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Tata Consultancy Services missed analyst expectations for the June quarter. This was due to the BSNL deal ending. Net profit grew, helped by a one-time gain. Project ramp-ups faced delays. New deal wins increased to $9.4 billion. Headcount rose, but attrition also increased. Revenue fell slightly. Net profit increased due to one-time income.
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News and Media
State Bank of India anticipates lackluster Q1 results due to margin dips and slow loan growth, while HDFC Bank projects a profit increase driven by core operating income. Overall, banks face challenges like muted loan growth and margin compression. Strong treasury gains may offer some cushion amidst weak earnings and rising pressure on margins across the sector.
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News and Media
Defence stocks experienced a downturn on Thursday, with the Nifty India Defence Index falling 2%, driven by profit booking and easing geopolitical tensions. Investors reassessed high valuations following a significant rally in the past three months. Bharat Dynamics led the decline after Motilal Oswal initiated coverage with a 'neutral' rating, citing fair valuation.
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News and Media
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