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Tata Consultancy Services Ltd’s second-quarter profit narrowly missed street estimates, underscoring how worries about an economic slowdown continue to curtail tech spending.Net income rose 8.7% to 113.4 billion rupees ($1.4 billion) in the quarter through September. Analysts, on average, had projected a profit of 114.09 billion rupees. Sales climbed 7.9% to 596.9 billion rupees. Shares…
Wipro, the Bengaluru-based IT firm, will implement annual merit salary increases (MSI) for its employees from December 1, after delaying the hikes, originally slated for September, by a quarter due to macroeconomic challenges and margin pressures. These hikes will be assessed on an individual basis in the coming weeks, according to an ET report.Chief Human…
The energy system’s transition away from coal will leave miners with the equivalent of 100 job cuts daily through 2035, mostly in China and India. Mine closures will eliminate about 15% of global coal mining jobs by that year, about 400,000 in total, according to a new report published by Global Energy Monitor this week….
TCS Q2 results today: Tata Consultancy Services (TCS), India’s largest IT firm, announced a 9% year-on-year (YoY) increase in consolidated net profit for the quarter ending September 2023, reaching Rs 11,342 crore. Consolidated revenue showed nearly 8% YoY growth, reaching Rs 59,692 crore, according to an ET report. In terms of sequential growth, revenue had…
Indian Railways is looking to roll out a new train for the common man – and one that will run on the push-pull locomotive system. Railway Minister Ashwini Vaishnaw today took to his Whatsapp channel to share an image preview of the push-pull locomotives that are being made for the new train by Chittaranjan Locomotive…
Indian Railways’ latest project – an upgraded train for the common man – will soon be ready for trials. The new train with upgraded second class 3-tier sleeper coaches and second class unreserved coaches, is being manufactured at the Integral Coach Factory (ICF) in Chennai. The new train, the name for which is yet to…
Gold prices set to rise: The ongoing conflict between Israel and Palestine has led to a surge in gold prices, a development that jewelers feel may prompt consumers in India to sell their gold holdings ahead of the upcoming festival season. According to an ET report, this trend will be driven by individuals wanting to…
NITI Aayog is working on a comprehensive policy to maximize the benefits of bamboo, often referred to as ‘green gold‘, due to its potential in sectors such as biofuel. The aim is to encourage and support the entire bamboo value chain, from cultivation to production and development, as this tree-like grass gains popularity in infrastructure…
Rs 2,000 note exchange news: The deadline for depositing or exchanging the Rs 2000 banknote, which was set for October 7, 2023, has lapsed. However, a recent notification from the Reserve Bank of India (RBI) on September 30, 2023, states that these notes can still be submitted at some RBI regional offices for credit to…
MUMBAI: India’s economic growth forecast for the current fiscal year has been raised to 6.3% from 6.1% earlier, the International Monetary Fund said in its October 2023 World Economic Outlook (WEO) report that was released on Tuesday.The global lender expects retail inflation in the South Asian nation to rise to 5.5% in 2023/24 before easing…
