TCS News

Small and medium sized IT companies continued to show year-on-year improvement in the share of aggregate revenue and profit of the sector in the March 2024 quarter though the extent of improvement has tapered down implying resilience from the top tier companies.

Indian headline index S&P BSE Sensex started July trade on Monday, which is also the first day of the month, jumping by over 400 points. An ETMarkets analysys of Sensex's performance in months beginning with Monday since 2020 reveals that the 30-stock index has given positive closing on five out of seven occasions.

​Nine of the top-10 most valued firms together added Rs 2,89,699.42 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in line with a rally in equities. Last week, the BSE benchmark jumped 1,822.83 points or 2.36 per cent.

Newspaper advertisement - Disclosure under Regulation 30 and Regulation 47 of SEBI Listing Regulations, 2015.

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith Schedule of Analyst/Institutional Investor Meeting with Key Managerial Personnel (KMP) of the Company planned for the month of July 2024, and that took place during the month of June 2024.

The Interim Dividend , if declared shall be paid to the equity shareholders of the Company whose name appears on the Register of Members of the Company or in the records of Depositories as beneficial owners of the shares as on Saturday, July 20, 2024, which is the record date fixed for the purpose.

TATA CONSULTANCY SERVICES LTD.has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 11/07/2024 ,inter alia, to consider and approve audited condensed Standalone financial results of the Company under Indian Accounting Standards (IND AS) for the quarter ending June 30, 2024ii. approve and take on record the audited condensed consolidated financial results of the Company and its subsidiaries under IND AS for the quarter ending June 30,2024 and iii. Consider declaration of First Interim Dividend to the equity shareholders.

Analysts said the sustained run-up in indices of late is part of the pre-budget rally, aided by renewed flows from foreign investors in June. The optimism, however, did not rub off on the broader market where there were more losers than gainers.

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we hereby inform you that the second consecutive term of office of Mr. Om Prakash Bhatt (DIN 00548091) as an Independent Director of the Company ended on June 26, 2024.

The other five companies that have reached the $100 billion market capitalisation milestone are Reliance Industries, Tata Consultancy Services, HDFC Bank, Bharti Airtel, and Infosys. Notably, Infosys reached this milestone in January 2022 but could not maintain that level for long.

HDFC Bank's recent market surge has propelled it to become the 18th most valuable bank globally, surpassing UBS. This intraday surge boosted HDFC Bank's market capitalization to over $162 billion, making it the second most valuable lender in India after ICICI Bank.

Pursuant to Regulation 39(3) of Listing Regulations, please find enclosed the intimation letter received from our Registrar and Share Transfer Agent - Link Intime India Private Limited, providing information regarding loss of share certificates received from the shareholder.

The weakness was led by selling pressure in banks and metal stocks, while FMCG and consumer durables saw some buying amid sectoral rotation. IndusInd Bank fell around 3% and was the top loser in the Nifty pack, followed by 2% plus declines in Cipla, Tata Steel, and Adani Ports. On the other hand, defensives from pharma, FMCG, and IT - Sun Pharma, ITC, Nestle, TCS, and HUL - saw buying action.

The combined market valuation of three of the top-10 most valued firms jumped Rs 1,06,125.98 crore in holiday-shortened last week, with HDFC Bank and ICICI Bank emerging as the biggest gainers. Last week, the BSE benchmark Sensex climbed 217.13 points or 0.28 per cent.

Indian equity indices, influenced by global trends, closed lower on Friday. The Sensex fell 269 points to 77,209, and the Nifty dropped 66 points to 23,501, impacted by Reliance Industries, L&T, and HDFC Bank.

Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.

Indian benchmark equity indices opened higher led by information technology stocks after U.S. IT firm Accenture forecasted annual revenue growth above expectations.

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The Indian rupee fell to a lifetime low of 83.62 against the US dollar on Thursday. Record block deals worth Rs 23,000 crore on Wednesday, which included Vodafone Plc's stake sale in Indus Towers, is said to be among the triggers behind the INR slide. The local currency had closed at 83.4550 in the previous session.

Musk's compensation package not only outstrips TaMo but also surpasses the total revenues of other prominent Indian entities, including HPCL, SBI, Rajesh Exports, and TCS

Sensex and Nifty hit new highs. NCLAT directs NCLT to re-hear APL Apollo Tubes insolvency plea. Reliance Jio's tech collaboration with TM Forum sees 80% resource increase. Police investigate child labor at Som Distilleries. Mahindra Lifespace targets sharp increase in sales. Lupin enters CDMO business. Alembic Pharma receives FDA approval.

The dividend payout ratio is the proportion of a company's earnings paid to shareholders as dividends. This payout tends to be lower in times when companies spend more on expansion. Companies with a high cash flow in mature industries tend to have higher dividend payout ratios.

Steady costs and firm domestic demand supported corporate performance in the March quarter.

Top-10 firms gained Rs 85,582.21 crore in market valuation last week, with LIC leading. BSE Sensex rose 0.39%, hitting an all-time high. Market cap changes noted for Reliance, HDFC, Bharti Airtel, SBI, and LIC.

In the last few days, there have been trading sessions where all of sudden IT stocks have started to do well. This is coming at a time when there is nothing positive which either companies from the sector have said or there is anything else which can be seen as signs of things changing for better. Is this an first indication that global risk on trade is back on the table. There is enough evidence to show when US interest rates are high, there is a risk off mode globally and tech stocks both in India and globally don't outperform, rather they at times under perform. As soon as there is an indication that interest rates in the US are likely to come down, the risk on trade tends to make a comeback and tech stocks start to do well globally. But incase of Indian IT stock, there is probability that this risk on trade is helpful but another factor is adjustment of valuations and finally the fact that some money is going to move toward a strong and stable balance sheet.

Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

The market capitalisation of BSE-listed firms hit another record high of Rs 434.88 lakh crore on Friday as the BSE benchmark scaled new closing peak, rallying for the third day running.

Domestic markets stabilize post-elections. IndiGo stake sold. Go Digit reports profit. Wipro rolls out Lab45 AI Platform. Icra receives demand order. NHPTL approves share transfer. TCS launches IoT lab. IOL Chemicals gets CEP certificate. Castrol MD change. TVS signs contract.

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Hindustan Construction Company (HCC) witnessed a significant surge of almost 15% to reach a peak of Rs 45.6 during Tuesday's trading session on the BSE. This increase came after brokerage firm Elara Capital initiated coverage on the stock with a 'Buy' rating and set a target price of Rs 63.

The Sensex hit a day's high of 77,079, while the Nifty 50 touched 23,411.9 in early trade on Monday on the back of a Modi-fuelled state firm rally, but the IT stocks dampened the buoyant market mood. The IT index fell 1.83%, making it the top sectoral loser. Tech Mahindra, Infosys, Wipro, TCS, and HCLTech declined by 1%-3%, becoming the top losers on the Sensex. The market capitalisation of all listed companies on the BSE surged by Rs 1.59 lakh crore to reach Rs 425.08 lakh crore.

Nifty IT index fell 2.3% with Coforge and Persistent Systems as top losers, despite Nifty hitting a lifetime high. IT sector has seen recent positive returns but remains a laggard over the quarter.

​Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation last week, with blue-chips Tata Consultancy Services, Hindustan Unilever and Reliance Industries emerging as the biggest winners. In an eventful week, the BSE benchmark jumped 2,732.05 points or 3.69 per cent.

IT stocks contributed to Friday’s massive surge in Nifty. Though Infosys was the top contributor, Wipro held the top spot in terms of percentage gains.

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The domestic benchmark equity indices, Nifty50 and Sensex, started the day with gains on Friday, as investors anticipated the Reserve Bank of India's policy meeting. It is widely anticipated that the RBI will maintain interest rates unchanged during the meeting.

Top tier IT exporters see rising employee productivity amidst challenges like revenue deceleration, shrinking margins, and lower headcount in FY24.

India's equity indices surged nearly 1% on Thursday, with markets expected to make fresh highs in the next few trading sessions despite foreign portfolio investors selling shares.

Amid revenue deceleration, shrinking margins and lower headcount, a silver lining for the top tier IT exporters is the rising employee productivity aided by streamlining of human resources through meticulous bench management.

After remaining an underperformer in the current calendar year, Nifty IT (NSEIT) might be ready to take a U-turn, believes JM Financial, suggesting that it was time to start putting weight on the large cap stocks in this sector.