Mcap of 7 of top-10 most-valued firms erodes by ₹65,656 crore; Reliance biggest laggard

<ul><li>Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, ITC, Infosys and HDFC were the laggards.</li></ul>

IT sector: After mixed March quarter results, brokerages say 'stay selective'; near-term pressure remains

Post the March quarter results, brokerages believe that the near-term outlook for the IT space is worsening and suggest investors 'stay selective'.

Mcap of 7 of top-10 most valued firms jumps ₹1.51 lakh crore; Reliance, TCS biggest gainers

<ul><li>While Reliance Industries, Tata Consultancy Services (TCS), Hindustan Unilever, ITC, Infosys, State Bank of India and Bharti Airtel made gains in their market valuation, HDFC Bank, ICICI Bank and HDFC faced erosion.</li></ul>

TCS on foreign remittances: Keep an eye on expenses to not bust the $250,000 limit: Sudhir Nayak

The tax collection at source has increased to 20% effective from July 1 on all remittances. However, the threshold of ₹7,00,000 and the old rate of 5% will continue to apply to remittance for the purpose of education or medical treatment.

Mcap of 6 of top 10 valued firms erodes by ₹70,486.95 crore; Reliance, TCS biggest laggards

<ul><li>While Reliance Industries, TCS, HDFC Bank, ITC, State Bank of India and HDFC were the laggards from the top 10 pack, ICICI Bank, Hindustan Unilever, Infosys and Bharti Airtel were the gainers.</li></ul>

As 20% TCS on foreign remittances is set to kick in, we untangle its mystery here

The higher rate of 20 percent will not be applicable when incidental expenses related to education and medical treatment are incurred.

Market Wrap: Shares take a breather after 8-day rally; all eyes on US Fed rate decision

<ul><li>The 30-share BSE Sensex declined 161.41 points or 0.26 per cent to settle at 61,193.30. During the day, it tumbled 330.27 points or 0.53 per cent to 61,024.44. The broader NSE Nifty fell 57.80 points or 0.32 per cent to end at 18,089.85.</li></ul>

IT sector's weight in Nifty50 at 5-year low of 12.2%, FMCG's weight rises: Report

BS pointed out that the IT sector’s weight in the index has slipped to a five-year low of 12.2 percent, down from the 17.7 percent at the end of March 2022.

IT firms report weak Q4 results even as US banks say focus intact on tech investments

While YoY growth in technology expenses, as reported in March quarter earnings, for major US banks moderated, overall technology capex investments continue to be healthy, said ICICI Securities.

TCS, Infosys show common factors of pain; what lies ahead for the IT sector?

The IT sector has to deal with the slowdown in the US market. While it was expected, the slowdown was sharper and got exacerbated by the recent banking crisis in the US and Europe.

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Mcap of 7 of top-10 most-valued firms erodes by ₹65,656 crore; Reliance biggest laggard

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