Trading of CNX Nifty futures on the Singapore stock exchange indicates a flat opening on the domestic bourses today, 17 April 2015. Asian stocks were mixed today, 17 April 2015. Shares of software major TCS will react to its Q4 results announced after market hours yesterday, 16 April 2015. Index heavyweight Reliance Industries (RIL) declares Q4 March 2015 today, 17 April 2015.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 214.36 crore yesterday, 16 April 2015, as per provisional data as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 432.27 crore yesterday, 16 April 2015, as per provisional data.
TCS' consolidated net profit excluding one time special employee reward rose 8.35% to Rs 5773 crore on 1.14% decline in income to Rs 24220 crore in Q4 March 2015 over Q3 December 2014. TCS' bottom line during the quarter was boosted by 76.39% surge in other income to Rs 1136 crore in Q4 March 2015 over Q3 December 2014. The result was announced after market hours yesterday, 16 April 2015.
TCS' reported net profit during the quarter fell sharply due to employee reward. Consolidated net profit dropped 30.31% to Rs 3713 crore in Q4 March 2015 over Q3 December 2014.
TCS said that it will pay employees a special reward or one-time bonus to mark the 10th anniversary of the company's initial public offering in 2004. For the company, the total consideration for this special reward to employees will be Rs 2628 crore.
Looking forward to financial year (FY) 2015-16, CEO and MD of TCS, Chandrasekaran said that the company's investments in platforms, digital and automation are gaining traction with clients and together with its market investments in USA, Europe and Japan, the company is upbeat that the coming quarters will bring more opportunities to partner with customers across multiple industries.
TCS said that the board of directors of the company at its meeting held on 16 April 2015 has recommended a final dividend of Rs 24 per share for the year ended 31 March 2015 (FY 2015).
Bank stocks will be in focus after the Reserve Bank of India (RBI) said in a notification issued to commercial banks yesterday, 16 April 2015, that it has been decided by Government of India (GoI) to implement the Interest Subvention Scheme for 2015-16 for short-term crop loans until 30 June 2015 on the same terms and conditions approved for the scheme for 2014-15 as an interim measure. The RBI stated that GoI is examining various alternative approaches for improving the efficacy of the Interest Subvention Scheme for short-term crop loans and its finalization may take some time.
Bharat Heavy Electricals (Bhel) will be in focus, With respect to news article titled "Bhel, Russian firm INTMA ink pact for power plant in Kazakhstan", Bhel has clarified after market hours yesterday, 16 April 2015, that the subject matter is at a proposal stage only and as such is not price sensitive information. The subject media report has been released by an independent media services agency covering Hannover Messe, Germany, where Bhel is participating as an exhibitor, Bhel added.
Pharma and cement stocks led losses as key benchmark indices edged lower for the second straight trading session yesterday, 16 April 2015. The S&P BSE Sensex fell 133.65 points or 0.46% to settle at 28,666.04, its lowest closing level since 7 April 2015.
Asian stocks were mixed today, 17 April 2015. Key benchmark indices in China, South Korea, Hong Kong and Indonesia rose by 0.12% to 1.61%. Key benchmark indices in Singapore, Taiwan and Japan fell by 0.22% to 0.77%.
Singapore's key non-oil domestic exports unexpectedly surged in March due to growth in both electronics and non-electronic shipments. Exports of goods made in Singapore rose 18.5% in March compared with a year earlier, after falling 9.7% in February, trade promotion agency International Enterprise Singapore said today, 17 April 2015.
US stocks closed slightly lower yesterday, 16 April 2015 as investors digested a mixed batch of economic reports.
US economic data released yesterday, 16 April 2015 showed housing starts rose far less than expected in March and factory activity in the mid-Atlantic region grew modestly this month, suggesting the economic momentum will probably not be strong enough for the Federal Reserve to decide to start raising interest rates as early as June.
Meanwhile, Greek Prime Minister Alexis Tsipras yesterday, 16 April 201 reportedly said that he was "firmly optimistic" his government would reach an agreement with its creditors by the end of April despite friction over issues such as pension and labour reform. Greece needs to strike a deal within the next few months to secure billions of euros in bailout aid to avoid defaulting on its debts and potentially exiting the euro.
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