Page 68 - Tcs News Today

In a bid to advance linguistic inclusion in the payments ecosystem, Bhashini – the government’s artificial intelligence-powered multi language national language translation platform – is looking to expand voice-based facilities under the National Payments Corporation of India (NPCI).

Analyst Sandip Sabharwal believes that 2024 might be a tougher year than 2023, contrary to what most analysts are predicting. He warns investors to be cautious about stocks that have seen a decent run-up in anticipation of performance improvement. Sabharwal also expresses skepticism about the IT sector, stating that while some specific companies may do well, larger diversified IT firms are facing significant challenges.

According to Sudip Bandyopadhyay investors should focus on small and mid-cap IT companies that specialize in specific industry segments such as travel and tourism and auto. He suggests that the generic IT companies face challenges in the US, particularly in North America and Europe. Bandyopadhyay also advises caution when it comes to investing in Zomato, as he believes a 50% rally from current levels may be stretched.

The countrys largest software services exporter announced a ₹17,000 crore share buyback, where it will acquire 40.9 million shares at ₹4,150 per share, at a premium of 17.5% to its Thursday closing price of ₹3,542. Investors can tender the shares in the buyback to benefit from an arbitrage opportunity.

In Primeshots today: TCS sees muted revenue growth, Ranjan Pai to invest in Aakash; India-Palestine-Israel; and passwordless era.

For the fiscal second quarter ended September 30, the company posted an 11% sequential fall in revenue in constant currency terms. Net hiring also fell, but HCLTech said it expects the rest of the year to be “strong”.

“We are seeing good growth in hiring for banking, financial services, pharma, healthcare, even consumer verticals and telecom segments . We are seeing improved hiring trends compared to the last two-three years in all these sectors. In the zero to four years experience profile, the hiring trends in non-IT segments are very encouraging.”

Rahul Jain of Dolat Capital believes that long-term investors are giving up on the upside in largecap stocks due to disappointing results. Infosys, in particular, has cut its guidance for the second quarter in a row, indicating more pressure ahead. Jain explains that the revenue growth is not translating from the order book due to delayed starts and a decrease in discretionary spending by clients. He expects a severe cut in stock prices and suggests that midcap stocks with better execution may f...

Three major IT companies have released their results so far. Apart from financials, Q2 has been a tepid quarter when it comes to hiring as well.

"The growth visibility for IT companies is expected to worsen due to cut in discretionary spending, leading to a decline in margins. Analysts should not be too optimistic about order bookings as many of these projects have uncertain start dates. The macroeconomic picture, with central banks trying to control inflation, suggests that next years growth improvement is unlikely. Domestic-focused companies are performing well, especially in the market-focused sector, such as asset management com...