Business & Finance

HDFC Securities recommends investors to โ€˜addโ€™ TCS with 10% return potential

HDFC

New Delhi: A day after IT services major Tata Consultancy Services released its October-December quarter earnings, brokerage firm HDFC Securities has recommended potential investors to โ€˜addโ€™ its shares to the investment portfolio.
The TCS shares are currently trading at Rs 3,265, and the brokerage firm pegged a target price of Rs 3,560, which essentially means an upside potential of about 10 per cent. โ€œTCS delivered revenue beat and in-line operating performance in Q3FY23. Revenue growth of 2.9 per cent QoQ (1.2 per cent estimated) was driven by a disproportionate rise in Regional Market and Others segment, based on growth in product and Asia Pacific business,โ€ said the brokerage Institutional Equities โ€“ HDFC Securities in a report on Tuesday.
The IT services firm on Monday reported a 10.98 per cent surge in its consolidated net profit to Rs 10,883 crore for the quarter that ended December 2022 (Q3FY23). The company had posted a profit of Rs 9,806 crore in the year-ago period.

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TCS reported a 19.1 per cent year-on-year growth in its revenue for the quarter that ended in December 2022. The software giant said net income grew 11 per cent to Rs 10,846 crore during the December quarter whereas its net margin was at 18.6 per cent.
Also, it announced an interim dividend of Rs 7 and a special dividend of Rs 67 per share for its investors.
A dividend is a reward that companies often provide to their shareholders, though not mandatory, from a portion of their earnings.
The third interim dividend and the special dividend shall be paid on February 3, 2023, to the companyโ€™s shareholders, whose names appear on the Register of Members of the Company or in the Depositoriesโ€™ records as beneficial owners of the shares.
The record date fixed for the purpose is January 17, 2023. The record date is for the purpose of ascertaining the eligibility of shareholders for payment of the dividend.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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Centre appoints 3 IAS officers as Director of Census Operations for Maharashtra, Assam, Punjab, Chandigarh

ANI
census

New Delhi: The Centre has appointed three IAS officers as Director of Census Operations (DCO) and Director of Citizen Registration (DCR) in the states of Maharashtra, Assam, Punjab and Chandigarh for a period of three years.
President Droupadi Murmu has given her nod for the appointment of three Indian Administrative Service (IAS) officersโ€“ Nirupama Dange, Debajyoti Dutta and Navjot Khosaโ€“ for a period upto December 31, 2025, or until further orders. Ministry of Home Affairs made the announcement for the appointment of these officers through a notification issued on Monday.
A 2007-batch Maharashtra-cadre IAS officer Dange, was appointed to the new post with effect from December 20, 2022, for a period upto December 31, 2025, or until further orders, whichever is earlier, under the Central Staffing Scheme at her present level of Director, states the notification, adding that the Headquarters of Dange will be Mumbai, Maharashtra.

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Another notification mentions the appointment of Dutta, a 2010-batch Assam Meghalaya Cadre officer, as Director of Census Operations and Director of Citizen Registration in Assam.
The President gave her approval for the appointment of Dutta, as DCO and DCR for Assam with effect from December 20, 2022, for a period upto December 31, 2025, or until further orders, whichever is earlier, under the Central Staffing Scheme at his present level of Deputy Secretary.
The Headquarters of Dutta will be Guwahati, Assam, states the notification.
Besides, the President allowed the appointment of Khosa, a 2012-batch Kerala cadre officer as DCO and DCR for Punjab and Chandigarh with effect from December 19, 2022, for a period upto December 31, 2025, or until further orders, whichever is earlier, under the Central Staffing Scheme at her present level of Deputy Secretary.
The Headquarters of Khosa will be in Chandigarh, says the notification.

(Except for the headline, this story has not been edited by HW News staff and is published from a syndicated feed.)

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