Top headlines: TCS Q1 net rises 28.5%; Rs 23k-cr Covid package announced

Centre makes mandis eligible for loans, Growth worries, Chinese tech rout drag Wall Street lower, and other top headlines of the day

TCS Q1 net profit misses estimates

Tata Consultancy Services (TCS), India’s largest IT services players, saw net profit increase by 28.5 per cent on an annual basis at Rs 9,008 crore in the first quarter of FY22, but was down 2.5 per cent sequentially. Revenue for the quarter grew 18.5 per cent year-on-year at Rs 45,411, and was up 3.9 per cent sequentially. Despite a miss on the dollar revenue, the company reported total contract value of $8.1 billion for the quarter. Read here

Newly-formed Cabinet approves Rs 23,123-cr Covid package

The Union cabinet Thursday approved a Rs 23,123-crore financial package