Software Financial News

ISRO announced on Monday that it has successfully completed the «launch rehearsal» for India's third moon mission, setting the stage for the countdown which is set to begin on July 14. Scheduled for 2.50 p.m. on July 14, the Chandrayaan-3 spacecraft will embark on a its lunar journey after being deployed by the LVM3 rocket.

Tata Consultancy Services (TCS) reported a nearly 17% year-on-year (YoY) rise in consolidated net profit for the June quarter to Rs 11,074 crore. Consolidated revenue increased nearly 13% YoY to Rs 59,381 crore. While the net profit was above the ET Now poll of Rs 10,890 crore, the revenue was tad lower than the estimated Rs 59,500 crore.

Infosys has reportedly deferred a pay hike, India's largest software services exporter Tata Consultancy Services (TCS) has gone ahead with a salary hike to take 200-bps hit on its operating margin. «We have gone ahead and rolled out our annual salary increase with effect from April 1st.

Wipro Ltd is likely to report a drop in both revenue and profit for the quarter ended June, weighed down by unfavorable business environment and subdued tech spending by clients. In dollar terms, analysts expect the company to report a 2% sequential decline in revenue in constant currency terms, which is at the midpoint of its guided range. For its IT services revenue, Wipro had offered a guidance in the range of $2,753 million to $2,811 million — translating to a decline of 1-3% sequentially.

«But the overall trend, say even if you get that kind of a consolidation, which means three to five weeks of range-bound markets, a lot of up-down swings, eventually my sense is we break out higher because like I said we are calling this the start of a new bullish phase where you are seeing participation from almost every sector including mid and small caps which is why your breadth is very-very strong so that I think will continue for a period of time. So, for investors, it is a very good phase,» says Rohit Srivastava, Indiacharts.com.Let us start by understanding the market pattern. Nifty's inability to sustain above the 19,500 and 45,000 on the Bank Nifty, is it a sign of weakness? Should we not be compulsive Nifty, Bank Nifty traders right now and focus on stocks because there are no clear trends emerging and only look at a decline, what do you think?Yes and my thoughts essentially are that we have seen a pretty good run-up which makes it fair to expect some kind of consolidation before you start heading higher again.

Dipan Mehta, Director, Elixir Equities, says “it will be sentimentally negative for Nazara and to an extent, the kind of opportunities which they could have pursued has certainly narrowed down for them. But they won’t be impacted too much by the 28% tax on gaming. Delta however, may be hit really hard.

The International Society for Krishna Consciousness (ISKCON) has announced a ban on monk Amogh Lila Das due to his controversial remarks about Swami Vivekananda and Ramakrishna Paramahansa. In a viral video clip, Das criticised Swami Vivekananda for eating fish, asserting that a virtuous person would never harm a living being. He also made sarcastic comments about Ramakrishna's teaching of "Jato Mat Tato Path" (as many opinions, as many paths), implying that not all paths lead to the same destination.

Chinese hackers intent on collecting intelligence on the United States gained access to government email accounts, Microsoft disclosed Tuesday night. The attack was targeted, according to a person briefed on the intrusion into the government networks, with the hackers going after specific accounts rather than carrying out a broad-brush intrusion that would suck up enormous amounts of data. Adam Hodge, a spokesperson for the White House's National Security Council, said no classified networks had been affected.

THe company will acquire an additional 20.6% stake in Lavelle Networks in multiple tranches. “In furtherance to the earlier communication dated January 31, 2022 and in terms of terms of Regulation 30 of the SEBI Listing Regulations, we wish to inform you that the Company has entered into an agreement resulting in acquisition of aggregate 45.6% stake in Lavelle Networks Private Limited, in which the Company currently holds 25% stake," the company said in its stock filing.

Companies like digital identity verification services provider IDfy, digital signature services company EMudhra and Signzy, which offers online identity verification, are looking for business opportunities in the Middle East, Southeast Asia and even the Americas. Besides these players who are commonly clubbed under regtech, or tech companies operating in the regulatory domain, other software-led fintechs are also looking outside India. Spocto, a debt-collections platform which is owned by fintech unicorn Yubi, has opened operations in Dubai.

₹206 crore and an offer for sale (OFS) of up to 85 lakh equity shares. It needs to be noted that as per the red herring prospectus, the company said, in consultation with the BRLMs, undertook a Pre-IPO Placement of 1,020,000 equity shares at an issue price of ₹500 per equity share (including a premium of ₹ 498 per equity share) aggregating ₹ 51 crore (Pre-IPO Placement). Hence, the size of the fresh issue is reduced by ₹51 crore from the earlier ₹257 crore.

Stocks that are trading heavily or have substantial price changes Tuesday: WD-40, Payoneer Global rise; Viridian, Equitrans fall

Wealth management technology company InvestCloud is rebuilding its executive leadership team after a spring shakeup.

Check out the companies making headlines in midday trading.

By Krystal Hu

Nvidia(NASDAQ:NVDA) first-quarter earnings report completely changed Wall Street’s perception of the ongoing generative AI revolution. The chipmaker offered a monstrous guidance that topped analyst expectations by over 50%.

Sapphire Venture plans to invest over $1 billion in AI enterprise startups, doubling down on the technology's adoption by companies across the world, its president Jai Das said at the Reuters Momentum conference in Austin on Tuesday. The $1 billion capital will come from Sapphire's exiting funds, which have $10 billion capital under management and about $3 billion capital waiting to the deployed.

Salesforce will raise prices for some of its cloud and marketing tools by an average 9% from August, the maker of software for customer relations management said, sending its shares up nearly 4% in early trading on Tuesday. Its first price hike in seven years comes at a time when Salesforce and several other technology companies are increasing their spending to include generative artificial intelligence (AI) to their products and services.

HCL Technologies Ltd is likely to have seen subdued growth in June quarter earnings, due to a slowdown in technology spending and weak profitability. The software major’s consolidated net sales are expected to rise a mere 0.6% sequentially in the quarter to Rs 26,756 crore, according to the average of estimates given by 11 brokerages. Consolidated net profit is set to fall 4.3% sequentially to Rs 3,812 crore, the estimates showed.

Netweb Technologies will open for subscription on July 17 and close on July 19. The subscription will open for anchor investors on July 14. Netweb had filed its draft papers with Sebi in March this year and received regulatory approval for the same earlier this month.

₹1,270 (as of July 11), the stock is still up around 90% from its issue price of ₹672. Part of the enthusiasm is undoubtedly due to a strong bull market. However, Ideaforge is a cutting-edge technology company – a market leader in unmanned aerial vehicles (UAV).