Page 32 - Tcs News Today

Mumbai: Market rallied more than one per cent on better than expected earnings by IT companies Tata Consultancy Services (TCS) and Infosys as well as a stronger rupee and robust direct tax collection...

Apurva Prasad says s that the IT pack has experienced a positive movement in the last two months. However, he believes that a significant portion of the improved outlook is already priced into the market, with PE multiples increasing by 20-25%. Prasad emphasizes the importance of operational performance and highlights that many companies, including larger ones, have the potential for margin improvement.

RIL adds ₹90,220.4 crore to market valuation, while TCS sees significant jump of ₹52,672.04 crore.

The equity market closed at record high on Friday. Sensex zoomed 847 pts to 72,568 and Nifty added 247 pts to 21,894. Heres a look at stocks that are likely to remain in action next week.

“Why don’t senior executives leave TCS? Because we ensure that there is a long-term value we offer,” says the IT majors CEO

The Nifty IT index jumped 5.1% with Infosys soaring 8% and TCS rising 3.9% after their December quarter results and the associated commentary kept hopes alive that the environment may not deteriorate further.

India Business News: HCLTech looks to be the star of the quarter ended December, outshining its IT peers with a 4.3% year-on-year revenue growth in constant currency (whic

HCLTech, Indias third-largest software exporter, outperformed expectations with a 6.2% rise in net profit and a 6.5% increase in revenues in Q3. Meanwhile, Wipro reported a steep 12% fall in profits and a 4.4% dip in revenue. HCLTechs success can be attributed to the $2.1-billion Verizon deal and an increase in headcount.

India Business News: MUMBAI: The sensex and Nifty on Friday hit new life-highs mainly due to investors snapping up leading software stocks.

After the results, analysts at top brokerages did not rush to upgrade their ratings on both the stocks. Some of them marginally raised their price targets on Infosys. The average analyst target price on Bloomberg for Infosys stood at Rs 1,639.77, while TCS stood at Rs 3,962.43.