Tag: TCS

Sensex bang on above 20K mark, IT stock shine

The BSE benchmark breached the 20,000-mark, being stay positive in the trade on Tuesday, hitting the stock market with much optimistic level.trans Sensex bang on above 20K mark, IT stock shine

It is for first time since January 2011 that Sensex hit 20,000 mark backed with much positive Infosys and TCS , Tata Consultancy Services results.

It also backed up the government’s decision of deferral the controversial general anti-avoidance rules (GAAR) to 2016.

Records showed a high up of Sensex with 31.60 points, or 0.16 per cent in early trading, from yesterday.

With a gain over 100 points in opening trade, the share of IT, automarket, and tech and consumer durables sector are raised with hopes of a cut in interest rates.

Cigarette major ITC is the king among top five share market gainers including TCS, Bharti Airtel, Maruti Suzuki and GAIL, trading at 1.6 per cent high, reports said.

Sensex hit 20K mark Sensex bang on above 20K mark, IT stock shine

National Stock Exchange index Nifty also gained up by 3.35 points, or 0.22 per cent at 6037.15.06 per cent, reports said.

Market as well as investors has more hopes from the country’s largest software exporter TCS after the company announced a 26.7 per cent jump in net profit for the October — December quarter, beating analyst expectations.

Infosys reports 33% growth in net profit

As per latest business sector news, the Bombay Stock Exchange market fell 54 points at 16,122.38 and Sensex over 100 points in the early trade, disappointment with 8% crashed made by the Bangalore-based Infosys, India’s second-largest software company.

But Market forecast of a 33 per cent rise in quarterly profit of Infosys after the company reduced its revenue outlook in dollar terms for the entire year as a debt crisis in Europe which is its second-biggest market.

However such revenue reduction guidance intimates by macroeconomic headwinds in Europe and the US from where most IT companies earn a majority of their revenues, and does not augur well for Infy’s business. Due to debt crisis in Europe all India’s export-driven software services companies are bracing for a slower pace of outsourcing contracts as a weak rupee boosted margins. Read more

TCS overtakes RIL to become largest firm by mid-cap

tcs 300x231 TCS overtakes RIL to become largest firm by mid capOn the last working day of year 2011, and at the last moment a major announcement has been made regarding the market capitalization that Tata Consultancy Services, India’s biggest software services firm, has pipped Reliance Industries to become the largest company by m-cap.

As per time when share value of billionaire Mukesh Ambani-led corporate Reliance Industries decline sharply , the firm position as country’s most valued company has been shifted to Tata group firm TCS this afternoon.

Market capitalization is the total worth of a company in terms of its shares and is equal to the share price multiplied by the total number of shares.

Today, at the time of trade shut down on the Bombay Stock Exchange, RIL’s m-cap was of 226,898.64 crore in comparison to TCS’ m-cap that stand higher position with Rs 227,282.29 crore. TCS closed 0.35 per cent lower but Reliance saw a shaper fall. Read more

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