Tata Consultancy Services - Latest News Update, Information, Photos & Videos on Tata Consultancy Services at Lokmat Times

The Indian rupee slumped to a new record low of 79.43 against the US dollar on Monday amid weakness in the equities markets.At the interbank foreign exchange market, the partially convertible rupee started trading on Monday at 79.30 against the US dollar against its Friday's close at 79.25.The rupee slumped to a low of 79.43 in the late morning trade. This is the new all-time low of the value of the Indian currency against the US dollar. The rupee's previous record low was 79.38 against the US dollar recorded last week.The rupee has weakened amid the selling pressure in the equities markets. Indian stock markets' key indices, Sensex and Nifty, fell on Monday dragged by heavy selling pressure in IT and telecom stocks.Tata Consultancy Services (TCS) slumped by around 5 per cent on disappointing Q1 results. The scrip was trading 4.39 per cent down at Rs 3121.40.TCS, the country's largest IT firm, on Friday, reported a net profit of Rs 9,478 crore for the first quarter of the current financial year as compared to Rs 9,008 crore reported in the corresponding period of the last year, posting year-on-year growth of 5.21 per cent. The company's profit is sharply lower than the market's expectations. The company's revenue rose 16.2 per cent year-on-year to Rs 52,758 crore for the quarter ended June 30.A widening trade deficit has put pressure on the value of the Indian currency. As per data released by the Ministry of Commerce & Industry recently, India's trade deficit widened to $25.63 billion in June. For the first quarter of the current financial year, the trade deficit has widened to $70.25 billion.The country's trade deficit has widened due to high imports. India's merchandise imports in April-June 2022-23 period stood at $187.02 billion, an increase of 47.31 per cent over $126.96 billion in April-June 2021-22.In the first quarter of the current financial year, India's merchandise export rose to $116.77 billion, recording an increase of 22.22 per cent over $95.54 billion recorded in April -June 2021-22.India's merchandise exports rose by 16.8 per cent to $37.9 billion in June 2022, while imports soared by 51.02 per cent to $63.58 leading to a trade deficit of $25.63 billion during the month.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tata Consultancy ServicesFOLLOW

Tata consultancy services, Latest News

Tata AIA Life Insurance (Tata AIA), one of India's fastest-growing life insurance companies, has tied-up with Medix, a global company in medical management solutions with a team of 300 in-house physicians, and a global quality accredited network of o ...

Tata Consultancy Services and ICICI Bank on Tuesday announced the launch of iLens, a digital-lending solutions app, which is ... ...

New Delhi, Sep 4 Leading IT firm, Tata Consultancy Services (TCS) condoled its former Chairman Cyrus Mistry's death. ... ...

Vadodara, September 3: Over the years, Parul University has been setting benchmarks amongst higher educational institutions in India, living ... ...

Tata Consultancy Services (TCS) on Thursday said it will launch an advanced research and innovation hub in Hyderabad, for incubating digital solutions for Consumer Packaged and Goods (CPG) companies. ...

New Delhi, Aug 22 Tesla and SpaceX CEO Elon Musk finally met his Twitter buddie from Pune, the ... ...

The Indian rupee slumped to a new record low of 79.43 against the US dollar on Monday amid weakness in the equities markets. ...