TCS and Infosys have most exposure to US regional banks: JP Morgan
Sat, Mar 18, 2023 5:50 PM

TCS and Infosys have most exposure to US regional banks: JP Morgan

A Flip by Gaurav
Get it on Google Play
As per JP Morgan, top Indian IT corporations TCS and Infosys have the most exposure to regional banks in the US that are in financial distress. Regional banks in the US account for 2-3% of their revenue, and the exposure to the recently collapsed Silicon Valley Bank might be 10-20 basis points for TCS, Infosys, and smaller rival LTIMindtree, with the Tata group business, leading.

More great flips

Gautam Adani lost Rs 3,000 cr every week over last 1 yr, wealth down 60%

Gautam Adani lost Rs 3,000 cr every week over last 1 yr, wealth down 60%

Gautam Adani suffered a Rs 3,000 crore shock every week over the last year as his wealth tumbled to $53 billion, as per M3M Hurun Global Rich List 2023 released data today. With a net loss of $28 billion, Adani also gave away his status as India's richest individual to Mukesh Ambani with an estimated net worth of $82 billion.

Open Flip
Amid cash shortage, Nigerians turn to eNaira

Amid cash shortage, Nigerians turn to eNaira

Since its introduction, the Central Bank of Nigeria's digital currency eNaira has seen a significant increase in usage. On Tuesday, March 21, Governor Godwin Emefiele reported that eNaira transactions had risen by 63% to 22 billion nairas ($47.7 million). Additionally, the total number of CBDC wallets has grown by more than double since October 2022.

Open Flip
Rakuten Bank seeking $881 Mn in Japan's largest IPO since 2018

Rakuten Bank seeking $881 Mn in Japan's largest IPO since 2018

Rakuten Bank Ltd.'s IPO is expected to raise up to 116.6 billion yen ($881 million) for the firm and its parent, making it Japan's largest listing in more than four years. Rakuten Holdings Inc.'s banking business established an indicative price range of 1,630 yen to 1,960 yen per share for its Tokyo IPO on Wednesday. The stock will begin trading on the Tokyo Stock Exchange on April 21.

Open Flip

Join our Smart Investment Community

More than 1 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon