Page 33 - Tcs News Today

There is an old saying on Dalal street. News and stock prices have an inverse relationship. When news is good, stock prices are bad and when news is bad, stock prices are good. This probably has played in the IT space more than anywhere else. For more than one year, too much negative has been said about the IT sector and the fact is that management of most of them have been showing lack of confidence in terms of rate of growth. But what happened on friday is a reflection that the street has been...

The Nifty has just broken out from the flag pattern, and may further accelerate towards 22,118 levels. As long as it is above 21,580, buying on dips can be a prudent strategy.

In addition, each of the companies continued to show lower employee attrition and falling headcount which reflects the muted demand outlook in the short term despite fresh deal wins.

India Business News: BENGALURU: The IT services winter shows no signs of abating.

"Investors are likely to trade cautiously as India will release inflation data on Friday. Hence, we expect the market to trade within the current range, along with stock-specific actions," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.

Headcount at TCS, the market leader, dropped 10,669 and that at Infosys by 24,182.

Sandip Agarwal says: “This quarter, the IT companies will show a slight beat in margin. In the next quarter, thereshould be a bigger beat in margin followed by even further better margins in the first half of FY25. We will have good margins to start with followed by good revenue growth.”

Happy Friday! Banks are pushing the pedal on their cobranded credit card strategy as they gain traction through large consumer facing internet companies. This and more in todays ETtech Morning Dispatch

TCS reported a 2% year-on-year growth in consolidated net profit for the quarter to Rs 11,058 crore, and revenue increased 4% to Rs 60,583 crore.

Infosys shares surge as Q3 results beat expectations. While FY24 revenue growth guidance was tightened, analysts are betting that Q3 was the bottom for the earnings downgrade cycle for the IT major. We expect growth to accelerate in FY25 on account of the ramp-up of large deals, strong deal pipeline and expected recovery in discretionary spending, said Emkay Global.