Page 35 - Tcs News Today

K Krithivasan says: "You cannot look at the deal wins in the same lens as revenue. It does not follow the same revenue trajectory because there is always a certain amount of lumpiness as a timing issue. You need to look at over a long period of time, over the last four quarters, how the deal wins have been very strong. And this quarter, it is not aided by any mega deals because mega deals tend to be lumpy and all come from mid-sized deals. We are very happy with what we achieved in terms ...

Tata Consultancy Services Ltd. key Products/Revenue Segments include Consultancy Income and Sale of Equipment & Software Licences for the year ending 31-Mar-2023.

Tata Consultancy Services (TCS) shares jumped over 3% following its Q3 results. Morgan Stanley upgraded the stock to Overweight, while Motilal Oswal and Nuvama reiterated their buy stance. TCS reported higher-than-expected revenue but lower bottomline. Morgan Stanley raised the price target to Rs 4,240. Motilal Oswal has a target of Rs 4,250. Nuvama revised the target to Rs 4,500. Kotak maintained an Add rating.

IT counters surged up to 14% on a rub-off impact from Infosys and Tata Consultancy Services (TCS) while the Nifty IT index also hit a fresh 52-week high of 36,482.25. In the largecap pack, the top gainer was Infosys which soared 8% to the days high of Rs 1,613.65 on the NSE. TCS, meanwhile, gained 4.2% to attain the days high of Rs 3,894. Their smaller peers Cyient and Firstsource Solutions rose 6% and 14%, respectively. Other IT stocks including Mphasis, Coforge, Tech Mahindra, Wipro, LTIMindtr...

Today, the focus will be on the results of HCL Technologies and Wipro.. Other important results include HDFC Life Insurance Company, Anand Rathi Wealth, Aditya Birla Money, Den Networks, and Tata Metaliks. HCL Technologies is expected to beat sector seasonality with a rise in revenue, while Wipros performance is expected to be muted due to furloughs and weak demand.

Wipros staff strength for the quarter ended December was 240,234 as against 244,707 in the previous quarter. HCLTechs staff strength for the quarter ended December was 224,756 as against 221,139 in the quarter ended September 2023.

The Nifty 50 index hit a new record high of 21,874 points, driven by strong support from the IT sector, with largely Infosys and TCS contributing to the rally.

TCS CFO and CHRO discuss Q3 results and margin resilience. Attrition has decreased and there is potential for further reduction. Subcontracting cost has been lowered and there is room for optimization. The impact of generative AI on the workforce is acknowledged, but it is not a major factor in the current headcount decline. The BSNL deal contributes to growth and showcases TCSs capabilities. The demand environment is being closely monitored and there is optimism for improvement.

India Business News: BSE Sensex and Nifty50, the major indices of the Indian stock market, reached new all-time highs on Friday, driven by the strong performance of heavyw

Biggest gainers on the Nifty included Infosys, ONGC, Tech Mahindra, LTIMindtree and TCS, while losers were Cipla, Apollo Hospitals, Power Grid Corporation, UltraTech Cement and Bajaj Finserv