IT major TCS' consolidated net income rose 6.3% to Rs 7340 crore on 6.8% increase in revenue to Rs 34261 crore in Q1 June 2018 over Q4 March 2018. The result was announced after market hours yesterday, 10 July 2018.
Commenting on the Q1 performance, CEO and MD, Rajesh Gopinathan said the company is starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. The firm's banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, TCS is positioned well for the future.
Gopinathan added that customers across verticals and markets are embracing the company's Business 4.0 thought leadership framework and accelerating their digital transformation journeys.
Axis Bank said that its board has recommended the names of three candidates, in order of preference, for the approval of the RBI. The candidate as approved by the RBI, will succeed Shikha Sharma, whose term as the managing director & CEO of the bank, is due to expire on 31 December 2018. As mandated under the extant RBI norms, the bank will be submitting its application in respect of the recommendations relating to the said appointment, for the approval of the RBI. The announcement was made after market hours yesterday, 10 July 2018.
Shalimar Paints said that its board approved the draft letter of offer of the company and related documents in respect of the proposed rights issue not exceeding an amount of Rs 240 crore. The board also approved re-establishment of Nashik plant of the company and establishment of new Regional Distribution Centre (RDC) at Nashik plant. The announcement was made after market hours yesterday, 10 July 2018.
KEC International said it has secured new orders of Rs 1357 crore across its businesses. The announcement was made after market hours yesterday, 10 July 2018.
Kridhan Infra announced that its associate company, Vijay Nirman Company, won new orders worth Rs 74.20 crore. These orders encompass construction work at IGI Airport, Delhi. These orders are to be completed within 5-7 months. The announcement was made after market hours yesterday, 10 July 2018.
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