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TCS(TATA CONSULTANCY SERVICES)- 2QFY18 Result Update – Encouraging Performance

Tata Consultancy Services (TCS) has delivered an encouraging performance in 2QFY18 with its USD revenue growing by 3.2% QoQ. While volume growth came in at 3.2% QoQ, CC pricing remained flat. Aided by operational efficiency and decent growth in revenue, its EBIT margin rose by 171bps QoQ (exceeding our estimate by 38bps), which led to 8.4% QoQ growth in PAT to Rs64.5bn (in-line with our estimate). From vertical perspective, the key BFSI vertical grew by 3.5% QoQ (marginally above company…

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Prataap Snacks gives strong opening with more than 30% gain at Rs 1,270

Market debutant Prataap Snack had a strong listing, with the stock listing at Rs 1,270 in the opening tick, a gain of over 35 percent. The company’s Rs 482-crore initial share sale offer has received strong response from investors, oversubscribing 47.03 times on the final day.The initial public offer (IPO) received bids for over 17 crore equity shares against the total issue size of 36,27,518 shares, excluding anchor investors’ portion. The portion set aside for qualified institutional buyers (QIBs) has…

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NIFTY 50 Redefined,these stocks are out of NIFTY 50 from today

Nifty50 stocks Bank of Baroda, Tata PowerBSE -0.19 %, ACCBSE 1.68 % and Tata MotorsBSE -0.41 % DVR are no longer part of the Nifty50. The NSE has removed these stocks effective September 29 from its benchmark 50-pack index in favour of Bajaj FinanceBSE 0.29 %, Hindustan Petroleum BSE 2.77 % Corp and United Phosphorus BSE 1.68 %. Analysts said the rejig may result in a slight increase in Nifty50 EPS estimates for FY18, but a fall in FY19 estimates…

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Wipro shares may land on negative side to have approx 10% fall in next 4-8 weeks

Earnings season is around the corner and the Q2 numbers by the US-based IT firm Accenture are encouraging. But there is no material change on fundamental side that can justify a 10 per cent surge in shares of Wipro BSE -1.10 % this quarter. What is perhaps supporting the stock is the recent buyback announcement, Nomura India said, adding that history of IT buybacks suggests that the stock may come under pressure in next 4-8 weeks as the buyback ends.In…

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Andhra Bank and State Bank of India cut their base rate down to 8.95%

Ahead of the monetary policy rate decision, State Bank of India, country’s largest lender, cut base rate by 5 basis points (bps) to 8.95 percent.One bps is one hundredth of a percentage point.“Base rate reduced from 09.00 percent p.a. to 8.95 percent p.a. w.e.f. 01.10.2017,” SBI said on its website. This comes after a couple of other public sector banks including Bank of Baroda and Andhra Bank earlier in the day announced a reduction in their base rates. Bank of…

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Oil takes positive side over demand prospective, marginal cut in supply

Oil prices rose on Friday, with both Brent and U.S. crude set to chalk up another weekly gain as investors bet that efforts to cut a global glut are working and that the demand outlook is improving. U.S. crude was up 2 cent at $51.58 a barrel at 0110 GMT. The contract is heading for a fourth consecutively weekly gain and is on track for a 9-percent advance this month.Brent rose 22 cents to $57.63 a barrel, heading for a…

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India’s economic expansion has slowed to its lowest level in three years

Prime Minister Narendra Modi came to power on a euphoric wave of promises to boost India’s economy, add millions of jobs and bring “good times” to the developing nation. Three years later, India’s economic prospects look decidedly grimmer. India’s economic expansion has slowed to its lowest level in three years. Small businesses are struggling, or even shutting down, after overhauls of the nation’s currency and sales tax system. Modi’s own allies warn of a dire outlook, with some raising the…

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Soon we will enjoy the on door delivery of Diesel and Petrol

Oil Minister Dharmendra Pradhan tweeted on Wednesday that the government will soon be starting home delivery of diesel and petrol, adding that consumers can place their order online. The oil minister, at the India Mobile Congress event on Wednesday, said that all petroleum products will now be available on e-commerce platforms. As of now, there has been no announcement on which website the consumer can place his or her order from and what the restrictions are for ordering fuel online.”We…

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Oil down as mixed sentiments are given by US data

Oil prices fell on Thursday, with U.S. crude giving up some of the previous session’s gains that were driven by a surprise fall in inventories, while Brent moved further away from recent 26-month highs.U.S. West Texas Intermediate crude (WTI) dipped 2 cents to $52.12 a barrel by 0032 GMT. On Wednesday, the contract rose 26 cents, or 0.5 percent, to $52.14 but stayed below five-month highs. Brent was down 17 cents, or 0.3 percent, at $57.73 a barrel, slipping further…

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GST revenue collection of india down by Rs 90,669 crore in month of August

Collections under the new indirect tax regime came in at Rs 90,669 crore for August, above the market estimate of Rs 80,000-85,000 crore but lower than the Rs 94,063 crore collected last month.Of the total revenue collected for August, Rs 21,067 crore came from SGST, Rs 14,402 came from CGST and Rs 7,823 crore from GST compensation cess. IGST, which is imposed on inter-state movement of goods and imports, accounted for Rs 47,377 crore of the total GST collection. In…

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