’ expectations. Worryingly, TCS’s dollar revenue slip in the September quarter comes on the back of a 0.4% sequential growth in the preceding three months, implying that the country’s largest technology services company added $779 million in incremental revenue in what is a seasonally strong first six months of the fiscal year. This translates into a 5.7% dollar revenue growth in the April-September period for TCS.

₹11,342 crore between July and September this year. Meanwhile the attrition rate declined further to 14.9% during the same period. “Our attrition rate continues to improve.

Tata Consultancy Services reported a net fall of 6,333 employees in headcount in the second quarter (Q2) of FY24 taking the overall headcount to 608,985. Further, the headcount fell by 7,186 compared to the year-ago period. India's largest software exporter had added only around 523 employees sequentially in Q1. This comes as IT companies are facing slow growth because of macro headwinds and tech spends being pulled by clients. Last month global IT major Accenture reported a headcount growth of just 951 in their fourth quarter while guiding a tepid 2-5% revenue growth for FY24. Voluntary attrition for the quarter for stood at 14.9% compared with 17.8% last quarter and the company said further improvements in the metric would be seen going forward.

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Raymond James analysts upgraded shares of Take-Two Interactive Software (NASDAQ:TTWO) to Outperform from Market Perform in a note Wednesday, assigning the stock a price target of $170 per share.

geopolitical tensions have dominated headlines. Be it the Russia-Ukraine waror various revolts outside the US, it seems like the world is becoming more chaotic and unstable. When nations lose trust in each other, it creates an environment where they are likely to engage in conflict to accomplish their goals.

₹1233.90 apiece in early Wednesday trading on the back of a huge surge in volumes. Over the past ten trading sessions, the shares have gained 15%, and their year-to-date increase stands at 35%. Out of the last nine months, the stock closed positively six, with the most significant monthly gain occurring in May at 16%.

Q2 earnings of India's top IT firm Tata Consultancy Services are due later in the day. Shares of Wipro were the top gainers in today’s trade as the stock surged up to 4% to Rs 423.8 apiece. While, shares of Mphasis, and Persistent Systems rose over 2%.

Tata Consultancy Services (TCS) will announce its second-quarter earnings after market hours on Wednesday. While the performance scorecard will be closely watched, investor interest will be more in the share buyback program. On October 6, the software major said that its board of directors will consider and approve a plan to buy back shares of the company. Following the news, the stock hit an 18-month high of Rs 3,679 the next day.

₹2,158.90 apiece on the BSE. Multi Commodity Exchange of India (MCX), the largest commodity bourse in the country, said it will go live with its new commodity derivatives platform (CDP) on October 16, 2023.

Listed telco Telstra has agreed terms to buy cloud services business Versent for $267.5 million, afterseeing off rival bidder Japan’s NTT as flagged by Street Talk on Monday.

TCS Q2 Results Live: Tata Consultancy Services (TCS) will announce its July-September quarter results for fiscal 2023-24 (Q2FY24) today, October 11. D-Street analysts widely expect India's largest software service exporter to report single-digit growth in terms of revenue and profit over global economic triggers that continues to weigh on the information technology (IT) sector.