Saturday, October 24
Mumbai: IT major Tata Consultancy Services (TCS) led the rally in large-cap information technology shares, as investors were encouraged by the country's largest software exporter's commentary on the demand outlook after its third-quarter results.The Nifty IT Index gained 3.4% on Friday, led by a 5% jump in TCS shares. The company posted a 12% increase in net profit in the December quarter compared to the previous year.All 10 stocks in the Nifty IT Index closed higher. LTI Mindtree surged 4.6% while Tech Mahindra and HCL Technologies gained over 3.6% and 3.2%, respectively. Infosys and Wipro moved up 2.5% each. Infosys and HCL Tech are scheduled to announce their results next week."The management commentary on improving demand outlook and deal cycle along with recovery in discretionary spen
Mumbai: India will need ₹1,094 lakh crore to ensure an average annual growth rate of 8-9% by 2036 as per the government's Viksit Bharat plan, State Bank of India chairman CS Setty said.Out of this amount, ₹323 lakh crore has to come from banks while the equity market will have to generate ₹643 lakh crore, Setty said, adding that investors will have to move away from the derivatives markets to spot transactions for more depth and liquidity."For the first leg of Viksit Bharat that is up to 2036, we envisage a growth rate of at least 8% to 9% on an average. These rates can be achieved if we can increase the investment rate to 35% by 2036 (which is) approximately 200 basis points (2 percentage points) higher than the current levels of 2024. Thus, the domestic savings rates must rise from
Washington: Ten days before passing on the keys of the White House to Donald Trump, outgoing US President Joe Biden on Friday ruled out leaving from public life for now. "I'm not going to be out of sight - out of mind," Biden told reporters at the White House. Biden, 82, was responding to reporters' questions if he has decided what kind of role will he will have post-presidency. "Do you plan to speak out after you leave Washington, or are you going to follow kind of more of the Bush model where you're kind of out of sight and out of mind?" he was asked. On January 20, Donald Trump, 78, would be sworn in as the 47th President of the United States. Traditionally, US presidents after leaving office stay away from public limelight. Biden, does not plan to do so. However, he did not reveal
