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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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TCS announces Q4 results 
(Thu, 17 Apr 09:30 am) 
 
Asian stock markets have opened the day on a mixed note with stock markets in Japan (down 0.2%) and South Korea (down 0.2%) leading the losses. However, markets in Indonesia (up 0.3%) and Taiwan (up 0.3%) are trading firm. The Indian share markets have opened the day on a firm note. Barring capital goods and banking, all sectoral indices have opened in the green with stocks in the telecom and software space leading the gains.

The Sensex today is up by around 63 points (0.3%), while the NSE-Nifty is up by about 21 points (0.3%). The mid and small cap stocks have also opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.4% and 0.8% respectively. The rupee is currently trading at Rs 60.23 to the US dollar.

Software stocks have opened the day on a firm note with HCL Infosystems, NIIT Ltd and Wipro leading the gains. India's largest software services exporter TCS has announced its financial results for the fourth quarter of the financial year 2013-14 (4QFY14). During the quarter, the company's consolidated revenues stood at Rs 215.5 bn, higher by 1.2% on a quarter-on-quarter (QoQ) basis. The company witnessed 2.6% QoQ growth in volumes. At the bottomline level, consolidated net profit increased marginally by 0.5% QoQ to Rs 53.6 bn. Net profit margin contracted marginally from 25% in 3QFY14 to 24.9% in 4QFY14. For the full financial year FY14, revenues and net profit stood at Rs 81.8 bn (up 29.9% YoY) and Rs 19.2 bn (up 37.7% YoY) respectively. There were 9,751 net employee additions during the quarter.

Indian pharma stocks have opened the day mainly on a firm note with Orchid Chemicals, Wockhardt Ltd and J B Chemicals leading the gains. After recently selling off its 11% stake in Vodafone India for a windfall gain of 52%, Piramal Group flagship firm Piramal Enterprises has now agreed to acquire an effective 20% equity stake in Shriram Capital Ltd for an aggregate consideration of Rs 20.14 bn. Shriram Capital is the holding company for the financial services and insurance entities of the Chennai-based Shriram Group. It must be noted that in May 2013, Piramal had invested Rs 16.36 bn to acquire about 9.9% equity stake in Shriram Transport Finance Company Ltd (STFCL), one of the listed non-banking financial company of the Shriram Group.

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