TCS Financial News

TCS reporting its current fiscal's July-September quarter (Q2FY24) earnings, Indian corporates will start disclosing their September quarter scorecards from Wednesday, October 11. Experts are not expecting a firework this time. They believe the numbers will be mostly stable.

The BSE benchmark Sensex advanced 567 points or 0.87% to settle at 66,079. The broader NSE Nifty surged 177 points or 0.91% to end at 19,689. From the Sensex pack, Bharti Airtel, Kotak Bank, JSW Steel, and Tata Motors were the top gainers, rising 2-3%.

Also Read: Earnings preview: Indian IT firms to report soft numbers in Q2FY24; revenue, profit likely to be muted As far as TCS is concerned, the IT major is expected to deliver 0.5% revenue growth in constant currency terms and 0.3% USD growth, on a sequential basis. The brokerage expects TCS to report total revenue of ₹59,904.6 crore in Q2FY24 as compared to ₹59,381 crore in the June quarter. In USD terms, the company is likely to post revenue of $7,246 million as against $7,226 million, QoQ.

closely monitoring the safety of its employees in Israel amid the ongoing war between Israel and Hamas. “We are monitoring, and have been in touch with the HR (human resources) officials there.

The Sensex and Nifty 50 finished 0.7% down at 65512.39 points and 19512.35 points, respectively. Among the big movers in the market on Monday were Adani Ports and Special Economic Zone, Punjab National Bank, Tata Consultancy Services, and Oil India. Here’s what Avdhut Bagkar, Technical and Derivatives analyst, Stoxbox, recommends investors to do with these stocks when the market resumes trading on Tuesday.

Vinit Bolinjkar, Head of Research, Ventura Securities, says “Haifa port was a crucial cog in the wheel of Adani Ports. As the Adani group is in infrastructure, debt is a large part of their programme. That stock is taking a hit because of the uncertainty created by the Middle East tensions. Also the Supreme Court hearing on the Hindenburg Report is on October 13. So, we might as well wait until that before taking any fresh exposure to Adani stocks.” On PSU banks In the last runup, they were the ones that had outperformed the most.

₹6,049.97 crore and bought stocks for ₹5,052.21 crore, resulting in an outflow of ₹997.76 crore, according to NSE data. On Friday, FIIs offloaded Indian equities worth ₹90.29 crore. Domestic institutional investors (DIIs) bought equities worth ₹8,216.60 crore and offloaded shares worth ₹5,555.33 crore, resulting in an inflow of ₹2,661.27 crore, the exchange data showed.

TCS share price: After announcement of proposal for buyback of shares on 11th October 2023 board meeting, shares of Tata Consultancy Services (TCS) witnessed strong buying interest during morning deals on Monday. TCS share price today opened upside and went on to hit intraday high of ₹3,679 per share on NSE, which is its new 52-week high as well.

Reliance Industries: Reliance Retail Ventures Ltd (RRVL) on Friday said that sovereign wealth fund Abu Dhabi Investment Authority (ADIA) will invest an additional ₹4,966.80 crore in the retail unit of Reliance Industries Ltd, following a 1.18% stake purchase in the company in October 2020. The fresh investment values RRVL at a pre-money equity value of ₹8.38 trillion, making it among India’s top four most valuable companies. TCS: Tata Consultancy Services Ltd informed the stock exchanges on Friday that its board will consider a proposal for a share repurchase on 11 October, when the company declares its second-quarter earnings.

The focus will shift towards stock-specific action as Q2FY24 earnings begin this week with TCS announcing results on Oct 11, followed by Angelone, HCL Tech, and Infyosys. «Overall, we expect the market to remain range-bound with a bout of volatility given the uncertainty still looms globally, despite the ease in US 10-year bond yield and fall in crude oil prices,” said Siddhartha Khemka, Head — Retail Research, Motilal Oswal Financial Services. Here's breaking down the pre-market actions: STATE OF THE MARKETS

₹38,000 crore with their listing. Other than this, extra 41 companies are awaiting SEBi's approval to launch initial public offerings worth ₹44,000 crore, reported PTI citing a report. Fund raising through initial public offerings or IPOs fell 26 per cent to ₹26,300 crore in the first half of the current fiscal, despite the number of issues more than doubling to 31, from 14 issues with the total mop-up of ₹35,456 crore in the year-ago period, according to Primedatabase.

₹86,234.73 crore in a holiday-shortened last week, with Tata Consultancy Services (TCS) emerging as the biggest gainer. The holiday-shortened week witnessed a jump in the market valuation of five of top-ten most valued firms ₹86,234.73 crore. Out of the five best performers Tata Consultancy Services (TCS) ermeged as the biggest winner.

TCS, Infosys, HCL Technologies, Avenue Supermarts, and HDFC Life Insurance Company would be releasing their September quarter report cards this week. Here’s a list: October 9 KPI Green Energy, Avantel, Dhampur Bio Organics, Evergreen Textiles, and Betala Global Securities will announce their Q2 results on October 9.

Santosh Meena, Head of Research, Swastika Investmart tells ETMarkets. As long as the India VIX remains below its 200-DMA at the 13 level, it's likely that our market will consolidate with a 'buy on dip' structure. Only a definitive breakthrough above this level (13) could potentially trigger selling in the Indian market, he adds.

Tata Consultancy Services. In the week gone by too, volatility saw benchmark indices swing between gains and losses, but eventually ended flat. The Nifty 50 settled at 19,653 points and Sensex at 65,995 points.

Earnings preview: Experts expect more misses than hits in Q2; how can it impact market sentiment? The projections suggest that the earnings in the second quarter will generally remain steady, characterized by a mix of successes and shortcomings. Notably, IT sectors might show weaker figures, while industries like BFSI (banking, financial services, and insurance), auto, and pharma are expected to report robust performances. October 11 (Monday): Delta Corporation, Plastiblends India, Samhi Hotels, SignatureGlobal India, Tata Consultancy Services, and Zaggle Prepaid Ocean Services.

DLF, HDFC AMC and IndusInd Bank are top three buy ideas from Rupak De, Senior Technical analyst at LKP Securities, for the week ahead. DLF, he said, has broken out of its recent consolidation pattern and has consistently remained above its crucial moving average. Edited excerpts from a chat: With little participation from bank stocks, Nifty eked out a modest gain in the week. How does the trade set-up look like now? Nifty ended the week with a modest gain despite selling in the banking sector. Overall, the sentiment is expected to stay positive as long as it maintains above the critical support level of 19,500 as put writers are likely to offer support at this level. On the upside, resistance is positioned around 19,750-19,800. A strategy of buying on dips would be favorable as long as it holds above 19,500.

₹18,000-crore share buyback program last year, under which it bought back four crore shares at ₹4,500 each. In FY23, TCS returned ₹42,079 crore or 108.2% of its free cash flow to shareholders through dividends. Parent company Tata Sons, which owns 72.3% of TCS, has emerged as the biggest beneficiary of the generous dividend and share buyback programs over the last three years.

Tata Consultancy Services said on Friday that the board of directors will consider a buyback of equity shares during the meeting on October 11. The quantum of buyback was not disclosed. The company has a board meeting on October 11 to consider the second quarter results for the ongoing fiscal.

Also Read: India's bond yield posts biggest single-day jump in 17 months; What's fuelling the rise? “Pursuant to Regulation 29(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that the Board of Directors will consider a proposal for buyback of equity shares of the Company, at its meeting to be held on October 11, 2023," TCS said in its BSE filing on Friday. Also Read: Sunita Tools IPO allotment finalised; here’s how to check IPO allotment status The buyback comes at a time Indian IT services companies are grappling with an uncertain demand environment, especially in the U.S., a key market for the sector.

The NSE Nifty 50 index ended 0.55% or 108 points to 19,653, and the S&P BSE Sensex closed 0.55% or 364 points at 65,995. The RBI's rate-setting committee kept the key lending rate steady at 6.50%. The central bank also maintained its policy stance of «withdrawal of accommodation» to bring inflation within its target band. Meanwhile, the RBI governor retained the inflation projection at 5.4% for fiscal 2024 but cautioned that the inflation trajectory will be shaped by global food and energy prices, as well as El Nino conditions. From Sensex stocks, Bajaj Finserv and Bajaj Finance were the top gainers, rising 5.6% and 3.8%, respectively.