TCS may lead IT earnings; forex losses may affect margins

Indian Financial Sector

In a bid to deal with stress in NBFC sector, guidelines will be issued soon for PSBs to take over pooled assets of NBFCs, a finance ministry official said. "Both Department of Economic Affairs, and Financial Services are in consultation. The eligibility norms for takeover should be out this week or latest by next week," the official said.
The RBI will come out with a mobile application to help visually challenged people in identifying currency notes. The RBI said that identification of banknote denomination is key to successful completion of cash-based transactions by visually impaired persons.
-Business Line
SBI Payment Services Pvt Ltd (SBIPSPL) is planning to double the number of point-of-sale (PoS) units deployed by it to 1.2 million by 2021- 22 (FY 22). This is part of the Co’s strategy to be a key player in the Centre’s ambitious plan to increase the number of PoS terminals across the country.
-Business Standard
Led by LIC, life insurers’ collective new premium income jumped 94% to ₹32,241.33 crore in June this year, according to data from IRDAI. All the 24 life insurers had written new gross premium of ₹16,611.57 in the same month a year ago.
-Business Line
Dewan Housing Finance Corporation Ltd (DHFL) reported a huge standalone net loss of Rs 2223 crore in the fourth quarter ended March 31, 2019 against a net profit of Rs 134 crore in the year ago quarter.
-Business Line
Dewan Housing Finance Corp Ltd (DHFL), warned that its financial situation was so grim that it may not survive. The Co said it was "undergoing substantial financial stress" and its ability to raise funds was "substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements."
-Economic Times
Thomas Cook has refuted allegations that an investigation is underway concerning its forex business breaching the Rs 14.7 crore foreign exchange reserve mark at the Cochin International Airport. As per media reports, the Air Customs Intelligence department had initiated an enquiry against Thomas Cook and had written to the RBI demanding cancellation of the Co's license after an alleged 'misappropriation' occurred while granting foreign exchange to foreign nationals at the Cochin International Airport.
-Economic Times
9 of the 10 most valued firms suffered a combined erosion of ₹ 88,609.87 crore in market valuation last week, with HDFC Bank and TCS taking the biggest knock. Reliance Industries Ltd was the lone gainer among the top-10 frontline companies, adding ₹ 11,415.21 crore to its market capitalisation (m-cap) for the week ended Friday to reach ₹ 8,11,782.20 crore. On the other hand, HDFC Bank’s valuation plummeted ₹ 22,395.4 crore to ₹ 6,54,084.95 crore. The valuation of SBI tanked ₹ 6,291.85 crore to ₹ 3,24,454.25 crore and that of ICICI Bank dropped ₹ 5,925.68 crore to ₹ 2,75,568.83 crore.
-Business Line
 -#140719 
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Hedging losses, too, are adjusted against other income. When the forex losses/gains are huge, they may be shown as ‘exceptional items’ in the P&L account. Details of items covered by ... forex losses of Rs 59 crore on account of hedging. operating margin declined by 240 basis points due to forex losses. DISCUSSION & ANALYSIS ( Thread originally started in orkut community TCS 2008 ) ME:OVER ALL THE RESULTS WERE ON THE EXPECTED LINES OF THE ANALYSTS. the international business grew by 7%. negative demand from the BFSI(banking and financial sector) predicted for the next quarter ... Read more about TCS: Forex fillip on Business Standard. TCS sprang a big surprise when it reported a huge 23 per cent sequential jump in net profit, much higher than the most optimistic estimate. For perspective, Infy had announced a 11 per cent growth on Rupee effect: For TCS, higher forex losses may take sheen off record operating margins Adith Charlie Mumbai Updated on March 12, 2018 Published on September 11, 2013 SHARE TCS of 5 per cent will also apply on LRS transactions exceeding Rs 7 lakh if a foreign exchange facility is availed through cash withdrawal at Branches or for loading Forex cards. forex losses of Rs 59 crore on account of hedging. operating margin declined by 240 basis points due to forex losses. DISCUSSION & ANALYSIS ( Thread originally started in orkut community TCS 2008 ) ME:OVER ALL THE RESULTS WERE ON THE EXPECTED LINES OF THE ANALYSTS. the international business grew by 7%. negative demand from the BFSI(banking and financial sector) predicted for the next quarter ... TCS may lead IT earnings; forex losses may affect margins 5 min read. Updated: 04 Oct 2012, 11:31 PM IST Leslie D’Monte &, Pankaj Mishra. Analysts expect IT firms to post higher volumes, see ... TCS Layoffs: Get the latest TCS layoffs news on The Economic Times. Find TCS Layoffs Reason, TCS Employee Count, TCS Workforce, TCS Job Cuts and more. Benchmarks . Nifty 12,584.25 123.2. NSE Gainer-Large Cap . United Brewerie 1,043.90 68.4. FEATURED FUNDS ★★★★ ★ ICICI Prudential Bluechip Fund Direct-Growth. 5Y Return. 10.43 % Invest Now. FEATURED FUNDS ★★★★★ Mirae Asset Tax ... tcs good support 2790, if hold it possible 2920,2945, if break 2790 then possible to 2760,2720 . Reply. 0 0. Report. Basil Parasara Oct 13, 2020 8:59AM ET. Share. Follow this post . Unfollow this ... However, since September 08 quarter, forex losses of TCS have risen significantly compared to Infosys. This can be attributed to the difference in forex strategies of the two companies. Infosys has shifted to short-term forex hedging citing increased volatility in the currency market. Further, it is using only range forward options, which limit the risk emanating from high volatility. On the ...

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Forex Market Analysis 18 August 2019 - Thoughts about Results

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