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Page 5 - Tata Consultancy Services Ltd News
IT stocks extend gain; Persistent Systems, Coforge rise up to 16% in a week
Since January 6, the IT index rallied 9 per cent, as compared to 1.6 per cent rise in the Nifty50
 "IT stocks extend gain; Persistent Systems, Coforge rise up to 16% in a week")
Silver's performance may continue if global economy avoids recession
Beware of its volatile nature and don't invest more than 5% of your investment portfolio in it
 "Silver's performance may continue if global economy avoids recession")
Net hiring in India's top four IT firms drops by 97% to 1,940 in Q3FY23
Tata Consultancy Services, Wipro, Infosys and HCL Tech- reported a combined net addition of 1,940 employees in the quarter that ended December 2022
 "Net hiring in India's top four IT firms drops by 97% to 1,940 in Q3FY23")
Better bench strength: IT hirings seen at pre-Covid levels in FY24
So far the top three IT firms have announced their third quarter numbers and the dip in attrition rates and a higher bench strength seems to be signalling towards a normal year for hiring in FY24
 "Better bench strength: IT hirings seen at pre-Covid levels in FY24")
TCS announces 100% variable pay for 70% of its employees for third quarter
TCS announced 100 per cent variable pay for its grade C2 employees, and the remaining 30 per cent or senior employees will get variable pay in line with their business performance
 "TCS announces 100% variable pay for 70% of its employees for third quarter")
We'll return to pre-Covid rhythm next year: TCS COO N Ganapathy Subramaniam
We are executing well, gaining market share in vendor consolidation and revenue will start coming in from next few quarters and we are actively participating in the growth and optimization deals
 "We'll return to pre-Covid rhythm next year: TCS COO N Ganapathy Subramaniam")
TCS Q3: Weak deal wins, negative headcount signal slowdown, say analysts
TCS Q3 results: QoQ decline of 2,200 employees in the total headcount and de-growth of 3.7 per cent in deal bookings at $7.8 billion are indicators that point towards a slowdown, analysts say
TCS dips 2% as Q3 profit misses estimates; board okays Rs 75/sh dividend
Moderation of attrition is a positive and indicates easing of supply side challenges, which is likely to support margins, going ahead, ICICI Securities said in its note.
 "TCS dips 2% as Q3 profit misses estimates; board okays Rs 75/sh dividend")
Stocks to Watch: TCS, SBI, Tata Motors, LIC, Paytm, IDBI Bank, ONGC, PVR
Stocks to Watch: TCS reported 11 per cent YoY growth in Q3 net, while revenue beat analyst expectations at Rs 58,229 crore.
 "Stocks to Watch: TCS, SBI, Tata Motors, LIC, Paytm, IDBI Bank, ONGC, PVR")
TCS headcount down by over 2,000 in the third quarter of FY23
This is the first time since Q1FY21 that the headcount has come down
 "TCS headcount down by over 2,000 in the third quarter of FY23")
Q3 earnings season kicks off: TCS revenue rises 19%, net profit up 11%
Revenue beat estimates in Q3, profit falls short; N America demand 'vibrant' but challenges remain in Europe
 "Q3 earnings season kicks off: TCS revenue rises 19%, net profit up 11%")
TCS reports 11% net profit jump in Q3, announces dividend of Rs 75 a share
It will have an interim dividend of Rs 8 per share and a special dividend of Rs 67 per equity share
TCS, HCL Tech, Infy: How to trade IT stocks ahead of Q3 results?
The overall trend in the IT stocks have remained laggard and continues to bear high risk element.
 "TCS, HCL Tech, Infy: How to trade IT stocks ahead of Q3 results?")
Stocks to Watch: TCS, Paytm, PTC, Lodha, Heritage Foods, Electronics Mart
Stocks to Watch: TCS and other IT stocks in focus, as the Tata Group IT major will be reporting its Q3 earnings on Monday.
 "Stocks to Watch: TCS, Paytm, PTC, Lodha, Heritage Foods, Electronics Mart")
TCS Q3 preview: Margins to expand sequentially; Revenue may grow 16-18% YoY
TCS Q3 results preview: As per brokerage estimates, TCS may post up to 18 per cent Yo revenue growth to an average of Rs 57,446 crore. The bottom line could rise 10-16 per cent to around Rs 11,046 cr
TCS pushes the pedal to get self-driving cars on road with new algorithms
The algorithms are trained and tested using 300,000 kilometres of real time vehicle data
 "TCS pushes the pedal to get self-driving cars on road with new algorithms")
Stocks to Watch: TCS, Tata Motors, Maruti, Coal India, JSW Group, RITES
Stocks to watch today: Tata Motors reported 10 per cent YoY increase in domestic December sales at 72,997 units as against 66,307 units sold last year
 "Stocks to Watch: TCS, Tata Motors, Maruti, Coal India, JSW Group, RITES")
Accenture's retained FY23 guidance hints slowdown for IT firms: Analysts
For FY23, Accenture has maintained its 8-11 per cent growth guidance. This is reportedly the first time since FY17 that the company has not upgraded its full-year guidance after the first quarter
 "Accenture's retained FY23 guidance hints slowdown for IT firms: Analysts")
Nifty IT index slips 5% in two days on earnings, valuation worries
Recently, HCL Technologies said that its FY23 revenue could be at the lower end of the guidance; Credit Suisse warned valuation-led correction in these stocks amid US macro headwinds.
 "Nifty IT index slips 5% in two days on earnings, valuation worries")
IT stocks tumble as Credit Suisse warns of valuation-led correction
Indian IT valuations, the brokerage and research house argues, are at large premium to history despite material correction from the top
 "IT stocks tumble as Credit Suisse warns of valuation-led correction")
