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

RT VIEWS

"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

Trade deficit data, Infy Q2 surprise positively

Infy Q2 surprise positively

The week that was Trade data, Infosys, FIIs lift Sensex, Nifty 3% in week Lower-than-expected trade deficit for September, and better-than-expected secod quarter earnings from Infosys laid the base for a 3 percent rise in equity benchmarks during the week. The Sensex advanced 612.64 points to close at 20528.59 and the Nifty jumped 188.90 points to close a tad below 6100. Read more > Growth to be focus, not margins: Infosys CEO Shibulal Infosys CEO and Managing Director S D Shibulal said margins would not be the first priority of the company at least for the next couple of quarters. It will now focus on investing in the business to take it to the next orbit of growth. August IIP comes in at paltry 0.6% Vs 2.8% in July Industrial output for August grew by a lower-than-expected 0.6 percent versus 2.8 percent in July. PMEAC chairman C Rangarajan said the data is certainly disappointing. However, he expects the number to improve the year progresses. RBI eases liquidity, cuts MSF rate by 50 bps to 9% The Reserve Bank of India (RBI) surprised the street by further reducing the marginal standing facility (MSF) rate by 50 bps to 9 percent from 9.5 percent with immediate effect. In its mid-quarter review of September 2013, the apex bank had cut MSF by 75 basis points from 10.25 percent to 9.5 percent. Cabinet decision on Coal India FPO likely by Dec: Jaiswal Coal India (CIL) divestment is likely to be finalised in the next one-two months and the government is hopeful of selling 5 percent in the world’s largest coal producer, Coal Minister Shri Prakash Jaiswal said. Government currently holds 90 percent stake in CIL and intends to sell 31.6 lakh shares through a follow-on public offering. Bharti-Walmart split, to independently operate retail biz Walmart, the world's largest retailer has decided to terminate its joint venture with Bharti retail after almost six years. Sources say there was a growing discomfort within Walmart to face the consequences for any possible violations in parts of the business that it didn't control. India suffers steep growth downgrade by IMF The International Monetary Fund (IMF) downgraded India's growth forecast for both 2013 and 2014. The economy is now projected to grow by 3.8 percent this year and 5.1 percent next. IMF sliced its growth expectations for emerging countries, but maintained its forecast for advanced economies. Indian business activity falls to 4-year low: HSBC Indian manufacturing and service sector activity fell for a third successive month in September, posting the steepest decline since March 2009. According to a HSBC report, India's Purchasing Mangers' Index (PMI) was 46.1 in September, down from 47.6 in the previous month. India's trade deficit dips to $6.76bn in Sept India's trade deficit for September fell to USD 6.76 billion from USD 17.15 billion a year ago. Exports grew 11.15 percent in September and imports declined 18.1 percent. With this improvement, PMEAC chairman Dr C Rangarajan sees FY14 CAD even lower than projected USD 70 billion. New govt to inherit worse eco situations than 1991 & 1998: Yashwant Sinha Projects worth Rs 15 lakh crore are held up due to delayed decision making, says former FM and senior BJP leader Yashwant Sinha. BJP is likely to release its manifesto for 2014 elections soon. If voted to power, its first priority would be to end policy paralysis, he said. Sebi rejigs MCX-SX board; Shah, Massey step down In the latest development in the NSEL saga, Jignesh Shah, Vice-Chairman and Shareholder Director, and Joseph Massey, managing director and CEO,MCX-SX, resigned from board of MCX-SX. Market regulator Sebi had earlier warned MCX-SX that its conditional recognition could be revoked if any of its directors were to get an adverse finding from any regulator. Healthcare The cruel economics of cancer care Every year, tens of thousands of cancer patients flock from all over the country to the Tata Memorial Hospital in Mumbai, India's premier cancer treatment institution.

 

RIl revenue crosses Rs 1 tn | IT outlook good & more top news

THE ECONOMIC TIMES Mon, Oct 14, 2013 | 06:13 PM IST

RIL Q2 PAT at Rs 5,490 crore, revenue crosses Rs 1 trillion The sales for Q2 were reported at Rs 1.03 lakh cr. While refining margins came in at 3.25%, petrochemical margins sto... IT’s Diwali! After fireworks from Infosys, will TCS surprise D-Street? TCS net profit is expected to rise 19% QoQ to Rs 4,511 crore, while dollar revenues are seen up 5.5% to $3.339 billio... Walmart will be a speck in India's retail market: P Chidambaram The US retail giant has been pitching for relaxing local sourcing norms under the foreign direct investment policy fo... September WPI inflation at 7-month high of 6.46% versus 6.1% in August The rise was driven by costlier onions & vegetables. Onion prices were up an annual 322.94% in Sept, while prices of ...

FEATURED STORIES Are you going to be fired? Tips to navigate in tough job market Rejection or a dip in career is not always a bad thing. In fact, it can set you on a growth curve that can prove more... read more Will you have to pay VAT on your flat? »  Lessons Narendra Modi can learn from Indira Gandhi »

Popular Stories As govt gears up against digital attacks, Mukesh Ambani's RIL bets big on cyber security sector Are you going to be fired? Tips to navigate in tough job market Beware! Fakes, grey market imports of reputed brands flourishing in India’s booming online retail market US headed toward 'very dangerous moment': World Bank

The election will be, in my view, a UPA versus RSS election... P Chidambaram ,Finance Minister,India

Latest Updates Rupee weakens on oil demand; high inflation hurts The partially convertible rupee closed at the day's low of 61.55/56 per dollar compared with 61.07/08 on Friday, afte... Gold holds above 3-month low on physical demand Gold traded above a three-month low as lower prices increased physical demand and US lawmakers struggled to reach an ... CPI inflation quickens to 9.84% in September: Govt Food prices for consumers last month rose 11.44 per cent from a year earlier, faster than August's 11.06 per cent ris... Govt mulls supplying packed foodgrains via ration shops In order to plug leakages in PDS and supply quality foodgrain under the new food law to 67% of the country's populati...

Market Watch 14 Oct | 06:13PM SENSEX 20607.54 â†' 78.95 NIFTY 6112.70 â†' 16.50 USD/INR 61.79 â†" -0.02 GOLD (Rs/10g.) 28990.00 â†' 625.00

MARKET NEWS Nifty ends above 6,100; TCS, RIL gain ahead of Q2 results Shares are expected to be influenced by cos reporting quarterly earnings HDFC Bank Ltd on Tuesday.... Infosys back in the game; stock likely to scale past Rs 3,500 Considering the overall performance of IT sector, the stock can be bought at current levels or preferably investors c...

Gainers Losers 14 Oct, 2013, 06:13PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low MIC Electronics Ltd. 2.82 20.00 232105 2.82 2.30 Tantia Constructions Ltd. 17.00 19.97 163063 17.00 14.30 Lakshmi Vilas Bank Ltd. 77.85 19.95 419215 77.85 65.00

FROM THE NEWSPAPER Beware! Fakes, grey market imports flourishing in online retail Before you click on the ‘buy’ button on a great online deal, make sure the product is genuine, because fakes and grey... India must prepare for unwinding: José Viñals, IMF "India has characteristics that allow it to weather storms, like the low level of external debt", says José Viñals of... Countries avoid IMF unless they are desperate: Raghuram Rajan "There's no way we are close to being a country in economic crisis... There's not a chance we will go to the IMF for ... No more a rubber stamp: Pranab a titular head whose voice matters Amid criticisms that Mukherjee’s stint as the finance minister had weakened the economy, he maintains, high growth ra... Our airline ventures can co-exist with two separate markets: Tata Whether the Tatas made the right move by tying up with two international partners for their aviation business, Nirmal...

Infosys cheers markets & IT, but IIP disappoints

THE ECONOMIC TIMES Fri, Oct 11, 2013 | 06:33 PM IST

Infosys Q2 PAT at Rs 2,407 cr; ups FY14 guidance Infosys revised its dollar revenue guidance upwards to 9-10% for FY 14. It also revised rupee revenue guidance to 21-... August IIP at 0.6% versus 2.75% in July The Indian economy has been caught in a situation which some analysts define as akin to stagflation for the past thre... IT sector on the cusp of unprecedented growth Experts say the IT sector looks promising and advise investors to stay put given the future the sector has in store f... Fasting TDP chief Chandrababu Naidu evicted, moved to RML hospital As part of TDP's protests against the formation of Telangana state, Naidu has been fasting in the Bhavan for the past...

FEATURED STORIES ET View: Infosys sees good Q2 results, well done Shibulal! The credit for steadying Infosys belongs to chief executive S D Shibulal who reoriented the company about a year ago ... read more Tendulkar: The man who turned stones into milestones »  How Houten is transforming the 122-year-old Philips »

Popular Stories With $160 mn fresh funding, Flipkart's $1.5-bn valuation comparable to P&G India, Tata Global Beverages Special 26 rerun at KPMG: Job aspirants across India taken for a ride Jet-Etihad: Inside look at the breakups and makeups of the successful deal Alarming rise of behavioural problems in toddlers as parents get away for work

We need to remain cautious. Our guidance, is a statement of facts. ... SD Shibulal ,CEO and MD,Infosys

Latest Updates Tata shares up nearly 4% on smart JLR sales Shares of Tata Motors today rose by nearly 4 per cent on the back of 17 per cent increase in global sales of its prem... Nifty is likely to test 6,150-6,200 in near term Analysts say if the banks continue to remain in the spotlight next week then the bulls will find little resistance to... Indonesia agrees to resolve bottlenecks to Indian investments Indonesia agreed to address the concerns of Indian companies investing here and is willing to set up a joint high-lev... Blacklisting of entity by State open to judicial review: SC Any decision taken by the government or its instrumentalities to "blacklist" a business entity is subject to judicial...

Market Watch 11 Oct | 06:33PM SENSEX 20528.59 â†' 255.68 NIFTY 6096.20 â†' 75.25 USD/INR 61.79 â†" -0.02 GOLD (Rs/10g.) 28439.00 â†" -418.00

MARKET NEWS Infosys closes 5% up: Time to exit and move to TCS? Considering the fact that Infosys has rallied, does it make sense to book profits in the software exporter and look a... Sensex rises for fourth day; up 256 pts on Infosys results After making a firm start at 20,559.69, the 30-share index fell to a low of 20,434.51 before settling 255.68 or 1.26 ...

Gainers Losers 11 Oct, 2013, 06:33PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low Yantra Natural Resources Ltd. 0.06 20.00 3946883 0.06 0.04 Indosolar Ltd. 3.00 20.00 179233 3.00 2.75 Tantia Constructions Ltd. 14.17 19.98 169987 14.17 12.35

FROM THE NEWSPAPER Special 26 rerun at KPMG: Imposters dupe job seekers Impostors posing as KPMG managers interviewed and hired job aspirants. They even asked the candidates to report to th... Sachin's last test: Brands look to exploit the buzz Sachin's retirement has come as a huge opportunity for brands that were in search of a high-visibility platform to pu... Walmart egg on face, govt may serve Tesco omelette A Tesco spokesperson told ET, “We are excited about the India opportunity and await policy clarity before we can take... Should India launch Tandoori, Peacock or Tiger bonds? The International Finance Corporation (IFC) launched India's first offshore rupee bond issue, which looks to raise $1... Raj Jain: The quiet strategist in the Mittal camp Raj Jain is popular because he is a good strategist, calm in nature and, most importantly, has excellent people-manag...