Naukariadda

American Depository Receipts (ADRs) of Indian IT services companies Infosys and Wipro fell nearly 3% in US trading on Thursday, weighed by fresh concerns about the sector's outlook after Tata Consultancy Services reported its September-quarter earnings and the US government widened its crackdown on employment-based immigration programmes.Infosys ADRs were down 2.8% at $10.26 at 9 p.m. IST, while Wipro ADRs traded 2.5% lower at $1.63.The moves came after TCS, India’s largest IT services company, reported a 15% year-on-year rise in consolidated net profit to Rs 13,884 crore for the September quarter. Revenue from operations increased 11.2% to Rs 73,188 crore. TCS also reported an operating margin of 24% and annualised AI revenue of $3.1 billion, which crossed 10% of its overall revenue.TCS said its total contract value for the quarter stood at $9.6 billion, while its workforce increased to 598,056 employees. The company also declared a second interim dividend of Rs 12 per share.The e...

Foreign investors withdrew $26.3 billion from emerging-market stocks and bonds in September, marking the first monthly outflow since June, as a hawkish Federal Reserve pushed US yields and the dollar higher, the Institute of International Finance said on Wednesday, Reuters reported.Non-resident investors pulled $7 billion from emerging-market fixed-income assets during the month, resulting in the first net outflow since March, when an escalating conflict in the Middle East unsettled global markets.Emerging markets came under pressure after the Fed, led by Kevin Warsh, raised interest rates for the first time since 2023 and signalled that inflation remained a concern.The Federal Open Market Committee's decision sent US Treasury yields sharply higher, strengthened the dollar and prompted investors to retreat from riskier assets.“The pressure built in the second half of the month, as hard currency bond funds turned to outflows in the week of the FOMC decision and EM dollar credit spre...

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The Federal Reserve plans to restructure its supervision of US banks, replacing a system that gives regional Fed presidents responsibility for examinations with one that gives Washington officials clearer accountability, its top regulatory official said on Tuesday, Reuters reported.Fed Vice Chair for Supervision Michelle Bowman said the central bank will establish five geographic supervisory regions, each headed by a new “regional leader.”Officials in Washington currently set the examination policy, while the Fed’s 12 regional banks conduct and oversee the supervision of financial institutions.In prepared remarks for a conference at the St. Louis Fed, Bowman said the existing structure “disincentivised a critical link between responsibility and accountability.” She cited an independent review of Silicon Valley Bank’s collapse that she commissioned and that found Fed examiners were slow to act.“The Federal Reserve supervisory function will be realigned to implement a culture of accounta...

PTC shares surged nearly 34% on Monday after French energy and software group Schneider Electric agreed to acquire the US industrial software company for $22.6 billion in cash, Reuters reported.The deal comes as software companies seek to secure revenue streams amid concerns that advances in artificial intelligence could offer competing services at lower costs.According to the Reuters report, Schneider manufactures equipment for energy systems, including data-centre cooling technology, and provides product-management software. PTC specialises in computer-aided design and software used in industrial processes.The acquisition “creates a leading, scaled, open and interoperable industrial software and AI franchise,” Schneider said, adding that PTC’s board had approved an offer representing a 42% premium to the company’s most recent share price.“We gain substantial scale and resources to accelerate innovation, advance our Intelligent Product Lifecycle vision, and expand our business into mo...

India's ambition to become a Viksit Bharat requires an economy in which enterprises of every size can grow, wherever they begin. Over the past 12 years, our government has worked to create those conditions. GST's introduction in 2017 established a common national framework for indirect taxation. Next-gen GST carries that effort forward, drawing on nine years of implementation and the experience of taxpayers and states.Under Prime Minister Narendra Modi's vision, next-gen GST was conceived with two connected purposes: to reduce and rationalise rates, and to make compliance easier. The rate changes took effect on September 22, 2025. The next phase of process reforms will come before the GST Council shortly. Together, these efforts seek to give households relief, businesses greater certainty and taxpayers a system in which they can fulfil their obligations without avoidable difficulty.Also Read: GST 2.0 may scrap arrest powers, raise prosecution barStates have been partners th...

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