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INFY - Infosys News Story

$18.16 0.3  1.6%

Last Trade - 14/05/21

Sector
Technology
Size
Large Cap
Market Cap £54.09bn
Enterprise Value £52.08bn
Revenue £9.73bn
Position in Universe 166th / 6846

Indian shares flat; all eyes on TCS earnings, buyback decision

Wed 7th October, 2020 5:19am
BENGALURU, Oct 7 (Reuters) - Indian shares were flat in
early trade on Wednesday as investors awaited the second-quarter
earnings season to be kicked off by IT bellwether Tata
Consultancy Services, while fading hopes of a U.S. stimulus
package weighed on the broader sentiment.
    The NSE Nifty 50 index  .NSEI  fell 0.12% to 11,648.45 as of
0350 GMT, while the S&P BSE Sensex  .BSESN  was down 0.19%% to
39,500.19.
    U.S. President Donald Trump, still being treated for
COVID-19, abruptly ended talks with Democrats on an economic aid
package on Tuesday.  urn:newsml:reuters.com:*:nL1N2GX0BC
    The Trump administration on Wednesday also announced a rule
that would likely curb U.S. companies' use of skilled foreign
workers, by narrowing the definition of "specialty occupations"
eligible for H-1B visas and require companies to pay higher
wages to workers enrolled in the H-1B visa program.  urn:newsml:reuters.com:*:nL1N2GX1E0
    The Nifty IT index was trading 0.14% lower, with Infosys
 INFY.NS  and Wipro  WIPR.NS  down 1.03% and 0.92%,
respectively. 
    Shares of Tata Consultancy Services  TCS.NS , however, rose
as much as 1.8% to a record high ahead of its quarterly results,
with investors waiting for the company to give details on a
highly-anticipated share buyback.
        
($1 = 73.2930 Indian rupees)

 (Reporting by Philip George in Bengaluru; Editing by Rashmi
Aich)
 ((P.George@thomsonreuters.com; +91 8061822657; Reuters
Messaging: p.george@thomsonreuters.net))
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