Mon, Feb 5, 2024 2:49 PM
February kickstarts on a high note for Dalal Street, but can bulls keep it!
A Flip by Avya Verma
Tata Elxsi Ltd. on Thursday, January 9, reported a 13.3% quarter-on-quarter decline in net profit at ₹199 crore for the period ending December 31, 2024, compared to ₹229.4 crore in the September quarter. Revenue for the quarter stood at ₹939.2 crore, which was 1.7% down as compared to ₹955.1 crore in the September quarter.
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Atul Suri, CEO of Marathon Trends-PMS, is bullish on large-cap IT stocks, expecting them to lift the market due to their significant index weightage, while remaining cautious on banks. He also predicts large caps will outperform mid and small caps, and advises selective positioning in the current market.
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Tata Consultancy Services (TCS) reported a net decline of 5,370 employees in its workforce during the fiscal third quarter, a reversal after two consecutive quarters of growth, with the company now employing 6,07,354 people, the company said on January 9 as it shared the numbers for the third quarter of FY25, despite promoting over 25,000 associates and investing in upskilling.
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