Page 17 - Tcs News Today

Indian shares logged their second straight week of gains, with the benchmark Nifty 50 index hitting record highs in all five sessions, buoyed by a rise in heavyweight financials. As the index closed above the crucial resistance level of 22,200, with the next resistance seen at 22,400. Short-term support is positioned at 21,900. As long as Nifty maintains levels above 21,900, the index may continue to be considered a buy on dips

Bengaluru tech parks face a severe water shortage crisis due to weak monsoon and work-from-office policies. Residents are advised to ration water, and tanker rates are high. The IT industry and areas like Whitefield and Mahadevpura are affected. Images of residents in the area queuing up for water are popping up over social media. A techie living in Mahadevpura said she needs to now book tankers about two days in advance to get water, as well as pay a hefty price.

Indian IT giant Tata Consultancy Services (TCS) has ruled out cutting down on hiring. The company has said that it has no plans of pulling down on hiring but the company may have to pace hiring according to the evolving demand scenario.

On the options front, the maximum Call OI is at 22500 and then towards 22600 strikes. The maximum Put OI is at 22000 and then towards 21900, whereas Minor Call writing was witnessed at 22600 and then towards 22500 strikes, while some Put writing was witnessed at 22000 and then towards 21900 strikes.

Among blue-chip Sensex stocks, HCL Tech, Maruti, Asian Paints, Airtel, and TCS were the top laggards, falling over 1% each. While Bajaj Finserv, M&M, Titan, Wipro, and Reliance Industries closed higher. Vodafone Idea shares closed nearly 8% higher after the company said that its board is scheduled to meet on February 27 to consider and evaluate options to raise funds through the equity route.

Mumbai, Benchmark stock indices Sensex and Nifty edged lower in a volatile trade on Friday, reversing early gains due to selling in IT and select banking shares.

Accenture emerged as the top recruiter in the final placements for the PGP Class of 2024 at IIM Ahmedabad, with 26 offers. BCG followed closely with 23 offers. Goldman Sachs led among investment banks with nine offers, while Adani made the highest number of offers in the general management domain. The placement season saw a decline in management consulting offers but an increase in niche consulting and conglomerate hiring. TCS and PwC were prominent recruiters as well.

Indian equity indices traded lower due to declines in HDFC Bank and Reliance Industries. Asian Paints, Bharti Airtel, Power Grid, Bajaj Finserv tradec with cuts. Axis Bank, HCL Tech, L&T, TCS, Wipro, Maruti gained.

Nifty IT surged nearly 2%, led by HCL Tech, TCS, and Tech Mahindra despite the minutes of the Federal Reserves latest policy meeting indicating most policymakers were concerned about the risk of cutting rates too soon. The market capitalisation of all listed companies on BSE increased by Rs 3.26 lakh crore to Rs 392.13 lakh crore.

Indias technology outsourcing industry is optimistic about revenue expansion in 2024. Tata Consultancy Services and Tech Mahindra CEOs expect growth from deal renewals, vendor consolidation, and transformation projects. The IT industry is projected to reach $253.9 billion in fiscal 2024.