Tata Consultancy Services (TCS), India’s largest information technology services provider, entered the financial year 2016-17 with a strong growth. The first quarter numbers beat Bloomberg estimates on both topline and profit numbers.

Net profit for the quarter at Rs 6,318 crore was up 10.6 per cent from Rs 5,708 crore in the corresponding quarter last financial year. This was the second time when TCS surpassed Street estimate on profitability, after missing it for six quarters. Sequentially, profits were down marginally by 0.4 per cent.

Shares of automobiles companies are on a roll with the S&P BSE Auto index and Nifty Auto index hitting their respective lifetime highs in an otherwise weak market on expectation of a recovery in second half, driven by a normal monsoon and demand post the implementation of the 7th Pay commission.

Hero MotoCorp (Rs 3,289) and Mahindra & Mahindra (Rs 1,485) have touched record highs, while Tata Motors (Rs 501) hit a fresh 52-week high on the BSE during intra-day trade. Bajaj Auto (Rs 2,695) and Maruti Suzuki India (Rs 4,450) were trading close to their 52-week highs.

After showing impressive numbers for past few quarters, Infosys, India’s second largest IT services company seems to have lost the pace of growth in the quarter ended June 30, 2016.

In the quarter ended June 2016, the Bengaluru-headquartered company, for the first time in the last four quarters, missed the revenue guidance for the year ahead as it saw customers reduce discretionary spending on software projects. The company’s share price was down by over 8% in the early trade on the BSE at around Rs 1083.15.

Japanese car maker Honda will recall over 1,90,000 units of previous generation of Accord, CR-V, Civic, City and Jazz as part of the company's precautionary global recall campaign, concerning Takata front airbag inflators. Bulk of the 1,90,578 vehicles being recalled is the City. This will be the company's seventh recall in the Indian market in last two years.

The government today extended the deadline for payment of tax and penalty under the black money disclosure scheme and allowed declarants to pay the amount in three instalments by September 30 next year.

The first instalment of 25 per cent under the Income Declaration Scheme 2016 will have to be paid by November 2016 to be followed by another instalment of 25 per cent by March 31, 2017. The remaining amount, according to a finance ministry statement, will have to be paid to the exchequer by September 30, 2017.

Bengaluru: Infosys Ltd’s head of cloud, infrastructure and security unit, Samson David has resigned, a setback for chief executive officer Vishal Sikka who earlier this year entrusted David with the additional responsibility of heading artificial intelligence platform Mana.

David will join Hewlett Packard Enterprise Co. as senior vice-president, enterprise services delivery, and will report to Mike Nefkens, executive vice-president of HPE Enterprise Services, said a spokesman for HPE.

Ahead of the first quarter results of Reliance Industries, that is due on Friday, top brokerages and analysts have predicted an average rise in net profits of 5.5 per cent over the like period of last year, with the maximum jump seen at 10 per cent.

Sequentially, though, all the 16 such forecasts by firms like Citi, HSBC, Nomora, JP Morgan and Kotak, see a fall ranging between 5.5 per cent and 15.5 per cent (for the first quarter of this financial year over the last quarter of the previous year. The average is 11.3 per cent.

ONGC has hired US-based petroleum reserves certifier Ryder Scott to review the hydrocarbon present and recoverable in the 1,850 sq km GSPC-owned block KG-OSN-2001/3 in the East Coast.

This is in the wake of the central government-owned explorer, which is negotiating a deal to pick up a majority stake in the GSPC deep water block, finding that the actual hydrocarbon that could be taken out is far less than the presumed 7.6 trillion cubic feet (tcf) — probably not even half that.

Shares of Tata Consultancy Services (TCS) were trading in green in the morning trade on Thursday ahead of its earnings for the first quarter ended June 30, 2016.

At 10.10 am, TCS was trading 0.35 per cent up at Rs 2,500. The scrip opened at Rs 2488.50 and has touched a high and low of Rs 2,512 and Rs 2472.05, respectively, in trade so far.

The domestic equity markets opened flat on Thursday, tracking a similar trend in the Asian markets.

MSCI's broadest index of Asia-Pacific shares outside Japan, were down 0.1% but the index was still at an eight-month peak; Nikkei was flat, a Reuters report said.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.