Page 79 - Tcs News Today

Early this year, Siemens signed a Rs 26,000 crore ($3.25 billion) contract with Indian Railways to supply and service electric locomotives for freight movement in India. The deal is the biggest locomotive deal in the history of Siemens Mobility and the single largest order for the company in India.

According to the company, Siemens Xcelerator is an open and evolving digital business platform comprising a curated portfolio of digital and Internet of Things (IoT)-enabled offerings (software, hardware and digital services) from Siemens, and certified third parties.

​The department had earlier probed TCS on Transfer Pricing (TP) adjustments to check if the transactions with its associated enterprises were at arms length and whether TCS was liable for taxes on brand fees. The assessing officer (AO) for the assessment year FY14-15 had arrived at the assessed income of 18,752 crore.

​​In a statement, IT industry body Nasscom said: “We condemn the horrific act of terrorism on Israel that has led to loss of innocent lives and precipitated the conflict. The technology industry in India, we value our partnership with Israel as an innovation hub and will continue to strengthen our engagements.” As regards the current crisis, the industry has a limited presence in Israel largely focused on innovation partnerships and R&D.

"Overall, we expect the market to remain range-bound with a bout of volatility given the uncertainty still looms globally, despite the ease in US 10-year bond yield and fall in crude oil prices,” said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

“HDFC Bank and Bank Nifty should be the key and we think as the RBI governor was very bullish, he said the best place to be is in India, I would take his words to be more credible than this present uncertainty which has been caused by this geopolitical event.”

There is currently nothing negative about the Indian economy or the Indian markets. The data shows positive signs in terms of inflation and growth. The TCS buyback falls into the category of giving money back to promoters in a tax-efficient way and people should not get too excited about the buyback. Regarding MCXs approval to shift to a new platform, a lot of things are already priced in.

TCS Buyback Plan: The last time TCS came up with a buyback plan was in 2022 March

The markets extended its gains at open and closed in the positive territory.

From the Sensex pack, Tata Steel, SBI, NTPC, JSW Steel and IndusInd Bank opened in the red, while only HCL Tech, TCS, and Infosys opened with gains.