Page 122 - Tcs News Today

The first step in the income tax return filing process is to gather all the required documents. This include - Form 16, Salary slips, Form 26AS, AIS etc. It is important to note that AIS is the extension of Form 16As. The question arises between Form 26AS and AIS which is more important for ITR filing?

Foreign institutional investors (FIIs) are in particular worried about the impact of macro uncertainties in developed countries on Indian software exporters. After selling IT stocks worth over Rs 48,000 crore in FY23, FIIs sold another Rs 9,154 crore worth of IT stocks in Q1.

"We have gone ahead and rolled out our annual salary increase with effect from April 1st. Our operating margin of 23.2% reflects the 200-bps impact of this hike, offset through improved efficiencies," TCS CFO Samir Seksaria said.

We have given a 12-15 percent raise for exceptional performers, Milind Lakkad, TCS Chief HR Officer said.

Banking, financial services and insurance (BFSI), a key segment, grew at 0.2 percent QoQ, exhibiting signs of continued pressure.

Indias top software exporter Tata Consultancy Services kicked off the earnings season with a forecast-beating double-digit growth in Q1 net profit, while HCLTech posted an 8% YoY growth in consolidated net profit to Rs 3,534 crore. This and more in todays ETtech Top 5.

TCS Interim Dividend: The record data has been fixed at July 20 and the dividend will be paid on August 7

The interim dividend shall be paid on August 7 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 record date.

Sector-wise, Nifty Auto surged 0.76% and Nifty Financial Services rose 0.56%. Banks, FMCG, pharma, realty, consumer durables, and healthcare sectors also opened with gains. In the broader market, Nifty Midcap 100 rose 0.43%, and Nifty Smallcap 100 gained 0.39%.

The unfavourable macroeconomic conditions in the key markets of the US and Europe have affected the spending behaviour of the clients, which is expected to affect the performance of the Indian software exporters. During such challenging times, the management commentary of these companies will be crucial in determining the medium and long term demand trend