Page 105 - Tcs News Today

Tcs: This e-marketplace currently handles a GMV of over 2 trillion purchased by over 70,000 buyer organizations from over 6.5 million sellers and service providers, including over 800,000 medium and small enterprises.

The Golden Crossover is a technical chart pattern that occurs when a stocks shorter-term moving average (e.g., 50-day SMA) crosses above its longer-term moving average (e.g., 200-day SMA)

GeM is an end-to-end marketplace for the central government, state governments and PSUs to procure common use goods and services.

Tata Sons got a dividend of Rs 33,252 crore in FY23 compared with Rs 11,499 crore in FY22. Of this, Rs 29,881 crore was from Tata Consultancy Services. TCS, in FY23, paid a dividend of 11,500% or Rs 42,090 crore to its shareholders. Tata Sons holds 72.27% of Indias largest IT exporter.

Tcs: Analysts suggest that the segment is likely to remain under pressure through mid 2024.

Data from Jefferies shows a cumulative 4.6% dip in sequential revenue from the vertical across IT majors, the highest vertical-wise dip compared to all other segments, while revenue from Banking, financial services, insurance (BFSI), which is the largest revenue contributor for the Indian IT industry — saw revenue declining by a lesser percentage — 0.8% during the same period.

IT services majors are estimated to hire between 50,000 to 100,000 employees during fiscal 2024, according to data from staffing firm Xpheno, a precipitous decline from the net hiring of over 250,000 by these companies in the previous year.

From the Sensex pack, M&M, NTPC, Bajaj Finserv, HCL Tech, Wipro, and TCS opened with gains, while ITC, Kotak Bank, Asian Paints, HUL, IndusInd Bank and Nestle opened with cuts.

In a move that Vijay Shekhar Sharma no doubt hopes will please regulators and convince them to greenlight the Paytm founders business plans, Ant Financial has transferred a 10% stake in the fintech major to an entity owned by Sharma. The transaction will reduce Chinese representation on the cap table of One 97 Communications, Paytms parent. This and more in todays ETtech Top 5.

A bulk of the investment (Rs 11,514 crore) went into financial services, which have been a favourite of all big boys of Dalal Street amid solid credit growth. However, the pace of inflow in financial stocks slowed down compared to June when FIIs invested over 19,000 crore in the sector. Capital goods continued to be in the list of top FII favourites as foreign investors spent Rs 5,633 crore in the sector.