TCS Q2 Beats Street, Net Up 24% | Sensex Falls 59 Pts

Tuesday, Oct 15, 2013 TCS Q2 BEATS STREET; NET UP 24% TO RS 4,702 CR (QoQ) LEAD STORIES TCS Q2 BEATS STREET; NET UP 24% TO RS 4,702 CR (QoQ) TCS Q4 revenues jumped 16.6% QoQ (up 34.3% YoY) to Rs 20,977 crore, driven by highest volume growth in last nine quarters. read more COAL SCAM: CBI FILES FRESH FIR AGAINST KM BIRLA The 14th FIR in the coal block allocation scam has named Kumar Mangalam Birla as an accused, along with former coal secretary P C Parekh. read more SENSEX FALLS 59 PTS AFTER HITTING NEARLY 3-YEAR HIGH Sensex ends at 20547.62, Nifty at 6089.05 as banks like ICICI, HDFC Bk, SBI fell over 2% on rate hike concerns. BSE Bankex fell 2.59% as well. read more END OF BANKING SECRECY IN SWISS BANKS  Switzerland will break the seal on its banking secrecy by signing an international agreement on fighting tax evasion today, the OECD said. read more TOP STORIES • HDFC Bank Q2 net up 27% to Rs 1,982 cr (YoY)   • Re down 29p at 61.83/$ ahead of U.S. debt deal   • Vedanta sweetens offer for stake in HZL, BALCO   • ED asks FMC for SGS, Grant Thornton reports on NSEL   • DoT panel: Rs 600 cr penalty on Idea for Spice merger   • Land acquisition Act to be enforced from Jan 1   • Telecom M&A guidelines to be in place by Nov 1   • Uniform stamp duty on stock mkt transactions likely   • Govt eases eligibility criteria for upcoming UMPPs   • RIL to invest $3.2 bn to start production of gas in D34   • Adani Grp's Aus port company to raise $1.2 bn   • Airtel, Idea, Vodafone hike 2G Internet rates   • Govt to review preferential market access policy   • SEBI allows MF distributors to use BSE infra   • Tendulkar to play 200th Test in Wankhede stadium   • U.S. Senators hint at a possible fiscal deal today   • Bailey named Burberry CEO; Ahrendts quits for Apple   • Intl Herald Tribune is now Intl New York Times   • 'Once in a decade' typhoon threatens Japan   • iPhone 5c priced at Rs 41,900, iPhone 5s for Rs 53,500   more stories TOP VIDEOS We Have Demonstrated All-Round Strong Growth Across Markets & Industries Highlighted By Efficient And Rigourous Execution: N Chandrasekaran, CEO & MD, TCS   Investors Should Have Defensive Approach To Markets, Overweight On Technology, Pharma Stocks: Nirmal Jain, Chairman, IIFL   See 25 Bps Repo Hike, 25 Bps MSF Cut In October Credit Policy: Indranil Sengupta, Chief Economist India, BoFA ML   AT A GLANCE BSE 20547.62 -59.92 NSE 6089.05 -23.65 TURNOVER Rs. 166,544 cr BSE CASH Rs. 1,817 cr NSE CASH Rs. 10,884 cr NSE F&O Rs. 143,773 cr BULLION GOLD 28770 -17 SILVER 47143 -231 CRUDE NYMEX 101.94 -0.47 BRENT 110.37 -0.67 FOREX $ / Re 61.835 +0.29 £ / Re 98.621 +0.25 € / Re 83.422 -0.05 EVENTS TO WATCH 16 October Bajaj Auto Q2 Results 17 October Deadline For U.S. Debt Ceiling HCL Tech Q2 Result 18 October FIPB Likely To Consider Tata-Sia Airline Proposal L&T Q2 Result 22 October Wipro Q2 Result Yes Bank Q2 Result 23 Oct PM To Visit China To Discuss Border Agreement & Economic Relations

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"I do believe that the (telecom) market is too crowded. We want, of course, a consolidation of the market and I think with the 100 percent FDI that consolidation will take place. You will see a lot of players who cannot compete with others actually drop out and therefore the market will consolidate." Kapil Sibal Telecommunications Minister "Implying Kumar Mangalam Birla, managed to overturn decision of Screening Committee, is preposterous. Talabira II, III mines together have been jointly allotted to Mahanadi Coal Fields, Neyveli Lignite; Hindalco has only a 15% stake in the JV. Clearances to permit mining have not been received so far; no mining has been carried out." Hindalco Spokesperson "We love print, we would love to keep print going as long as possible. I don't think it's a matter of predicting something, it's not up to us. The marketplace will decide and we will respond. As long as there are enough readers who want to buy a print newspaper-and frankly advertisers who want to advertise in it-we will publish print newspapers." Richard Stevenson Europe Editor, International Herald Tribune