TCS Financial News

NEW DELHI : The People’s Bank of China (PBoC) continues to own shares worth at least ₹25,000 crore across 20 major Indian companies, including Tata Consultancy Services (TCS) Ltd, Infosys Ltd, Hindustan Unilever Ltd and Vedanta Ltd, despite escalating geopolitical tensions between the two nations over the past three years, company filings showed. Infosys and ICICI Bank are PBoC’s biggest portfolio holdings in India. The Chinese central bank owns 0.8% of Infosys, worth ₹4,678 crore, and 0.7% of ICICI Bank, worth ₹4,583 crore at current prices.

TCS on Wednesday said it has 250 staffers in Israel and stressed that the ongoing conflict will not have any major impact on its business. The company said it is in constant touch with all staffers, and at present, the focus is their safety and to look at how they help the communities they live in. It has initiated business continuity plans wherever necessary to ensure that the customers do not get impacted, TCS Chief Operating Officer N Ganapathy Subramaniam told reporters, adding that it does not expect any major impact of the war on its business.

₹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.

₹11,432 crore in the September 2023 quarter. This was 8.7 percent higher as compared to ₹10,431 crore in the corresponding period last year. Sequentially, the consolidated net profit was up 2.4 per cent as TCS had posted a profit of ₹11,074 crore in the June 2023 quarter.

dividend of ₹9 per share with a record date of October 19 and the payment date of November 7, 2023. Also, the company announced a share buyback of up to ₹17,000 crore at ₹4,150 per share. "Strong deal momentum delivered us a very large order book in Q2 – our second-highest TCV ever in a quarter, and a good pipeline.

Tata Consultancy Services Ltd (TCS), announced its second interim dividend of ₹9 per equity share of ₹1 each post financial results on October 11, 2023, rewarding its shareholders. TCS post its first quarter results in July had announced a similar interim dividend of ₹9 per equity share of ₹1 each. The second interim dividend shall be paid on Tuesday, November 7, 2023, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Thursday, October 19, 2023, which is the Record Date fixed for the purpose.

Tata Consultancy Services (TCS) has approved a second interim dividend of Rs 9 per share for the financial year ending 2024. «We would like to inform you that at the Board Meeting held today, the Directors have declared a second interim dividend of Rs 9 per equity share of Rs 1 each,» the company said in a filing. The record date for the second interim dividend is fixed as October 19. The second interim dividend will be paid on November 7 to eligible equity shareholders of the company whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on record date. Shares of TCS will likely trade ex-dividend on the day or a day before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment.

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.

Reliance Industries, HDFC Bank, and ITC. The BSE benchmark Sensex advanced 394 points or 0.6% to settle at 66,473. The broader NSE Nifty surged 121 points or 0.62% to end at 19,811. Meanwhile, the market capitalisation of all listed companies on the BSE increased by Rs 1.9 lakh crore to Rs 321.61 lakh crore. From the Sensex pack, Wipro and UltraTech Cement were the top gainers, rising 3.4% and 2.1%, respectively.

TCS share price: Shares of Tata Consultancy Services (TCS) have been in uptrend since early morning deals. TCS shares price today opened upside and went on to hit intraday high of ₹3,650 apiece on NSE, logging near one per cent intraday gain in near one hour of stock market's opening bell.

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.

“Following the terrible attacks in Israel, our immediate focus has been on ensuring our employees’ safety. We’ve now made contact with all of our local employees, and we’ll continue supporting them. “We’re also working to provide reliable, accurate information to people who use our products. Our systems across Google and YouTube prioritize authoritative information in moments of crisis and breaking news. Our teams are working around the clock to ensure this, as well as to detect and remove graphically violent, hateful or terrorist content, or coordinated disinformation campaigns. Our cybersecurity experts are also sharing their findings in real time with the broader security community. For example, our security unit, Mandiant, has observed fake accounts connected to Iran which are promoting anti-Israeli narratives across various services, as well as investigating reports of distributed denial-of-service (DDoS) attacks by suspected pro-Hamas and pro-Russia hacktivist groups targeting Israeli government websites. Our thoughts are with the victims and their loved ones, and all those affected." Earlier, TCS also said that it is closely monitoring the safety of its employees in Israel amid the ongoing war between Israel and Hamas.

TCS buyback 2023: Indian IT major Tata Consultancy Services (TCS) is going to declare its Q2 results 2023 today. However, market would be eagerly awaiting about the outcome of its board meeting in regard to buyback of shares as IT behemoth has declared that its board of directors would consider and approve share buyback in its boar meeting scheduled on 11th October 2023.

₹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.

TCS Q2 Results Preview: IT major to report muted earnings growth; share buyback in focus (Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) Another brokerage firm Nuvama Wealth Management believes Infosys' Q2FY24 revenue may rise 6 per cent YoY. Besides, the brokerage firm expects revenue to grow by 1.2 per cent QoQ in CC terms and 1 per cent QoQ in USD terms.

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.

Bank of Baroda: The Reserve Bank of India (RBI) on Tuesday asked the Bank of Baroda (BoB) to immediately suspend further onboarding of customers onto their mobile app ‘bob World’. This ban comes after RBI found material supervisory concerns while onboarding customers onto the app. Any further onboarding of customers of the bank on the app will be subject to rectification of deficiencies observed and strengthening of the related processes, said an RBI release.

Here are the companies that will be on investors’ radar on Wednesday: Tata Consultancy Services The software major will announce its September quarter earnings after market hours, and the company is seen reporting a mere 1.4% sequential growth in consolidated revenue to Rs 60,218 crore, and a 3% rise in net profit to Rs 11,404 crore, according to the average estimates. The board will also consider and approve buy back of shares, and the market widely expects it to spend Rs 18,000 crore in the same. Multi Commodity Exchange The exchange is set to go live with its new commodity derivative platform from Monday.

Wipro will roll out annual hikes or merit salary increases (MSI) to its employees effective December 1. The Bengaluru-based information technology firm had postponed the hikes, due in September, by a quarter due to macro headwinds and margin pressure. The hikes will be decided on an individual basis over the next few weeks.

Tata Consultancy Services (TCS), disallowing a tax demand of more than Rs 600 crore, sources aware of the development told ET. The department had earlier probed TCS on Transfer Pricing (TP) adjustments to check if the transactions with its associated enterprises were at arm's length and whether TCS was liable for taxes on brand fees. The assessing officer (AO) for the assessment year FY14-15 had arrived at the assessed income of '18,752 crore. The transfer pricing officer (TPO) was of the view that the assessee is recognized as one of the big 4 in the technology industry and is a very powerful brand.