TECH TITAN
TCS Q1 beat fuels market rally, lifts Sensex, Nifty and m-cap to new records
The market capitalization of all BSE-listed companies reached a record high, increasing by Rs 1.18 lakh crore to Rs 452.36 lakh crore. TCS, India's leading IT services company, saw a 6.7% rise after surpassing revenue expectations. This surge contributed to a 4.25% increase in the US rate-sensitive IT index.
Parag Parikh Flexi Cap Fund reduced stake in RIL, BHEL, added more of ITC in June
Parag Parikh Flexi Cap Fund reshuffled its portfolio in June by reducing shares of Reliance, Bharat Heavy Electricals, TCS, and Tech Mahindra.
Sensex, Nifty rise at open tracking positive cues from Asian peers
By 9:17 am, Indian benchmark indices saw gains with Sensex at 78,129 and Nifty50 at 24,384. Market rises were led by TCS, ICICI Bank, Infosys, Tata Steel, Titan, SBI, and HCL Tech. In contrast, HDFC Bank, Ultratech Cement, Power Grid, M&M, and Nestle India experienced declines. TCS is set to report June-quarter earnings today.
Q1 Earnings Preview: Flat to 4% growth in net profit expected from Nifty pack; auto, financials, health to outperform
Motilal Oswal and Kotak Mahindra differ in their Q2 earnings projections for the Nifty universe. While Kotak forecasts a nearly flat growth of 0.6%, Motilal Oswal projects a 4% increase in net profits. Both firms predict stronger growth when excluding global commodities. Motilal Oswal anticipates a 10% YoY increase for the Nifty excluding oil & gas and metals, while Kotak forecasts a 9.3% rise excluding oil marketing companies.
Cricketer Ravichandran Ashwin buys team in Tech M's Global Chess League
Cricketer Ravichandran Ashwin has partnered with Prachura Group founder Prachura PP and former Prestige Estates CEO Venkat K. Narayana to acquire the American Gambits team in the Global Chess League (GCL), a joint venture between Tech Mahindra and the International Chess Federation. The team will debut in the second season of the league, which will be held from October 3-12 in London.
A war of titans builds up in India's cement sector
The UltraTech-India Cements deal comes two weeks after Adani Group unit Ambuja Cement announced acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore, adding to its capacity and market share in southern India.
Global Chess League to generate business value of $40 m in 5 years: Tech Mahindra CEO Mohit Joshi
The Global Chess League (GCL), initiated by Mahindra Group chairman Anand Mahindra, is projected to generate over $40 million in business value over five years, according to Tech Mahindra's CEO Mohit Joshi. The league, a joint venture with the International Chess Federation (FIDE), is the world's first franchise-based chess league and targets expansion into the US and Europe alongside India. With six current teams and plans to expand to eight teams from the third season, GCL aims to boost engagement across social media and TV platforms.
Block deals worth over Rs 40,543 crore this week. Indus Towers, HAL, Suzlon Energy among stocks with major action
Despite the Nifty index closing the shortened trading week with a slight increase of 0.4%, significant activity was observed in block deals. Over three dozen companies across various market caps saw block deals worth a total of ₹40,543 crore, involving both buying and selling.
Sensex declines 200 pts, Nifty below 23,400 on losses in banking & IT stocks
Sensex and Nifty50 traded lower on Friday, dragged down by banking and IT stocks after hitting record highs. BSE Sensex was down 198 points at 76,611, while Nifty50 traded at 23,354.
Who is Larry Ellison? What did he do that his wealth soared by $14 billion overnight?
Larry Ellison has set a new record and moved up in the Bloomberg Billionaires Index after Oracle shared a strong financial outlook.
Rekha Rakesh Jhunjhunwala earns Rs 224 crore dividend from Rs 38,000 crore portfolio in March quarter
Rekha Jhunjhunwala likely earned Rs 224 crore dividend from her Rs 37,831 crore portfolio in the March quarter, including from companies like Titan Company, Canara Bank, and Valor Estate. She holds stakes in various companies and saw changes in shareholding in Agro Tech Foods and Nazara Technologies.
Intense competition drives prices of wearables to all-time lows; sales up but higher inventory worries companies
Earbuds start at Rs 400 and smartwatches at Rs 999 for frontline brands, about half of what they were a year ago, companies and researchers said. Although sales are rising, companies aren’t able to clear out stock fast enough, they added.
IT & banking titans fuel 677-point Sensex rally in last leg of volatile session
The benchmark equity indices tossed between ups and downs throughout the day and finally settled in the green. US rate -sensitive IT stocks contributed majorly to the fag-end rally as all 10 constituents advanced, adding between 1% and 4.2%. Investors gained Rs 3.1 lakh crore on Thursday.
Sensex opens marginally higher tracking postive global cues; Nifty above 22,450
Indian benchmark indices opened higher. HUL, Nestle India, Godrej Consumer Products surged, while Lupin declined. Nifty FMCG, Marico, Dabur, Financial Services, PSU Bank, Consumer Durables, Oil & Gas gained. Global markets rise, oil prices up, rupee strengthens.
Q4 results today: Titan, Britannia, Adani Green among 49 companies to announce earnings on Friday
Q4 results today: 49 companies, including Titan and Adani Green, to reveal Q4 results. Titan foresees 18% revenue growth and 13% net profit rise. Watch out for updates from Titan, Britannia, MRF, Tata Tech, and other key players.
Who is Ankur Jain? Inside the tech titan's grand Egyptian wedding with former WWE diva Erika Hammond
Tech mogul Ankur Jain and former WWE star Erika Hammond recently celebrated their extravagant wedding against the backdrop of Egypt's pyramids. The festivities included a luxurious safari in South Africa and a four-day celebration in Egypt, attended by a star-studded guest list. Jain, known for his tech innovations, founded Bilt Rewards and Kairos, while Hammond has made a successful transition to fitness coaching post-wrestling.
Google CEO Sundar Pichai celebrates 20 years with IT giant, says he still gets a 'thrill' working with tech titan
Pichai commenced his tenure at Google in 2004 following his time at McKinsey & Company. Within Google, he supervised the product management division and spearheaded the development of groundbreaking products like Chrome and Chrome OS. His appointment as Google's CEO on August 10, 2015, followed his prior role as Product Chief under then-CEO Larry Page.
Equity investors become poorer by Rs 7.93 lakh cr in three days
The market capitalisation (mcap) of BSE-listed companies was eroded by Rs 7,93,529.61 crore to Rs 3,94,25,823.46 (USD 4.75 trillion) in three days.
Gemini's flawed AI racial images seen as warning of tech titans' power
For people at the trend-setting tech festival here, the scandal that erupted after Google's Gemini chatbot cranked out images of Black and Asian Nazi soldiers was seen as a warning about the power artificial intelligence can give tech titans. Folks interviewed at the popular South by Southwest arts and tech festival in Austin said the Gemini stumble highlights the inordinate power a handful of companies have over the artificial intelligence platforms that are poised to change the way people live and work.
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