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tcs: Travel companies seek 20% TCS deadline extension, say system not ready

"I understand that banks are finding it difficult to calculate the TCS component as the reporting systems are not ready," said Jyoti Mayal, president, Travel Agents Association of India (TAAI) and vice chairperson, Federation of Associations in Indian tourism & Hospitality (FAITH).
Ajay Prakash Mohit Kabra Rajiv Mehra Rahul Garg Jyoti Mayal Agents Association Of India

Byju's blast radius may singe digital lenders; Foxconn pings other partners as Vedanta JV stalls

The crisis at Byjus is experienced first-hand by its employees, who now stare at an uncertain future as their employer battles one problem after the other. Indeed, the Byjus blast radius may singe other businesses, like digital lending. This and more in todays ETtech Morning Dispatch.
Ranveer Singh Karan Johar Deloitte Haskins Jayan Nair Vedant Lamba Nikhil Kamath

nifty: Sensex flat amid negative global cues; Nifty below 18,700

Shares of brokerage firm ICICI Securities opened over 15% as the Board of Directors of ICICI Bank will meet on June 29 to consider a proposal for delisting its institutional and retail broking arm. Shree Cement shares hit a 10% lower circuit amid media reports that tax evasion to the tune of Rs 230 billion ($2.80 billion) has been found in tax searches at multiple locations of Shree Cement in Rajasthan.
Bharti Airtel Tata Steel Indusind Bank Ultratech Cement Asian Paints Power Grid

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Down up to 24% from high, are IT stocks like Infosys a steal deal now or overpriced?

Indias IT stocks are being shunned by institutional investors despite the fact some are up to 25% below their 52-week peak levels. The Nifty IT Index is still trading at a 10% premium compared to its 10-year average valuations, with the likes of IT giants TCS, Infosys, HCL Tech, Wipro and Tech Mahindra still trading above pre-Covid valuation levels. Midcap IT stocks are trading at a 25% premium compared to large caps. Hemant Kapasi, head of equities at Sanctum Wealth, said the IT industry may ex...
Akshat Agarwal Sonam Srivastava Hemang Kapasi Founder Of Wright Research Wright Research Tech Mahindra

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