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Tuesday, April 24, 2012

Markets may see flat opening

The Indian markets may begin the trade on a flat note on the back of mixed Asian cues. Headlines for the day: FII holding in BoB falls below threshold limit: RBI. Maruti Suzuki to set up R&D centre at Rohtak. Govt allows RIL-BP to survey only 5 gas fields in KG-D6 block. TRAI sets steep minimum price for 2G spectrum auction.

TCS in focus after Q4 results

On a consolidated basis, TCS' net profit, as per Indian GAAP, rose 3.3% to Rs 2895 crore on 0.4% rise in revenues to Rs 13259 crore in Q4 March 2012 over Q3 December 2011. TCS said it has become the first Indian IT company to cross the ten billion dollar milestone posting annual revenues of $10.17 billion. Commenting on the 2011-12 performance, N. Chandrasekaran, CEO and MD said, "We have carried our strong momentum through the fourth quarter to close out a year of strong growth. We have kept our focus on profitability and consolidated our market leadership." He added, "With our customer-centric approach, strong solution set and investments in game-changing technologies like mobility, big data and cloud, we remain well positioned to help our customers transform and drive growth in their businesses." Looking ahead to the financial year ending March 2013 (FY13), N Chandrasekaran said, "TCS is well prepared to achieve balanced growth across the industries and markets it operates in, given its holistic portfolio of services which are now achieving significant scale across markets."