Tuesday, 10 July 2018

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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.

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TOP GAINERS:ADANI POWER,L T,AMARRAJA BATTERIES,IDBI BANK
MAJORLOOSERS: JSW ENERGY,BHARAT FORGE,CADILLA HEALTHCARE

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