TCS DEAL ACTIVITY
Indian software sector earnings will remain modest in Q1: here’s why
Infosys and LTIMindtree are expected to lead a modest increase in average growth for Indian software service providers in the first quarter of FY25. However, previous top performers, Tata Consultancy Services (TCS) and HCLTech, may see pressure on profits and margins as they work to reignite growth.
IT’s bench strength halves as slump-hit companies eye efficiencies
The bench strength at top Indian outsourcers has nearly halved of late, with higher utilisation and generative artificial intelligence (GenAI) driving efficiency in the $254-billion IT industry. Bench strength in the IT industry means full-time employees who are not assigned any active project.
A gruelling IT marathon: FY24 was a turbulent year for the Indian IT sector. What lies in store for the next 12 months?
In the past two weeks of the final quarter and full fiscal 2024 earnings announcements, most IT majors failed to meet their revenue growth guidance. Many downward revisions for the year ahead were seen despite most firms bagging large deals and sitting on an arsenal of historic total contract value (TCV) wins.
Avoiding IT stocks; 4 sectors to buy into now: Chakri Lokapriya
Chakri Lokapriya discusses earnings upgrades in infra, auto, metals. Maruti's EV models offer growth potential. TCS projects higher growth than Infosys. Wipro faces challenges with new CEO. The approach to automobiles sector is not only betting on things which do not only make products for EVs, but for both types of automobiles.
Binny Bansal, CaratLane’s Sacheti back Xeed Ventures; decoding fintech’s AMC biz
Xeed Ventures, an early-stage fund run by Sailesh Tulshan, which was formerly known as 021 Capital, has also roped in Premji Invest as an LP. The investment committee (IC) for Xeed will consist of Tulshan, Bansal and Sacheti. Xeed is aiming to make a final close of Rs 600 crore and has already snagged 70% of the target corpus, according to people in the know.
TCS in for some bounce after a good Q4 show
"While the revenue was lower than our expectations, the margin improvement and deal wins remained robust, driven by better utilisation of resources," said Sumit Pokharna, IT analyst at Kotak Securities. "In the near term, the stock is likely to move up as the numbers are good."
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TCS Q4 net profit up 9%; two partners leave Lightspeed
Revenue from operations saw a marginal 3.5% year-on-year increase to Rs 61,327 crore. In constant currency terms, TCS clocked a revenue growth of 2.2% in the March quarter. The growth was led by the India business (up 38%), followed by the UK (6.2%).
Apple users hit by spyware attack; placement blues at IITs
iPhone maker Apple has warned its users in India and 91 other countries that they were possible victims of a “mercenary spyware attack”. This and more in today’s ETtech Top 5.
Best quarter in 14 years: Block trades raise $7.1 bn as Tata, BAT cash in
Shareholders have raised $7.1 billion selling their holdings in India so far this year, with the quarter on track to have raised the most from block trades since the January to March period in 2010, data compiled by Bloomberg show.
Sensex hits fresh high, Nifty tops 22,500 as record run on D-Street continues
Indian equity indices Nifty50 and Sensex opened with a fresh record high after U.S. Federal Reserve Chair Jerome Powell assured likely rate cuts this year. M&M fell 4.2% due to an equity block deal. Hindustan Aeronautics signed an amendment to the LCA IOC contract.
IT companies eye specialised talent in small drives to future-proof business
IT majors such as TCS and Infosys are rolling out programmes to hire junior and mid-level talent with a focus on specific technology skills. In addition, some top IT firms are planning to enter the job market in anticipation of a growth pickup in the second half of the next fiscal year that starts in April.
IT gives bears a bull hug!
Despite muted earnings in the previous quarter and little expectations of major recovery in the next quarter, what is driving the rally in tech stocks? The answer lies in FY25, on which everyone is pinning their hopes, decode Beena Parmar and Romita Majumdar.
IT gives bears a bull hug: what is driving the rally in tech stocks?
Despite muted earnings in the previous quarter and little expectations of major recovery in the next quarter, what is driving the rally in tech stocks? The answer lies in FY25, on which everyone is pinning their hopes.
Upgrad-Udacity deal; Angel One snags Kotak Cherry top deck
Happy Monday! Ronnie Screwvala-led Upgrad is closing in on US edtech firm Udacity, with a fresh fundraise likely to seal the deal. Details of this and more in today’s ETtech Morning Dispatch.
IT may see a muted Q4; rebound likely in FY25: experts
The third-quarter performance of Indian IT majors such as TCS, Infosys, HCLTech and Wipro did not inspire much confidence. In Q3, Tata Consultancy Services posted a 4% increase in revenue and a 2% expansion in profit, while Infosys reported a 7.3% drop in profit. Meanwhile, Wipro’s profit fell 12% and HCLTech’s grew 6.2%.
Time to look at them with a different lens; 7 not so large IT stocks operating in niche areas with upside potential upto 21 %
There is an old saying on Dalal street. News and stock prices have an inverse relationship. When news is good, stock prices are bad and when news is bad, stock prices are good. This probably has played in the IT space more than anywhere else. For more than one year, too much negative has been said about the IT sector and the fact is that management of most of them have been showing lack of confidence in terms of rate of growth. But what happened on friday is a reflection that the street has been pessimistic beyond a reasonable level when it comes to IT stocks. It is time to look at each IT stock on an individual basis and their business model and strength and not with the same lens as the streets look at mega caps like TCS or Infy.
Sensex, Nifty open on lacklustre note as TCS, HDFC Bank trade with cuts
From the Sensex stocks, Nestle India, Sun Pharma, Reliance Industries, NTPC, and Maruti opened in the green, while TCS, HDFC Bank, IndusInd Bank, and Kotak Bank opened in the red.
Tough placement season begins at IITs; startup funding winter continues in November
As placement season kicks off in the Indian Institutes of Technology (IITs) across the country, students are nervous about landing jobs as a shadow of the tech slowdown lurks on campus. This and more in today’s ETtech Top 5.
Titan gets CCI nod for additional stake purchase in CaratLane
The combination relates to the acquisition of 27.18 per cent share capital of CaratLane (a subsidiary of Titan) by Titan Company Ltd, on a fully diluted basis, from Mithun Padam Sacheti, Siddhartha Padam Sacheti, and Padamchand Sacheti, according to a release
30% IT revenues may be from non-Europe, non-US markets by 2030
According to data from technology research firm UnearthInsight, the US and Europe currently contribute 75-80% of the global IT services market while the rest 20-25% is spread across 70-80 countries. This share is likely to increase to 30% by fiscal 2030 said Gaurav Vasu, founder and chief executive at UnearthInsight.
Big IT’s strong deal flows in Q2 hint at possible rebound later in the year
After a subdued second quarter show by TCS on Wednesday, Infosys and HCLTech reported numbers on Thursday. Infosys beat the average analyst estimates in terms of revenue and net profit. While HCLTech disappointed on the revenue front, its net profit was above expectations. Each of the two companies also declared their respective highest total contract value (TCV) of new deals
Hot Stocks: Brokerages view on TCS, Tata Steel, Zomato and BPCL
The IT company is going through rough seas which was anchored by a share buyback. Q2FY24 revenue missed the estimate, but the EBIT margin was above estimate.
Ranjan Pai closes in on $300 million Aakash deal; tech firms face Israel crisis
In what could be a shot in the arm for Byju’s, Manipal Education and Medical Group chairman Ranjan Pai may invest as much as $250-300 million in Aakash Institute, a subsidiary of the troubled edtech firm. This and more in today’s ETtech Morning Dispatch.
India office market shows resilience, Q3 net absorption at 6-quarter high
The Indian commercial real estate sector has shown resilience and sustained growth despite global headwinds. Office space absorption in key markets during the September quarter reached its highest level in 18 months. Gross leasing activity also surpassed pre-pandemic levels, with the manufacturing sector leading the way. The strong demand is driven by India's tech ecosystem, which is experiencing increased offshoring and research and development work.
Allianz-Shapoorji looks to exit Hyderabad's IT SEZ Waverock for Rs 2,000 cr
Allianz Group and Shapoorji Pallonji's entity plan to sell their 2.5 million sq ft IT SEZ property Waverock in Hyderabad, with Apple, Accenture and TCS among the tenants. The property is expected to sell for around ₹2,000 crore. The property has attracted interest from several institutional investors, with Singapore's sovereign wealth fund GIC emerging as the front-runner, according to sources.
Large companies may get margin breather on derivatives deals with banks for hedges
The margin framework, which owes its origin to the financial meltdown of 2008, is aimed to reduce risks and contagion damages of volatility and default in over-the-counter, or one-to-one that banks cut with companies and other banks.
Good time to accumulate IT stocks in next two to three months: Amnish Aggarwal
I would say that both these stocks can give you moderate returns from here, but definitely the momentum currently seems to be more in favour of ITC than HUL.
TCS wins deal to be strategic partner to jet maker Bombardier
As the principal strategic partner, TCS will help Bombardier drive its organization-wide IT and digital transformation.
Meta’s ads business faces a reckoning in Europe
While the fallout from Apple’s move is still playing out, there’s little doubt it has delivered a swift uppercut cut to Meta’s once-invincible ads business. The only consolation has been that Meta can still track its users’ activity within Facebook or Instagram to show them targeted ads.
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