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Benchmark indices ended at over a 5-month high on Tuesday led by index
heavyweights such as Reliance Industries (RIL) and Coal India, with investor
focus now on corporate earnings, starting with Tata Consultancy Services (TCS)
later in the day.The
S&P BSE Sensex ended at 36,240, up 305 points while the
broader Nifty50 index settled at 10,947, up 94 points.Among sectoral indices, the Nifty Metal index is also trading 1.6% higher led by Jindal Stainless
(Hisar) and Hindalco Industries. Meanwhile, Nifty Realty index gained over 1.8% led by Unitech and DLF.On
BSE, the market heavyweight Reliance Industries (RIL) along with Coal India and
Wipro are top gainers among individual stocks. India’s largest software services company, on Tuesday reported
a 6.3 percent sequential rise in net profit in its quarter ended June
30, beating analyst expectations helped by strong execution led by high
growth in its energy and utilities vertical.
The company said net
profit in the first quarter is Rs 7,340 crore compared to
Rs 7,014.3 crore that analysts had estimated in a Reuters poll.Revenue rose 6.8 percent
sequentially to Rs 34,261 crore, meeting the average expectation of
Rs 34,005.6 crore according to a Reuters poll.In the March quarter,
TCS reported net profit of Rs 6,904 crore, while revenue stood at Rs 32,075
crore.The company also declared an interim dividend of Rs 4 per share.The
company said a rebound in its BFSI and retail verticals led to higher growth in
its North America market.In a conference post declaration of results, CEO and
MD, Rajesh Gopinathan said, "Last quarter, we said that we were seeing
early signs of demand uptick coming from BFSI, those early signs have been
capitalised by us."He added that the 3.7
percent growth in BFSI does not include TCS' large platform wins. Including
large platform wins, TCS said, BFSI growth in the first quarter was 5.6
percent.Growth in North America in the first quarter was 7 percent
annually compared to a 4.9 percent growth in the previous quarter. North
America revenue rose 3.7 percent sequentially.Operating margin for
the quarter is 25 percent marginally lower than
the 25.4 percent it posted in the previous quarter.
TOP GAINERS:ADANI POWER,L T,AMARRAJA
BATTERIES,IDBI BANK
MAJORLOOSERS: JSW ENERGY,BHARAT FORGE,CADILLA HEALTHCARE
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