TCS Financial News

«So, I will just say that there are lot of things which are happening, lot of moving parts happening, lot of leadership change and all, so obviously weak set of numbers,» says Sandip Agarwal, Independent Market Expert.I do not remember the last time we saw a margin profile of around sub-7% for Tech Mahindra. Last year or in FY21, the EBIT margin number used to be well above 16%, now 6.8.Yes, so this is obviously a very weak set of numbers and as you rightly mentioned these things happen once in a decade type and we have seen this last quarter in one of the companies and then that company bounced back substantially in the margin and so the stock price.

Filing of the return of income is mandatory for people in India if their income exceeds the basic exemption limit in a financial year, which under the old tax regime is Rs 250,000 in case of individuals who are not senior citizens, Rs 300,000 in case of senior citizens and Rs 500,000 in case of super senior citizens. Under the new tax regime, the basic exemption limit is Rs 250,000 for FY 2022-23, irrespective of the age of individual taxpayers.

The Q1FY24 results of the IT industry are the worst in recent times in terms of revenue growth and profits, but there's no reason to feel too downbeat. The guidance of the ‘Big Four’ – TCS, Infosys, Wipro and HCL Tech – indicates that FY24 could be a fallow period that the IT industry could use to regroup and consolidate. While things are bound to get better as global growth improves, a big rebound doesn’t seem likely in FY24.

Hindustan Times. About Twenty four graduates received an annual package of more than ₹50 lakh of which eight graduates of them received package of ₹52.89 lakh per annum, the institute informed.

Infosys disappointed the Street with a sharp cut in FY24 revenue growth guidance to 1-3.5% from 4-7%, foreign institutional investors or FIIs had already pared stake in the IT services giant. In the June quarter, FIIs sold IT stocks worth over Rs 9,000 crore, with Infosys and Tech Mahindra being the least-liked stocks. The June quarter shareholding pattern data shows that FIIs pared their stake in Infosys by another 165 bps to 33.44%.

Reliance Industries after its quarterly results, Kotak Mahindra Bank and ITC on demerger update. The 30-share BSE benchmark Sensex fell 299 points or 0.45% to settle at 66,385. The broader NSE Nifty declined 73 points or 0.37% to end at 19,672.

Birlasoft share: Following weakness in IT stocks after weak Q1 results 2023 by leading Indian IT companies — Infosys, TCS, Wipro and HCL Tech — Birlasoft shares witnessed huge sell off pressure during early morning deals on Monday. However, Birlasoft share price bounced back strongly from intraday lows after announcement of IT company collaborating with Microsoft to establish generative AI centre of excellence, driving value creation and innovation.

Stock market today: Amid weakness in Sensex heavy weight Reliance Industries Ltd (RIL) shares and tepid movement in leading IT stocks, Nifty PSU Bank index has come out as big support for the Indian stock market. The Nifty PSU Bank index has hit life-time high in Monday deals.

Buy or sell stocks for today: Following weakness in Reliance and major IT stocks, Indian stock market ended lower on Friday last week. NSE Nifty lost 234 points and closed at 19,745 levels while BSE Sensex nosedived 887 points and ended at 66,684 mark. Bank Nifty index dipped 111 points and closed at 46,075 levels.

₹4,23,014.4 crore in market valuation last week, with major contributions coming in from HDFC Bank, which recently completed the merger with its mortgage financier parent HDFC. Last week, the BSE benchmark jumped 623.36 points or 0.94%. The 30-share BSE index slided 887.64 points or 1.31% down to settle at 66,684.26 on Friday.

Covid-19 pandemic changed the work module outlook for almost every industry. Several technological advancement and progressive undertakings could not have prepared companies to change what they viewed as workplace.  The gargantuan change happened for one particular sex- Women! Surveys and reports have suggested that in an integrally patriarchal society, it has been difficult for women to go back to Working from Office, when they have adapted to working from home.  This preference was evident when Tata Consultancy Services in their annual report noted that a larger chunk of their attrition came from women working in the company after they had been asked to work form office.  Mint had earlier reported, that TCS said more women employees have left India’s top software services company than men in the fiscal year ended 31 March 2023 as its return-to-office policy has led to a “reset of domestic arrangements".

The Union Budget 2023-24 proposed an increase in tax collection at source (TCS) for foreign outward remittances under Liberalised Remittance Scheme (LRS) to 20 per cent, applicable from July 1, 2023, with some exceptions for education and medical purposes. The implementation of the same has been deferred till October 1, 2023. Before this proposal, 5 per cent TCS was applicable on foreign outward remittances above Rs 7 lakh in a financial year. The most affected segments are overseas tour packages and all other purposes excluding education and medical treatment. Banks and financial institutions issued notices to their customer about the changes. 

Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, LTIMindtree and L&T Technology Services (LTTS) contracted by 18,000, worse than a negative 9,000 in the June quarter of 2021, which was during the pandemic, according to data compiled by Xpheno for the last three financial years. To be sure, two out of the six were in positive territory — TCS, the country's biggest IT company, added 523 and LTTS added 1,159 in the quarter. «With four out of the six quarterly net headcount movements in deep red, the two minor positive movements bring little cheer,» said Xpheno cofounder Kamal Karanth.

₹3,370.90 crore in the purchase of shares, while domestic institutional investors (DIIs) sold shares for a net total of ₹193.02 crore. FIIs purchased shares worth a net of 19,696.66 crore rupees for the month up to July 21, while DIIs sold shares worth a net of 10,196.92 crore rupees. As investors took profits, the domestic equities barometers crashed on Friday, snapping a six-day winning trend.

Nifty snapped their six-day winning streak on strong losses in index heavyweights including Infosys, Reliance Industries, TCS and Hindustan Unilever (HUL) on Friday, July 21. Investors were spooked by a significant downward revision in Infosys' revenue guidance, leading to a sharp selloff in the stock after the IT major reported its weakest June quarter revenue growth since FY21.  The Nifty IT index fell by four per cent, with nine stocks showing losses, while only one stock, Mphasis, managed to remain in the green, recording a gain of 4.95 per cent. Shares of Reliance Industries declined as Street is expecting a softer set of numbers due to the subdued performance of the O2C (oil to chemicals) segment.

Golden Crossover, a technical pattern that excites traders and investors alike. On July 21, Friday, Trendlyne reported 45 Nifty50 stocks that have recently experienced a Golden Crossover. In this article, we delve into what the Golden Crossover is, why it is crucial for assessing stock movements, and explore 10 stocks from the pack that have displayed this bullish pattern, as chosen by ETMarkets.

Q1 results 2023: After Infosys Q1 results 2023, all four major Indian IT companies have declared their first quarter numbers for the current financial year. As Indian stock market is in bull trend and IT stocks are trading at highly discounted prices, it is important from a long term investor's perspective as to which IT company has delivered better Q1 numbers and which large-cap IT stock is comparatively better for long term investors.

«If somebody wants to buy I would not recommend buying right away but any declines towards say 1010-1000 would be a lucrative by keeping the stop loss at 950-960, on the upside 1100 is good is what I would be looking for,» says Gaurav Bissa, Incred Equities.How does the charts look for United Spirits? Do you track this stock or the products it offers? I do track the stock though not the products and the offers. The stock is looking good on long term charts but short term we have not been getting too much of signals so at times it was giving 4%-5% breakout.

The BSE Sensex was trading 690 points or 1.02% lower at 66,882. Nifty50 was trading at 19,797, down 182 points or 0.91% at around 9.18 am. Among Sensex stocks, Infosys was the top loser, falling over 8%.

₹1,320.20 against the previous close of ₹1,449.50 and soon extended its loss to 10 per cent to touch the ₹1,305 mark. Infosys stock traded 8.12 per cent lower at ₹1,331.85 around 9:30 am.

Infosys posted a nearly 11% increase in first-quarter net profit, but missed analyst estimates and slashed its revenue growth outlook for the fiscal year, blaming spending cuts and delays in decision-making by clients, especially in the key financial services domain. India’s second-largest software exporter projected its revenue in fiscal 2024 to grow 1.0-3.5% in constant currency, or excluding exchange rate fluctuations, compared with the previous estimate of 4.0-7.0%, underlining the global macro challenges for the country’s storied sector which is seeing tepid demand for outsourcing services.