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Ratan Tata invests in Snapdeal
Posted on 28th August 2014 |
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Ratan Tata, Chairman Emeritus of Tata Sons, has made a personal investment in e-commerce company Snapdeal. This announcement, which is expected to intensify the competition in the online retail space, comes just a day after Snapdeal and Tata Value Homes entered into a strategic alliance. The value of the investment made by Ratan Tata has not been disclosed. |
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Sensex trades 130 points higher ahead of derivatives expiry
Posted on 27th August 2014 |
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Mumbai: The 30-share bellwether BSE Sensex traded higher on Wednesday morning, ahead of the expiry of derivatives. The government is expected to release data on GDP growth on 29 August. At 9.22am, the Sensex was trading up 0.52%, or 138.65 points, at 26,581.46 points, while the National Stock Exchange’s broader barometer 50-share Nifty was up 0.38%, or 29.95 points, at 7,934.70 points. |
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Despite strong gains by indices, close to 50% constituents lag benchmarks
Posted on 26th August 2014 |
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Although the benchmark indices representing the bluechip and mid-cap space have sustained strong year to date gains this year, nearly half of the index members have underperformed these barometers. In case of largecap indices — the fifty share Nifty and BSE 100 — that gained more than 26% in 2014, 45% of constituents have trailed the year to date gains reported by these respective indices. |
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ITC topples TCS to become India's most admired company
Posted on 25th August 2014 |
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Tobacco-to-FMCG conglomerate ITC has replaced Tata group's IT giant TCS as the country's most admired company on a Fortune magazine list, which has got as many as 19 new entrants including Cognizant, Birla group firm Idea Cellular and discom BSES Rajdhani Power Ltd. In the latest list for the year 2014, ITC is followed by engineering and infrastructure major Larsen and Toubro (L&T), another FMCG giant Hindustan Unilever, carmaker Maruti Suzuki and public sector bank SBI among the top five most admired companies in India. |
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TCS, Cogizant now neck and neck in North America
Posted on 22nd August 2014 |
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Tata Consultancy Services (TCS), the country’s largest IT services exporter, has regained revenue parity with its nearest competitor Cognizant in the key North American market, after trailing the latter for over three quarters, setting the stage for an interesting battle between the two companies in the world's largest technology market. |
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Kasturi & Sons to get former Britannia MD, ex-TCS CFO on board
Posted on 21st August 2014 |
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Kasturi & Sons Ltd, publisher of The Hindu, has inducted Vinita Bali, former managing director of Britannia and S Mahalingam, former CFO of Tata Consultancy Service (TCS), as independent directors. Confirming the development, KSL's board in a statement said, "Vinita Bali and Mahalingam are seasoned stalwarts of corporate India. We are privileged and delighted to have them on our board. This is a significant milestone in our institutional journey." |
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TCS' Diligenta secures deal with UK-based Friends Life
Posted on 20th August 2014 |
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Tata Consultancy Services (TCS)'s British business process outsourcing subsidiary, Diligenta, on Tuesday announced a new multi-million pound and a multi-year contract with UK-based Friends Life Management Services for its international operations. In a notification to the stock exchange, the country’s leading information technology services, consulting and business solutions company said Diligenta would configure and implement TCS BaNCS, a globally acclaimed core platform, to support the international operations of Friends Life—Friends Provident International. |
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Sensex trades 50 points higher; Sun Pharma, TCS gain
Posted on 14th August 2014 |
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Mumbai: The 30-share bellwether BSE Sensex gained 55 points on Thursday ahead of Wholesale Price Index (WPI)-based inflation data. At 09.19am, the Sensex was trading up 0.21%, or 55.14 points, at 25,974.09 points, while the National Stock Exchange’s (NSE’s) broader 50-share Nifty was trading up 0.05%, or 3.75 points, at 7,743.30 points. |
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Cognizant's guidance sparks fear; Infosys, TCS fall 2-3%
Posted on 7th August 2014 |
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Even a weak rupee have not been able to save technology stocks from sharp selling in trade today. Shares of Infosys , TCS , Wipro , HCL Tech and Tech Mahindra fell 2-3 percent intraday on Wednesday as Cognizant’s lowering its guidance sparked fears about a growth slowdown of the entire sector. The Nasdaq-listed IT firm slashed its growth guidance for the full year from 16.5 percent to 14 percent. Higher IT spending in North America and Europe helped the company clock 16.5 percent rise in quarterly revenue and net income rose to USD 371.9 million from USD 300.4 million, a year ago. |
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