Page 22 - Tcs

Indian shares extend gains as US rate woes ease, TCS results eyed

The NSE Nifty 50 index settled 0.62% higher at 19,811.35, while the S&P BSE Sensex rose 0.60% to 66,473.05

Stocks to Watch: Titan, Bank of Baroda, MCX, Birla Corp, TCS, REC, PFC

Stocks to watch on October 11, 2023: MCX said it will go live on the new commodity derivative trading platform from October 16, after a mock session on October 15

TCS Q2 preview: Revenue, profit seen rising in single-digits; buyback eyed

TCS Q2FY24 preview: TCS could see a 9 per cent profit growth from last year to Rs 11,396 crore

Stocks to Watch: MCX, TCS, Reliance, Bank of Baroda, Titan, Liquor, sugar

Stocks to Watch on October 9, 2023: MCX has received approval from Sebi's technical advisory panel to shift to the new commodity derivative trading platform

Weekend Bites: RBI kills one bird with one stone, future of 50-over cricket

In which we munch over the week's platter of news and views

TCS to consider share buyback in board meeting on October 11

This comes at a time when IT companies are struggling to maintain healthy revenue growth

As business from West takes a hit, Indian IT firms explore African market

As things stand, the African continent holds a relatively small share of less than five per cent in the global IT outsourcing

TCS to modernise unemployment claims system of US state of Georgia

Company will bring in web-based platform to apply for unemployment insurance benefits

TCS announces multi-year tech support deal with British retail firm Asda

Indian firm will build a new digital core to streamline Asda's supply chain forecasting, merchandising processes

TCS signs with Asda in disinvestment and digital transformation deal

TCS will aid Asda in enhancing its customer experience and innovation capabilities to help increase its market share

A fifth of entry-level technology jobs may go artificial intelligence way

Experts believe acquiring niche skills can be a smart way to stay relevant in an AI-driven market

Parents may use education loan, dollar assets to lessen TCS impact

Travellers may split forex purchases, use international cards on foreign sites, and book various elements of the trip separately

M-cap of 5 of 10 valued firms decline by Rs 62,586 cr; TCS biggest laggard

The combined market valuation of five of the top 10 most valued firms declined by Rs 62,586.88 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys taking the biggest hit, amid an overall bearish trends in equities. Last week, the BSE benchmark fell 180.74 points or 0.27 per cent, and the Nifty declined 35.95 points or 0.18 per cent. The market valuation of TCS plunged Rs 26,308.58 crore to Rs 12,91,919.56 crore. Infosys witnessed an erosion of Rs 25,296.43 crore from its valuation which was at Rs 5,95,597.10 crore. The market valuation of Reliance Industries fell by Rs 5,108.05 crore to Rs 15,87,553.37 crore and that of Hindustan Unilever declined by Rs 3,865.08 crore to Rs 5,79,373.96 crore. The market capitalisation (mcap) of HDFC Bank dipped Rs 2,008.74 crore to Rs 11,57,145.86 crore. However, the mcap of Bajaj Finance jumped Rs 20,413.41 crore to Rs 4,73,186.41 crore. Bharti Airtel added Rs 8,520.13 crore to Rs 5,19,279.14 crore in its valuation while

How 20% TCS will impact your foreign stock holdings, crypto from October 1

Those who are investing in foreign stocks, mutual funds, or cryptocurrencies abroad will have to pay more TCS if they spend beyond Rs 7 lakh in a financial year.

End of WFH? Tata Consultancy Services looks at 5-day work from office

No official memo for employees across the company, say sources

Accenture guidance delays hopes of demand pick-up for Indian IT: Analysts

Nirmal Bang analysts suggest investors use the gains to pare positions if overweight, especially in the tier-2 IT pack

Higher 20% TCS on overseas remittances, foreign tour kicks in from Oct 1

The higher rate of 20 per cent TCS to be levied on spending above Rs 7 lakh on foreign tour packages and liberalised remittance scheme (LRS) will kick in from October 1. Currently, funds transferred overseas under the Reserve Bank's LRS attract 5 per cent Tax Collection at Source (TCS) on amounts exceeding Rs 7 lakh. The TCS rate will go up to 20 per cent from October 1. Currently, LRS transfers up to Rs 7 lakh in a fiscal do not attract any TCS. The same provision will continue from October 1. At present, purchase of overseas tour packages currently attracts 5 per cent TCS. From October 1, such spending up to Rs 7 lakh will attract 5 per cent TCS. Above the threshold, TCS rate will be higher at 20 per cent. An assessee can take credit of the TCS amount paid at the time of filing income tax returns for the relevant assessment year. TCS of 5 per cent will continue to be levied on annual expenses exceeding Rs 7 lakh towards medical treatment and education each. For those availing

Travel agents body calls to abolish TCS ahead of implementation from Oct 1

As the new Tax Collection at Source (TCS) on foreign remittances is set to become applicable from October 1, travel agents' body TAAI has made a last-minute plea to the government, urging them to abolish the decision or defer its implementation until the next fiscal year to allow discussions on overseas tour packages. The government has raised the TCS on foreign remittances under the Liberalised Remittance Scheme (LRS) from 5 per cent to 20 per cent. This will be applicable to international travel, sending money abroad and other remittances. Travel Agents Association of India (TAAI) has written to Finance Minister Nirmala Sitharaman, appealing to abolish TCS on overseas tour packages, highlighting the business loss and complexity of its implementation. In a letter to the FM, TAAI President Jyoti Mayal said the TCS is a huge challenge for the travel fraternity and would lead to a lot of business being diverted to overseas tour operators. Further, she pointed out that with GST alread

HCLT, Infosys: Morgan Stanley ups target price of IT stocks by up to 29%

Among individual stocks, Morgan Stanley has maintained their overweight rating on HCLT, LTIMindtree and Infosys within the large-caps.

India-Canada rift bad for business; IT firms may struggle to land new deals

Canada makes up to 5-6 per cent of Indian IT companies' revenues. Top companies like TCS and Infosys have recently acquired work from Canadian government departments and organisations