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[ad_1] New Delhi:  Nine of the 10 most valued firms faced a combined erosion of Rs 1,87,808.26 crore in market valuation last week, with HDFC Bank and Reliance Industries taking the biggest hit amid an overall weak trend in equities. Last week, the BSE benchmark tumbled 1,538.64 points or 2.52 per cent amid concerns that the US Federal Reserve might raise interest rates further to curb inflation. Fresh foreign fund outflows also dented investor sentiments. Barring ITC, all 10 firms, including Tata Consultancy Services (TCS), Infosys, ICICI Bank and Hindustan Unilever, were the laggards. HDFC Bank's valuation declined by Rs 37,848.16 crore to Rs 8,86,070.99 crore at close on Friday. The market valuation of Reliance Industries fell by Rs 36,567.46 crore to Rs 16,14,109.66 crore. The valuation of TCS tumbled Rs 36,444.15 crore to Rs 12,44,095.76 crore and that of HDFC tanked Rs 20,871.15 crore to Rs 4,71,365.94 crore. The market capitalisation (mcap) of ICICI Bank fell by R

[ad_1] Last Updated: July 31, 2023, 08:23 IST Stocks to Watch:  Nifty futures traded 26 points, or 0.13 per cent, higher at 19,816, signaling that Dalal Street was headed for a positive start on Monday. Here’s a slew of stocks that will be in focus today for various reasons. Results Today: Shares of Maruti Suzuki, Adani Green, Power Grid, GAIL, Adani Transmission will be in focus today as they gear up to announce their first fiscal quarter earnings results. TCS: The new CEO of TCS, K Krithivasan, has revamped the operating structure for senior management and changed some of the SMP (senior management personnel) members. It also elevated Harrick Vin as the new chief technology officer and Abhinav Kumar as the interim head for marketing. SBI Cards: SBI Cards and Payment Services reported a slide in first-quarter profit as elevated credit costs and margin compression offset growth in revenue. Profit after tax for the June quarter fell 5.36% to Rs 5.93 billion. IDFC First Bank: ID

[ad_1] NEW DELHI: HDFC Bank on Thursday became the second most valuable company by market capitalisation, overtaking IT behemoth Tata Consultancy Services. At the close of trade, HDFC Bank, which recently completed the merger of its mortgage financier parent HDFC into itself, commanded a market capitalisation (mcap) of Rs 12,72,718.60 crore, which was Rs 5,826.95 crore more than TCS ' Rs 12,66,891.65 crore valuation on the BSE. Shares of HDFC Bank ended at Rs 1,688.50 apiece, up 0.22 per cent on the BSE. During the day, it climbed 0.36 per cent to Rs 1,690.95. However, shares of TCS dipped 0.25 per cent to end at Rs 3,462.35 each. During the day, it fell 1 per cent to Rs 3,436. HDFC, the parent of HDFC Bank, merged into the lender on July 1. The USD 40 billion merger, the largest such deal in the Indian corporate history, was driven by a changing regulatory landscape, which limited the advantages for HDFC continuing as a non-bank lending entity. Reliance Industries is the

[ad_1] Last Updated: July 12, 2023, 08:29 IST Stocks to Watch on July 12:  Nifty futures traded 9 points, or 0.05 per cent, lower at 19,528, signaling that Dalal Street was headed for a negative start on Wednesday. Here’s a slew of stocks that will be in focus today for various reasons. Results today: 5Paisa, Hathway Cables, HCL Technologies, Steel Strips Wheels and TCS among 10 companies scheduled to announce June quarter earnings on Wednesday. TCS: Wage hikes to erode margin in Q1FY24; The weakness may come on account of a worsening demand environment, which is leading to cancellation and delay in projects, a longer sales cycle and slower revenue conversion. HCL Tech: The IT firm will likely report muted sequential growth in revenue for the June quarter (Q1FY24) amid a persistently weak global demand environment and weakness in the company’s engineering and R&D (ER&D) business, as per analysts. Delta Corp, Nazara Technologies: The Goods and Services Tax (GST) Council

[ad_1] India’s IT majors Tata Consultancy Services (TCS) and HCL Technologies have announced their first quarter (Q1 FY24) results, with both, as per analysts, showing resilience in navigating the challenging global macroeconomic headwinds and recessionary trends. While TCS has demonstrated strong performance in certain areas, HCL Tech showcases promising growth potential and notable developments. TCS on Wednesday reported a 16.8 per cent jump in its consolidated net profit to Rs 11,074 crore for the June 2023 quarter. Its consolidated revenue increased nearly 13 per cent YoY to Rs 59,381 crore. HCL Technologies declared Rs 3,534 crore net profit in Q1 for the financial year 2023-24 along with an interim dividend of Rs 10 share. It announced a 7.6 per cent year-on-year increase in net profit for the first quarter which ended on June 30. While shares of TCS were trading 2.76 per cent or Rs 89.90 higher at Rs 3,350 apiece on the BSE during the trade on Thursday, HCL Technologies w