Weekly Financial Round-Up: TCS, Equity Inflows, and Market Trends
Your daily dose of financial news in a minute plus expert advisor views.
🗞️ TCS Q3 Results: Strong Profits and Special Dividend Announcement
Tata Consultancy Services (TCS) reported a 12% rise in consolidated net profit for Q3 FY24, reaching ₹12,380 crore compared to ₹11,058 crore last year. Revenue stood at ₹63,973 crore, showcasing a 5% growth. The company declared an interim dividend of ₹10 per share and a special dividend of ₹66 per share, further boosting shareholder confidence.
Expert Take: Samir Seksaria, CFO of TCS, emphasized disciplined investments and efficient risk management as key drivers of their margin improvement.
🗞️ Equity Mutual Fund Inflows Surge Amid Market Volatility
Equity mutual funds witnessed a 14% growth in inflows in December 2024, with SIP contributions hitting an all-time high of ₹26,459 crore. Small- and mid-cap fund bets also reached record levels, reflecting increased investor confidence despite broader market outflows due to debt fund withdrawals.
Expert Take: Venkat Chalasani, CEO of AMFI, noted that investors' commitment to long-term goals highlights their growing maturity.
🗞️ Manappuram Finance Faces Profit-Booking Despite RBI Relief
Shares of Manappuram Finance slipped 7% intraday despite the Reserve Bank lifting curbs on its subsidiary, Asirvad. Jefferies raised the stock's target price to ₹190 but maintained a "hold" rating due to near-term challenges in the microfinance portfolio.
Expert Take: Jefferies highlighted that while valuations remain attractive, stress in the MFI segment could dampen earnings in the short term.
🗞️ Rupee Recovers After Hitting Record Low
The Indian rupee rebounded 4 paise to close at ₹85.87 against the US dollar, recovering from its record low. Elevated crude oil prices and a strong dollar weighed on the rupee, but optimism around government spending on infrastructure projects supported the recovery.
Expert Take: Amit Pabari, MD at CR Forex Advisors, pointed to FII selling due to global risk aversion and weaker domestic data as contributing factors.
🗞️ Swiggy Launches ‘Pyng’ App for Professional Services
Swiggy introduced its new app, Pyng Professional, allowing service providers like nutritionists, yoga instructors, and designers to list and manage their services. This move comes as part of Swiggy's push to expand its marketplace offerings.
Expert Take: Sriharsha Majety, CEO of Swiggy, highlighted the potential for Pyng and Instamart to achieve significant user adoption beyond 100 million users.
🗞️ L&T Chairman Advocates 90-Hour Work Week Amid Criticism
Larsen & Toubro Chairman SN Subrahmanyan sparked controversy by suggesting a 90-hour work week, stating employees should work on Sundays as he does. The remarks follow similar debates triggered by Infosys founder Narayana Murthy's call for a 70-hour work week.
Expert Insight: Subrahmanyan commented, "I regret I am not able to make you work on Sundays... If I can make you work on Sundays, I will be more happy."
🗞️ Addition of OTP Feature on RTI Portal to Enhance Privacy
The Department of Personnel and Training (DoPT) introduced an OTP authentication feature on January 2, 2025, to safeguard personal data in RTI applications. However, concerns were raised about delays in receiving OTPs due to high traffic on servers.
Expert Insight: The measure strengthens cybersecurity and ensures only authorized access, aligning with global best practices.
🗞️ IREDA Q3 Results Live Updates: Marginal Dip in Share Price
Ahead of its Q3 results, IREDA's stock closed 3.5% lower. Despite the dip, the PSU stock has delivered multibagger returns of over 116% in the past year. Analysts are keenly watching the asset quality in the results.
Expert Insight: Analysts predict consistent performance driven by strategic asset management and robust financial health.