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IT stocks underperform; TCS, Infosys slip 3% each
Posted on 10th October 2018
Shares of IT companies slipped in the intraday trade on Wednesday as the rupee recovered from all-time lows.

At 12:13 am, shares of TCS were trading two per cent lower at Rs 2,050 a piece on BSE. The stock dropped as much as 2.87 per cent to Rs 2,030 during the trade. On similar lines, Infosys was down over two and a half per cent at Rs 698.75. HCL Tech was trading at Rs 1,045.50, down 2 per cent.

In the sectoral landscape, the Nifty IT index was the sole loser on NSE. At the time of writing this report, the index was trading 1.75 per cent lower at 15,100, with 5 constituents in the green and rest five in the red. Wipro was the top loser on the pack, followed by Infosys, HCL Tech and TCS.

TCS is slated to announce its September quarter earnings on Thursday. A majority of the analysts expect IT companies to report robust numbers, given the favourable macro and global environment.

"We expect IT firms to report largely higher sequential EBIT margin in 2QFY19E aided by rupee depreciation, operational efficiency, wage hike largely behind and revenue growth. Among top-tier IT firms, TechM’s margin is expected to expand by 106 bps QoQ, aided by favourable currency movement and improved operational efficiency. Within our mid-cap universe, Cyient is expected to report the strongest margin performance (+184bps QoQ)," said Harit Shah, Research Analyst (IT) at Reliance Securities.
Related Companies: TATA Consultancy Services ( TCS )   

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Money laundering case: Delhi courts extends Robert Vadra’s interim bail till March 2
Posted on 16th February 2019
The Enforcement Directorate on Saturday extended interim bail protection to businessman Robert Vadra till March 2. During the course of hearing today, the ED told the court that Vadra was not cooperating the officials in money laundering probe. Vadra’s counsel, however, denied the charge.

The ED counsel also said that Vadra is accompanied by a ‘baraat’ (procession) wherever he goes, whether to ED or to court. This comes days after ED grilled him in connection with a money laundering case and a land scam in Rajasthan’s Bikaner.

Sehwag offers to take care of education of Pulwama terror attack martyrs’ children
Posted on 16th February 2019
Former India cricketer Virender Sehwag on Saturday offered to bear the educational expenses of children of all the CRPF personnel martyred in the dastardly terrorist attack in Jammu and Kashmir’s Pulwama.

On Thursday, at least 40 CRPF paramilitary troopers were killed in a terror attack while several others are battling for their lives following what is being termed as the deadliest terrorist strike in three decades in the valley.

All-party resolution: in solidarity with forces in defending India’s unity
Posted on 16th February 2019
An all-party meeting called to discuss the Pulwama terror attack on a CRPF convoy killing 40 soldiers adopted a unanimous resolution to condemn terrorism and the support it is receiving from across the border.

The meeting, convened by Home Minister Rajnath Singh, was attended by Ghulam Nabi Azad, Anand Sharma and Jyotiraditya Scindia of the Congress, Sudip Bandyopadhyay and Derek O’Brien of the Trinamool Congress, Sanjay Raut of the Shiv Sena, Jithendra Reddy of the Telangana Rashtra Samithi, D. Raja of the Communist Party of India, Farooq Abdullah of the National Conference, and Ram Vilas Paswan of the Lok Janshakti Party, among others.

SC stays death warrant against teacher convicted for raping 4-year-old girl
Posted on 16th February 2019
The Supreme Court on Friday stayed the execution of death penalty against a school teacher, who was convicted for raping a four-year-old girl in Satna district of Madhya Pradesh in June last year. A bench comprising Chief Justice Ranjan Gogoi and justices L Nageswara Rao and Sanjiv Khanna stayed the execution of the death sentence of convict Mahendra Singh Gond, which was scheduled for March 2 in a Jabalpur jail. There shall be stay of execution of the death sentence of the petitioner, the bench said. According to the prosecution, the girl was so brutally assaulted that she had to spend months in the All India Institute of Medical Sciences (AIIMS), Delhi to get her intestines realigned.

Pulwama Attack: Army deploys 9 security columns in Jammu after violent protests
Posted on 16th February 2019
The Army has deployed nine security columns with air support in Jammu following massive protests over the terror attack in Pulwama in the Valley in which 40 CRPF personnel were killed, officials said.

Earlier, curfew was imposed in the city after stray incidents of violence and torching of vehicles.

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