Page 73 - Tcs News Today

Investors should brace for negative surprises from the earnings of peers in Q2, which is usually a seasonally quarter for the IT sector

No, but we do expect improvement. Now, whether it happens say second half Q3 or it starts Q4 or it gets a bit more protracted, I think that is probably more a near term debate.

TCS CEO K Krithivasan and COO NG Subramaniam discussed the companys Q2 results and future outlook. They highlighted strong deal wins in the UK, while the US market faces uncertainties due to weak retail and manufacturing sectors. They acknowledged that revenue booking and deal signings can be disconnected due to the completion of large projects and customers reprioritizing ongoing projects based on ROI. The executives emphasized the need for agility in planning and stated that the recovery timel...

Chakri Lokapriya believes that while midcap IT stocks continue to generate faster order flow compared to largecaps, he would not invest in them due to their recent run-up. However, companies like KPIT, Mphasis, Coforge, and Birlasoft are performing well with no apparent slowdown in their business momentum. In the cement industry, Dalmia Bharat and JK Cement are considered compelling due to expected capex surge and infra push.

TCS reported dollar revenue of $7,210 million, down 0.2 per cent sequentially. Constant-currency growth came in at 0.1 per cent sequentially. Analysts were expecting the growth in 0.8-1.3 per cent range.

The record date for the interim dividend has been fixed on 25 October 2023.

Beginning October 1, TCS of 5 per cent is applicable on foreign travel for amounts up to Rs 7 lakh, and 20 per cent for sums exceeding that threshold

According to Mahantesh Sabarad, the guidance revision by Infosys is not expected to lead to a significant decline in EPS estimates, but it may delay expectations from the company. Analysts are likely to adjust their estimates, resulting in a similar target price. Sabarad does not anticipate major upgrades in EPS or target prices from analysts. The valuation of Infosys may be capped at 21-22 times forward earnings, and there may be a slight downgrade due to concerns about future delivery.

Tata Consultancy Services (TCS) has mandated a return to the office for employees for a full five-day workweek. The decision was announced during the companys earnings call, emphasizing the importance of aligning with core values. TCS reported a 9% YoY growth in net profit and an almost 8% YoY increase in revenue for Q2.

Indian IT majors Infosys and HCLTech reported profits for the second quarter of FY24, despite numerous headwinds plaguing the sector. This and more in todays ETtech Top 5.