Page 118 - Tcs News Today

Indias fourth-largest software company expects revenue in the ongoing fiscal quarter to be between a sequential fall of 2% and a growth of 1% in constant currency, or without forex fluctuations.

India Business News: MUMBAI: In a little over six months, the sensex and Nifty have gained 7% each with foreign funds being the main driving force.

The $27.92 billion Tata Consultancy Services expects the demand environment to be muted. Customers are reassessing technology spends and postponing non-critical engagements, MD & CEO K Krithivasan told Romita Majumdar and Surabhi Agarwal in an interview.

The Goods and Services Tax (GST) Council has decided to impose a 28% GST on online gaming when any form of wagering is involved. Industry insiders disagree with the move, stating it will harm foreign direct investment (FDI) and employment prospects. The government countered by saying it has a moral and social obligation to limit the impact of wagering, addictive behaviour and protect tax revenues.

Most of the large IT companies will have earnings which will be minus 5% to plus 5% of last years earnings. And valuations are around 20 to 25 times for most of them.

From the Sensex pack, Infosys, Tech Mahindra, TCS, Wipro, HCL Tech, and Bajaj Finserv opened with gains, while Power Grid, M&M, NTPC, Asian Paints, Sun Pharma and Bharti Airtel opened with cuts.

US brokerage JP Morgan maintained its underweight rating on TCS and cut the price target citing rich valuations at a time the IT giant reported its slowest June quarter ever.

Shares of TCS, Infosys, Tech Mahindra, Wipro, LTIMindtree, Persistent Systems, and L&T Technology Services ended 1-3% higher on the NSE, while the Nifty IT index ended nearly 2% higher.

India's largest IT services company Tata Consultancy Services saw a massive drop in hiring in the first quarter of the fiscal year 2024. The company a

On Thursday, July 13, 2023, several significant stocks, including Finolex Cables, TCS, KIOCL, Triveni Turbine, Thermax, Aptus Value Housing Finance India, L&T Technology Services, and HDFC Bank, crossed their 50-day Simple Moving Average (SMA) indicating a potential shift in short-term momentum. These companies displayed impressive performance and positive momentum, surpassing their respective 50 SMA, which is considered a positive sign for investors.