Tag Archives: USA

Digital Demand Drives Growth for TCS in Q2FY2019

  • Digital revenue at 28%, up 60% YoY (CC)
  • $ Revenue grows +10% YoY; Constant Currency: +11.5% YoY
  • Operating Margin at 26.5%; +144 bps expansion YoY
  • Net Profit up 11.9% YoY

Mumbai, October 11, 2018: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions firm reported its consolidated financial results according to Ind AS and IFRS for the period ending September 30, 2018.

Financial Highlights for Quarter Ended September 30, 2018

  • Revenue at $5.215 Bn, +10 % YoY
  • Net Income at $1.119 Bn, +11.9% YoY
  • Operating Margin at 26.5%, an expansion of 1.4% YoY
  • Earnings Per Share at $0.29, +11.9% YoY
  • Net Cash from Operations at $1.042 Bn i.e. 93.2% of Net Income
  • Dividend per share of Rs. 4.00
    Record date 24/10/18; Payment date 30/10/18

Business Highlights for Quarter Ended September 30, 2018

  • BFSI, Retail verticals continue to accelerate: +6.1% and +15.6% YoY respectively
  • UK and Europe lead growth: +22.8% YoY and +17.4% YoY respectively
  • Superior client additions across bands: 4 new clients in the $100M+ band, 7 in the $20M+ band, 10 in the $10M+ band, 11 in the $1M+ band
  • World’s largest Agile-ready workforce: 279,000+ employees Agile trained
  • Net addition of 10,227 in Q2: highest in 12 quarters
  • Best-in-class retention: IT Services attrition rate steady at 10.9% LTM

Commenting on the Q2 performance, Rajesh Gopinathan, CEO and MD, said, “We are very pleased with our all-round strong performance in Q2. Revenue growth was driven by expanding demand for digital transformation across verticals, and continued acceleration in BFSI and Retail. Our industry-leading digital growth, and best-in-class client metrics bear testimony to our standing as the preferred partner in our customers’ growth and transformation initiatives.

He added: Our Business 4.0 thought leadership framework, contextual knowledge, and full stakeholder capabilities differentiate us, and drive demand for our solutions and services. Our Machine First Delivery Model (MFDM™) and Location-independent Agile methods are helping customers integrate automation deep within their enterprise, and orchestrate a more effective human-machine interplay to deliver superior customer experience at scale.

N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said, “This has been a very good quarter, with strong demand in areas like analytics, cloud and automation. Our Quartz Blockchain Solution is gaining traction, and we are seeing the creation of nascent ecosystems which could transform markets. Our Enterprise Agile 2020 vision is shaping open, collaborative workplaces and Agile ways of working. This, along with MFDM, is driving intelligent automation and the discovery of a new meaning to work i.e. training the machines with the contextual knowledge, scaling businesses and creating ecosystems. This people-first approach to the machine-first world is seen as a key differentiator by our clients in driving growth, competitive edge and innovation in their businesses”

V Ramakrishnan, Chief Financial Officer, said, “It is encouraging to be back in our preferred range of profitability at the operating level. Even as we expand our investments to build on our lead in the Digital space, our disciplined operations, the improving growth trajectory and a supportive currency make our margins resilient.” Continue reading

China – Top Performing Market of 2014

Japan was the top performing market of 2013, and China is the top performing market of 2014. The plunge in crude oil prices is likely to wreak economic havoc on vulnerable oil exporters such as Russia and Venezuela (both countries face recession in 2015), oil prices have hit 5 year lows this week, falling nearly 50 percent since mid-June 2014 as weak global demand for crude oil, combined with strong supply growth from new production wells going live in 2014. South and Southeast Asian markets also featured in the top-five performing markets after registering double-digit gains. Philippines and Indonesia equities followed close behind, both rising over 22 percent. Chinese market (Shanghai Composite) has bounced back after last couple of years of weak performance, and gained 52% in 2014, on the back of policy action by Chinese govt to boost the local economy, to become the best performing Asian market, and top performer worldwide for 2014 while beating Indian markets which gained 31% in 2014. Read More…

OPEC cuts Oil Price target

Crude Oil prices are down 25% since their recent higher levels, and are currently at nearly 4 year low. Experienced energy analysts feel crude oil prices may remain low in the near term due to increasing US shale oil supply, but crude oil prices are likely to move up back to $100 per barrel.
One day after Saudi Arabia lowered prices in an attempt to hold market share in the USA, to compete with the cheaper shale oil in the United States market, the White House spokesman Josh Earnest said that the USA is monitoring the global oil demand-supply situation but has no comment on whether it might look at replenishing the Strategic Petroleum Reserve.
Meanwhile, Goldman Sachs analysts believe the crude oil surplus supply situation will remain till Q2, 2015. However, industry veterans believe crude will bounce back by Jan 2015, its just a matter of few weeks for the commodity to stabilize, and then the big short squeeze will play out, and we may see crude oil back at $100 per barrel by Jan-Feb 2015. Continue reading

TopNews-13Jan2012

  • Myanmar Frees Prominent Political Prisoners – Wall Street Journal
    Wall Street JournalMyanmar Frees Prominent Political PrisonersWall Street JournalBy PATRICK BARTA Myanmar began freeing prominent political prisoners Friday in the latest reform that the government is taking in an apparent effort to get out from under the weight of Western economic sanctions. Political detainees set free in the …Burma prisoner release begi […]
  • Obama seeks to raise US debt limit by $1.2 trillion – Telegraph.co.uk
    Telegraph.co.ukObama seeks to raise US debt limit by $1.2 trillionTelegraph.co.ukPresident Barack Obama has formally notified Congress that he plans a $1.2 trillion (£780m) increase in the US debt limit, prompting Republicans to level election-year charges that deficits are out of control. Barack Obama’s proposed increase would …Obama Starts Clock for […]
  • Video Inflames a Delicate Moment for US in Afghanistan – New York Times
    New York TimesVideo Inflames a Delicate Moment for US in AfghanistanNew York TimesKABUL, Afghanistan — A video showing four United States Marines urinating on three dead Taliban fighters provoked anger and condemnation on Thursday in Afghanistan and around the world, raising fears in Washington that the images could incite …US Marines identify Afghanistan […]
  • Official: North Korea test-fired short-range missiles – Fox News
    Fox NewsOfficial: North Korea test-fired short-range missilesFox News| AP AP Photo/KRT via APTN In this undated image made from KRT video, North Korea’s new young leader Kim Jong Un, third from right, watches jet fighters with North Korean officials at an undisclosed place in North Korea. SEOUL, South Korea – North …Kim Jong Il isn’t going anywhe […]
  • Republicans rally around Romney after hits on Bain – Boston.com
    Boston.comRepublicans rally around Romney after hits on BainBoston.comRepublican presidential candidate Mitt Romney meets supporters at Cherokee Trike and More in Greer, SC, Thursday, Jan. 12, 2012. (AP Photo/Spartanburg Herald-Journal, Michael Justus) By Thomas Beaumont and Kasie Hunt Associated Press / January 13, …Haley’s Picking Romney Shocks Tea […]
  • Missing teenager Natalee Holloway declared dead – Boston.com
    Boston.comMissing teenager Natalee Holloway declared dead. Beth Holloway is pursued by reporters following a hearing in Birmingham, Ala.,Thursday, Jan. 12, 2012. An Alabama probate judge disclosed at the hearing that he will sign an order declaring Natalee Holloway dead, more than six years after the teenager …Judge declares Alabama teen missing si […]
  • APNewsBreak: UN visit to Tehran set for Jan 28 – Boston.com
    Boston.comAPNewsBreak: UN visit to Tehran set for Jan 28Boston.comFILE – In this April 8, 2008 file photo provided by the Iranian President’s Office, Iranian President Mahmoud Ahmadinejad, center, visits the Natanz Uranium Enrichment Facility some 200 miles (322 kilometers) south of the capital Tehran. …A cease-and-desist policy, for nowHaaretzIran to […]
  • Chicago shivers as first major snowstorm of 2012 hits Midwest – Fox News
    Bloomberg: Chicago shivers as first major snowstorm of 2012 hits MidwestFox NewsCHICAGO – Chicago was bracing itself for up to eight inches of snow overnight as the first major snowstorm of the season brought treacherous conditions and the usual frustrations for travelers Thursday. As of 8:30pm local time about 560 flights at …When snow moves out, deep cold […]
  • Taiwan’s expats seen as key in presidential poll – CNN International
    BBC NewsTaiwan’s expats seen as key in presidential pollCNN InternationalBy Peter Shadbolt, CNN (CNN) — As many as 200000 people — most of them mainland China-based Taiwanese – are expected to return to Taiwan this weekend for an election viewed as critical to the future of an economy that has boomed thanks to warmer ties …China Deals Up for Judgmen […]
  • Judge advises court-martial for Wikileaks suspect – San Francisco Chronicle
    BBC NewsJudge advises court-martial for Wikileaks suspectSan Francisco ChroniclePatrick Semansky / AP In this photo taken Dec. 22, 2011, Army Pfc. Bradley Manning is escorted from a courthouse in Fort Meade, Md. An Army officer is recommending a general court-martial for Manning, a low-ranking intelligence analyst charged in the …Army Officer Recommends Tr […]

Commodities Are The Best Investment Today: Jim Rogers

23 Nov, 2010: Korea tension: Commodities are the thing to invest in, says Jim Rogers

In an interview with ET Now, Jim Rogers, Chairman, Rogers Holding, talks about the correction in global markets besides giving his views on commodities and India. Excerpts:

http://economictimes.indiatimes.com/thumb.cms?msid=6976432&width=300&resizemode=4Q1: Global markets are correcting and everyone is saying it is because of Korea. Would you endorse that thought?

First of all, global markets should be correcting about this time because they have been pretty strong recently and there is always some reason to correct. This time, it looks like it might be Korea. Whenever you have threat of war, usually everything goes down at first, then you have to figure out what to invest in after the initial collapse. In my view, the thing to invest in is commodities because if there is going to be war, it is always good for commodities and if there is no war, then commodities will rally like everything else. Continue reading