Today all eyes would be on Q4 corporate earnings by IT bellwether Tata Consultancy Services (TCS). Also, Infosys said on Sunday it would consider a proposal to buy back of its shares at its board meeting scheduled for April 14.
Share Bazaar News Today | Sensex, Nifty, Share Prices LIVE: Domestic equity market benchmarks BSE Sensex and Nifty 50 were trading over 3.5 per cent down on Monday, amid rising COVID-19 cases and vaccine supply crunch. BSE Sensex gave up 48,000 levels, plunging over 1,700 points while the broader Nifty 50 index fell below 14,350. Meanwhile, Infosys share price hit a new 52-week high of Rs 1,480 apiece on Monday, a day after the software services giant announced that it would consider a proposal to buyback of its shares at its forthcoming board meeting scheduled for April 14. Nifty Bank index plummeted 3.7 per cent to 31,230 levels on Monday, weighed down by losses in IndusInd Bank, RBL Bank, IDFC First Bank, Punjab National Bank, down up to 7.7 per cent.
Tata Consultancy Services (TCS) will kick off earnings season on Monday with its fourth-quarter FY21 results. TCS share price surged 11 per cent in Jan-Mar 2021, and 16 per cent so far this year (YTD). During the quarter ended March 31, 2021, the Nifty IT index jumped 6.61 per cent, as against a rise of 5 per cent in the Nifty 50 index. Analysts expect TCS to see sequential growth with revenue from two large deals with total contract value (TCV) of US 1.3bn-2.6 bn (Postbank Systems and Prudential Financial) ramp-up in multiple $50-100 million deals won in the preceding quarter.
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