News

Tata Consultancy Services (TCS), India’s largest IT services provider’s fourth quarter numbers for the FY2016 will be one of the most awaited event today for two reasons. The company’s share price was trending at Rs 2,469.45 per share, down by 2.13% as the markets opened. The first will be for the performance of the company, especially after its competitor Bengaluru-based Infosys has reported a stellar performance, but more importantly, the Street and analysts will want to hear the management on the $940 million notice fine on the company by a Federal Jury in the US. Based on the comment made by management in the last few months, this quarter could well be bottoming out quarter in terms of performance. The company has been missing expectations for the last six quarters, owing to softness in telecom, oil and gas and its insurance platform Diligenta. One also has to remember that Q3 and Q4 are traditionally weak quarter for the industry and for   TCS   in particular ...

IT services major, Wipro, reported a 2% rise in profits to Rs 2,243 crore for the third quarter, while revenue grew 7.23% to Rs 12,860 crore. Wipro, the third largest IT services firm, showed IT services revenue grew sequentially or over the previous quarter by 0.3% to $1.84 billion, meeting its forecast and analyst expectations. Operating margins, calculated as sales minus costs, stood at 20.2%, which was impacted marginally due to spending on backup plans during the Chennai floods. The company had reported profits of Rs 2,203 crore on revenues of Rs 11,992 crore in the October to December quarter in 2014.  Read Articles