TCS Financial News

Fixed-price projects allow better cost control and a greater ability to introduce automation in projects and expand margins. By contrast, ‘time and material’ control are directly linked to the number of people hard-locked to billable projects.

The CBIC on Monday issued a clarification with regard to availment of input tax credit (ITC) on services provided by the head office (HO) to its branch office (BO), a move which will benefit multilocational businesses operating in sectors like manufacturing, IT services and transportation.In respect of the supply of internally generated services by HO to BOs, where full input tax credit (ITC) is available to a BO, the value declared on the invoice by HO to the said BO may be declared as ‘Nil’, and thereby there would be no need for any tax compliance in such cases.

inflation data released last week bolstered investors’ hopes that the Federal Reserve was close to the end of its interest rate hike cycle. Adding further pressure, US producer prices barely rose in June and the annual increase in producer inflation was the smallest in nearly three years.

Reliance Industries (RIL) and IT major Tata Consultancy Services (TCS), sitting on the third position with a market cap of ₹12.43 lakh crore.  The m-cap of RIL is over ₹18.85 lakh crore, while that of TCS is around ₹12.94 lakh crore. With a market value of over $151 billion, HDFC Bank is now the world’s seventh largest lender.

«What happens during an up cycle is growth surprises in terms of the momentum and as a result, the kind of margin upside and operating leverage which comes in, that is really not built in by analysts and investors there,» says Renu Baid, IIFL Institutional Equities.Let us first start with your understanding of the numbers which have come out so far. We have heard from big IT companies, TCS, Wipro, Tech Mahindra, do you think there is reason to get excited about what you have heard from these managements? I think IT companies, probably investors had weighed down on these stocks.

«If you see large caps, the valuation have corrected about 20-25% and the valuation correction in mid caps and with even more steeper, something like 30-35%. More importantly, in early 2022, when everyone was trying to building an environment around steep Fed rate hikes, the apprehension was that the US economy will slip into a very sharp contraction given the magnitude of sharp rate hike that the US Fed was talking about,» says Pankaj Murarka, CIO, Renaissance Investment.Nothing extraordinary from TCS. Nothing great has come from Wipro or Tech Mahindra but markets are mighty excited that for IT the worst is behind. Is this indeed true? I would like to think so that the worst seems to be behind for IT services companies, primarily for two or three reasons.

IT stocks suddenly rocketed into a higher orbit like Chandrayaan-3 on Friday in their biggest single-day jump since September 2020. All this despite the Q1 headline numbers of TCS, HCL Tech and Wipro had little or nothing to boast about. While TCS' June quarter numbers did not lead to upgrades, HCL Tech's figures were an all-round miss and Wipro's weak guidance drew bearish comments.

Reliance Industries and Tata Consultancy Services emerging as the biggest gainers, amid an optimistic trend in equities. Last week, the 30-share BSE benchmark jumped 780.45 points or 1.19 per cent.

Nifty settled at their fresh record closing highs in the previous session over gains led by shares of IT majors, such as Infosys and TCS. Positive global cues, amid expectations that the US Federal Reserve may pause rate hikes after July, also gave a fillip to domestic market sentiment last week.

The key sentiment appears to be uncertainty, at least for now. “There is near-term softness because of uncertainty.

Thermax 500 21-07-2023 Angel One 0 21-07-2023 LIC India 30 21-07-2023 Saint-Gobain 15 21-07-2023 Arvind Smart 16.5 21-07-2023 Arvind Smart 16.5 21-07-2023 Indian Metals 50 21-07-2023 Arvind 37.5 21-07-2023 Arvind 20 21-07-2023 Super Sales 70 21-07-2023 KPR Mill 200 21-07-2023 Ind Motor Parts 150 21-07-2023 Blue Star 600 21-07-2023 Kokuyo Camlin 50 21-07-2023 Bombay Cycle 50 21-07-2023 MPS 200 21-07-2023 L&T Finance 20 21-07-2023 Duncan Eng 10 20-07-2023 MRF 1690 20-07-2023 Oriental Carbon 70 20-07-2023 Rossell India 20 20-07-2023 Kanco Tea 10 20-07-2023 GPT Infra 15 20-07-2023 Novartis India 200 20-07-2023 Novartis India 750 20-07-2023 Fortis Health 10 20-07-2023 Natural Capsule 10 20-07-2023 TCS 900 20-07-2023 HCL Tech 500 20-07-2023 John Cockerill 50 20-07-2023 Graphite India 425 20-07-2023 Weizmann 5 20-07-2023 Acknit Industri 15 20-07-2023 Jenburkt Pharma 144 19-07-2023 Swelect Energy 12 19-07-2023 Praj Industries 225 19-07-2023 MAS Financial S 18.5 19-07-2023 BCPL Railway In 7 19-07-2023 Blue Dart 300 19-07-2023 Orient Bell 10 18-07-2023 TTK Healthcare 100 18-07-2023 Precision Camsh 10 18-07-2023 UTI AMC 220 18-07-2023 DCM Shriram 180 18-07-2023 Rane Brake 250 17-07-2023 Lakshmi Elec 220 17-07-2023 Modison 100 17-07-2023 Ingersoll Rand 200 17-07-2023 Walchand People 10 17-07-2023 Lloyds Steels 10 17-07-2023 Century 50 17-07-2023   Apurva Prasad, Vice President - Institutional Research at HDFC Securities said, "Hopes of a stronger performance and growth recovery in the second half of fiscal 2024 and U.S.

“The risk versus reward ratio seems quite favorable for IT companies, particularly large cap firms. Stocks like TCS, trading at 18 times earnings for FY24, are quite appealing. The same holds true for HCLTech,” says Rahul Shah, Motilal Oswal Financial Services.

IT stocks to buy after Q1 results 2023: After announcement of first quarter results of three Indian IT majors — Tata Consultancy Services (TCS), HCL Tec and Wipro. After announcement of Q1 results for FY24, big leap in IT stocks have been witnessed as IT stocks are among some limited shares in the Indian stock market, which are available at discounted prices.

During the week, as many as 63 smallcap stocks have delivered double digit weekly returns, 5 of them offered over 25% returns.Zen Technologies was the top gainer from the smallcap pack with nearly 37.2% returns, followed by Lloyds Steels Industries (33.9%), Pix Transmissions (27.9%), and Patel Engineering (26.2%). About 8 stocks, including Moschip Technologies, Mazagon Dock Shipbuilders, Precision Camshafts, HPL Electric, Lloyds Metals, Xchanging Solutions have offered returns between 20 and 25% during the week. In the midcap segment, only 3 stocks, Gillette India, Polycab India and Mphasis have risen in double digits.

India's third-largest IT firm HCLTech told ET that senior employees will not get annual increments for this fiscal year while hikes will be deferred by a quarter for other staff.Also read | HCL Tech Q1 Results: Profit rises 8% YoY to Rs 3,534 crore, misses estimatesWipro has also delayed annual hikes by a quarter. The company has been facing margin pressure and widespread underperformance, especially of its banking financial services and technology vertical.Also read | TCS Q1 Results: Profit rises 17% YoY to Rs 11,074 crore, beats estimates; revenue up 13% India’s largest software exporter Tata Consultancy Services was the only company to have rolled out annual hikes in the first quarter itself, leading to a large margin setback of 200 basis points from increments.Hiring in negative territory The Tata Group firm however has been delaying the onboarding of lateral hires, typically in the 3-10 years’ experience range.

El Niño, the warm current in the Pacific Ocean that is exacerbating bad weather in the Global South. Check out this Plain Facts piece and its 6 charts to understand why the world could be staring at a food shortage. On the other side of the coin, Sayantan Bera explained why India should consider limiting the advertising of junk food, based on the World Health Organisation's recommendations.

Mint. Govil explained that the IT services firm ensures that procurement and resource management group executives, who are key in getting contract staffing vendors on board, get moved across teams and even locations every 3-4 years. “Enterprise risk-management continuously looks at processes in vulnerable areas like hiring, facilities management and procurement.

Rising for the second straight session, the BSE benchmark Sensex advanced 502 points or 0.77% to close above 66,000-mark. NSE Nifty surged 151 points or 0.78% to end at 19,564.

Nifty 50 index's top contributor. According to technical analysts, the stock has already given a multi-month breakout and today there is a strong price traction. In the near term analysts expect information technology (IT) pack to finally come of slumber phase and show strong outperformance, where Tech Mahindra shares is likely to lead from the front.

Wipro has upped its checks and balances on contract hiring, after Tata Consultancy Services (TCS) sacked six employees and blacklisted six staffing firms for alleged lapses in contract staffing. "We are continuously looking at vendors. The process was stringent and we are making it more periodic and bringing in higher frequency of performance checks .

RSI trading up. These stocks have witnessed an increase in their RSI values compared to their previous RSI levels. The RSI is a widely used technical indicator that measures the speed and change of price movements in a stock.