|Bid||2,170.25 x 0|
|Ask||2,173.00 x 0|
|Day's range||2,156.70 - 2,241.65|
|52-week range||1,874.00 - 2,296.00|
|Beta (5Y monthly)||0.51|
|PE ratio (TTM)||25.12|
|Forward dividend & yield||20.00 (0.90%)|
|1y target est||N/A|
The former chairman of Tata Sons Cyrus Mistry said on Sunday he would not seek to reclaim his board seats and position as executive chairman of the salt-to-software conglomerate after a company's tribunal in December ordered he be reinstated. "I will not be pursuing the executive chairmanship of Tata Sons, or directorship of TCS (Tata Consultancy Services), Tata Teleservices or Tata Industries," he said in a statement. Mistry was sacked in 2016 from the top job at the helm of the holding company after he fell out with group patriarch Ratan Tata over corporate governance issues at Tata group companies.
"We think that Asian equities can sustain above average PE valuation levels as earnings recover and valuation remains attractive versus global equities," DBS bank said in a report this week. MSCI World index's forward P/E was about 16, at the end of last month. On the other hand, China, Hong Kong and South Korea had the cheapest shares in the region, with P/E multiples of 9.1, 10.6 and 10.8, respectively.
Asian shares eked out gains in November as hopes of a global economic recovery outweighed a cautious tone surrounding uncertainties about the U.S.-China interim trade deal. Last month, regional gains were lead by New Zealand shares , which surged 4.9%, on improving outlook for local businesses. Economic data from the United States and Asian markets released during November, showed signs of recovery in global economic growth and supported regional shares last month.
Asian stocks saw a rise in valuations in October as equities surged on signs that Washington and Beijing were nearing a truce in their 16-month-long trade war amid upbeat third-quarter earnings by heavyweights. U.S. President Donald Trump announced a "Phase 1" trade agreement on October 11, and has said he hoped to sign the deal with China's President Xi Jinping in November at a summit in Chile. Due to the rise in the P/Es, regional shares are catching up with the valuations of their global peers, Refinitiv data showed.
MUMBAI/BENGALURU (Reuters) - Tata Consultancy Services Ltd warned of a challenging second half after India's No. 1 IT services exporter missed September-quarter profit on Thursday, as a slowing global economy forced many of its clients to cut back spending. TCS kicks off India's corporate earnings season, and in the quarter ended September company profits were expected to be muted, given a slowdown in the domestic economy. Ratings agency Crisil warned in a note on Thursday that India Inc's revenue likely fell to a 14-quarter low in the three months ended September due to a sharp fall in demand across consumption segments.
Analysts have cut their earnings forecasts for Asian firms over the past month due to concerns over U.S-China trade tariffs and slowing global economic growth, Refinitiv data shows. Over the past 30 days, analysts have cut 2019 net income forecasts for Asian firms by an average of 0.4%, the data shows. Japan has led the earnings downgrades in the region, with a 1.4% cut, followed by Australia and Vietnam.
India and Malaysian equities were the most expensive in Asia on Oct. 2, based on their price-to-earnings valuation metrics, according to Refinitiv. Most other regional markets saw a rise in valuations over the past month, thanks to some easing U.S-China trade tensions and rate cuts by major central banks. A corporate tax cut announced by India's finance minister last month to boost manufacturing and revive its weakening economy propelled Indian shares higher.
Asian shares posted their first monthly gain in three months in September as a softening of U.S.-China trade tensions and major central banks' monetary easing measures averted fears about a global recession and lifted riskier assets such as Asian shares. Last month, the United States and China agreed to hold high-level trade talks in early October, raising hopes that the two top global economies can de-escalate the tariff spat before it inflicts further damage on the global economy.
Quarterly results season kicks off with Tata Consultancy Services (TCS). For the first quarter of the financial year 2019-20, the company reported a 10.8 percent increase in net profit to Rs 8,131 crore from Rs 7,340 crore in the same period last
MUMBAI/BENGALURU (Reuters) - India's biggest software services company Tata Consultancy Services Ltd said on Tuesday it was looking to sustain double-digit revenue growth this fiscal year, even as it flagged stress in global capital markets, especially in European banks. TCS, like its peers in the over $150 billion Indian IT services sector, is heavily dependent on clients in North America and Europe. "I'm really not looking for acceleration," Chief Executive Officer Rajesh Gopinathan told reporters in Mumbai after the company posted first-quarter results.
Indian shares closed higher on Monday, buoyed by gains in IT major Tata Consultancy Services Ltd, which reported a record profit for the final quarter of the year on Friday and heralded the start of corporate ...
MUMBAI/BENGALURU (Reuters) - Indian technology duo Tata Consultancy Services (TCS) and smaller rival Infosys expect continued strong growth in the new financial year, they said on Friday after posting strong fourth-quarter numbers. IT companies, now facing a margin squeeze in traditional outsourcing, are helping global clients to transform legacy businesses using digital services, automation and artificial intelligence. Analysts have previously said that digital services will be a driver for almost all top technology companies in India and could translate into a strong deal pipeline in coming quarters.
India's top IT services exporter, Tata Consultancy Services Ltd, reported a record quarterly profit on Friday, helped by a strong performance in its banking, financial services and insurance segment . ...
Tata Consultancy Services (TCS) said on Thursday it is developing solutions to drive scaled adoption of blockchain across industries, using technologies from Microsoft and R3.
Tata Consultancy Services Partners with Nanoheal to Provide Self-healing End-user Device Management Solutions, Improving Experience and Increasing Productivity