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<ul><li>Infosys announced that it will consider buyback of equity shares during its board meeting set to take place tomorrow, on April 14.</li><li>Analysts estimate that shares may be bought up at ₹1,600 to ₹1,650 a piece.</li><li>According to them, the buyback is not because the management feels that Infosys’ shares are undervalued but because it is as per the company’s payout policy.</li><li>Infosys has thus far given out around 50% in dividend as what is left over will be spent on this buyback.</li></ul>Indian information technology (IT) giant, Infosys, may announce a buyback of equity shares after its board meeting scheduled for April 14. And, analysts estimate that the shares will be picked up between ₹1,600 to ₹1,650 a piece. That's a 14% premium on the closing price of Infosys on April 13. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/5841634"></div>]]></cdata></div> “If you see, Infosys usually spends 85% of its free cash flow five year’s average. This year they've given out around 50% in dividend. The rest of the amount, which comes up to around ₹11,500 to ₹12,500 crore, they will spend on this buyback,” explained Sanjiv Hota from Sharekhan. Apurv Prasad from HDFC Securities told Business Insider India that the Bengaluru-based tech services major may buy fewer shares this time around. <cmsannotation type="cmsannotation" annotationid="Why is Infosys buying back shares?" comment="subhead" text="Why is Infosys buying back shares?">Why is Infosys buying back shares?</cmsannotation> A buyback is when a company purchases free floating shares in the market. A process in which the promoters participate too. It is normally done at a price higher than what is prevailing in the market. Analysts estimate that Infosys will offer between 10% to 15% premium. Companies normally offer a buyback of shares to stem a fall in share prices, as many did after the pandemic rocked markets in March last year. However, since the government announced that dividends will be taxable as per the effective rates rates for corporate shareholders — more commonly known as promoters — in July 2020, some companies have opted for the buyback route to save tax. “Dividends are not the most efficient method of payouts for a certain set of investors because of the much higher slab rates,” explained Prasad. Dividends are subject to ordinary income tax whereas buybacks are taxed at a capital gains tax rate, which is lower. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Highest income tax slab </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Short term capital gains tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Long term capital gains tax </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr></tbody></table> It also helps the company get rid of any excess cash on the books. It’s common practice for leading companies to have a regular buyback strategy in place. “What happens is that if you don’t give the buyback, there’s a lot more cash which is not yielding high returns,” Prasad explained. Infosys is not alone in the balancing act of paying out dividends and offering buybacks. Most IT companies do a little bit of both depending on their shareholder profile. “It’s a tender route where the promoters also end up participating,” said Prasad. TCS, for instance, returned $4.17 billion of cash to shareholders through buybacks and dividends this year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/adani-ports-share-price-big-fall-in-two-days-amid-rising-covid-19-cases-and-myanmar-military-controversy/articleshow/82046212.cms">Adani Ports’ shares down 14% in two days as market fears a slump in global trade and Myanmar issue denting its image</a> <a href="https://www.businessinsider.in/business/news/gautam-adani-and-mukesh-ambani-cumulatively-lost-nearly-7-billion-as-the-markets-plunged/articleshow/82043202.cms">Gautam Adani and Mukesh Ambani cumulatively lost nearly $7 billion as the markets plunged</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-has-broken-many-records-in-the-last-the-three-months-from-revenue-to-new-deals-to-new-hiring/articleshow/82034522.cms">TCS has broken many records in the last three months — but that isn't good enough for the market</a> <a href="https://www.businessinsider.in/finance/news/rbis-g-sap-1-0-is-certainly-a-much-needed-demand-lever-to-support-the-government-borrowing-programme/articleshow/82042416.cms">RBI’s G-SAP 1.0 is certainly a much needed demand lever to support the government borrowing programme</a>

Analysts estimate that Infosys may offer buyback of shares at ₹1,600 to ₹1,650 apiece

<ul><li>The Indian rupee hit ₹70.84 against the US dollar. </li><li>This may be bad news for some but good news of Indian IT companies that bill in dollars. </li><li>It could increase revenue for them of what was otherwise shaping up to be a 'glum quarter'. </li></ul>The Indian government is trying to rein in the fall of the rupee’s value against the US dollar, that hit ₹70.84 when the markets closed yesterday. While this may be bad news for importers, people looking to travel overseas and India’s foreign exchange reserves — it could spell good news for <a href="https://www.businessinsider.in/wipro-profit-growth-beats-tcs-and-infosys/articleshow/70262851.cms">Indian IT companies</a> on account of larger exposure to US markets and dollar billing. <keyword id="149348" type="PERSON" weightage="20" keywordseo="weaker-rupee">Weaker rupee</keyword> means stronger revenue Tech giants like Tata Consultancy Services (<a href="https://www.businessinsider.in/after-becoming-the-third-largest-it-service-brand-in-the-world-tcs-surpasses-ibm-in-market-cap/articleshow/69741769.cms">TCS</a>), HCL Technologies, <a href="https://www.businessinsider.in/yes-bank-wipro-and-other-big-earnings-keep-indian-markets-on-the-edge/articleshow/70255005.cms">Wipro</a> and <a href="https://www.businessinsider.in/tata-lic-infosys-sbi-and-mahindra-are-among-the-top-10-indian-corporate-brands/articleshow/70257037.cms">Tech Mahindra</a> were looking at a ‘glum quarter’ after missing their revenue goals in June, according to Kotak Institutional Equities Research. Even Infosys, barely met its target. “Cost increase, higher visa applications and large deal transition costs contributed to the pressure," stated the report. Yet, there is a light at the end of the tunnel, thanks to rupee fall. More than 80% of the total business done by top IT services companies in India comes from overseas markets, which is billed in currencies other than the rupee — usually the US dollar. This year, Infosys increased its revenue growth guidance for FY20 from 7.5 to 9.5% to 8.5 to 10%. However, Wipro expects its revenue to either decline by a percent to grow by a percent. TCS doesn’t issue an annual guidance but analysts expect double digit growth revenue from the company in FY20. But the real question for the company is whether or not it will meet its ambitious target of a 26-28% margin guidance, which it hasn’t been able to meet over the past three years due to currency pressures. Now, these pressures seem to be easing. Profit or risk Tech companies, like all others with exposure abroad, tend to hedge their exposure in case of a fall or a gain — usually at around 30%. In spite of that, some benefits might seep into tech companies’ balance sheets. Even if profit isn’t seen in the short run, a weakening rupee offsets some of the key risks faced by IT firms. "This includes sharp cross country movement that could appreciate the value of the rupee, pricing pressure and lower margins," according to Edelweiss Securities Limited. IT companies in India have already been hit by the Union Budget’s decision to impose a 20% tax on <a href="https://www.businessinsider.in/tcs-wipro-infosys-and-it-companies-hit-by-budgets-buyback-shares-tax-and-increase-in-minimum-public-shareholding/articleshow/70136810.cms">buyback shares</a> making their financial performance all the more important. Amidst a host of bad tidings, <keyword id="841408" type="PERSON" weightage="20" keywordseo="falling-rupee">falling Rupee</keyword> could be a morale booster. See also: <a href="https://www.businessinsider.in/the-global-trade-war-has-morphed-into-a-currency-war-heres-why-thats-a-scary-proposition-for-markets-/articleshow/70572130.cms">The global trade war has morphed into a currency war. Here's why that's a scary proposition for markets.</a> <a href="https://www.businessinsider.in/china-takes-measures-to-keep-the-yuan-from-plummeting-further-stabilizing-markets-after-2019s-worst-rout/articleshow/70556237.cms">China takes measures to keep the yuan from plummeting further, stabilizing markets after 2019's worst rout</a> <a href="https://www.businessinsider.in/stocks-plunge-as-global-recession-fears-rattle-investors/articleshow/70575112.cms">Stocks plunge as global recession fears rattle investors</a>

Weaker rupee might turn things around for TCS, Wipro and Infosys

<ul><li>At 7:45 am, SGX Nifty was down by 50 points, or 0.38%.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a></li></ul>Indian stock markets could see a bounce back on Tuesday after the <a href="https://www.businessinsider.in/stock-market/news/sensex-sees-2-weeks-of-gain-wiped-out-in-half-a-day-plunges-by-over-1400-points/articleshow/79838339.cms">massive plunge on Monday</a>. At 7:45 am, SGX Nifty was down by 50 points, or 0.38%, suggesting that the Indian stock exchanges will have a tepid start to the day. This is at a time when <a href="https://www.businessinsider.in/stock-market/news/us-stocks-close-mixed-as-stimulus-optimism-clashes-with-new-virus-strain/articleshow/79895509.cms">US stocks had a mixed day</a> as stimulus optimism clashed with the new virus strain. The Dow Jones closed in the red, down by 0.67%, while S&amp;P 500 was down by 0.21%. These are the stocks to watch out for during the trading session today <keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> Infosys has announced a deal with German automotive giant Daimler AG. As part of the deal, Infosys will take over Daimler AG’s employees in Germany, the US and the Asia Pacific region. <keyword id="10862" type="CITY" weightage="20" keywordseo="Wipro">Wipro</keyword> Wipro has announced a share buyback program which will open on December 29 and close on January 11. Additionally, the <a href="https://www.businessinsider.in/business/corporates/news/wipro-buys-the-it-operations-of-a-german-food-services-firm-for-700-million/articleshow/79909949.cms">IT company has also announced a deal with German multinational company Metro AG</a>. According to the ₹9,500 crore worth buyback offer, Wipro plans to purchase shares at ₹400 per share, which is 10% more than yesterday’s (Dec 22) closing price of ₹364, looking to mop up 23.75 crore shares from the market. Additionally, Wipro has signed a $700 million deal with Metro AG that will bring over 1,300 employees of the German company to Wipro. Mahindra &amp; Mahindra Mahindra’s South Korean subsidiary SsangYong Motor has filed for bankruptcy after failing to repay loans worth ₹680 crore. Jubilant FoodWorks The company has announced “The Unthinkable Pizza” based on plant protein. This comes after it had announced its foray into biryani (an Indian rice-based dish) that sent its stock soaring to a record high. <keyword id="6359783" type="ORGANIZATION" weightage="20" keywordseo="bajaj-auto">Bajaj Auto</keyword> Bajaj Auto has signed a memorandum of understanding (MoU) with the Maharashtra government to set up a manufacturing unit with an investment of ₹650 crore. Punjab National Bank State insurer Life Insurance Corporation of India has increased its stake in the bank from 4.12% to 7.73%. Majesco One of the hottest stocks in the news recently, it will be worth watching out for today as its promoter Ketan Mehta and others sold 10.5 lakh shares while Atul Limited acquired 2.14 shares. LT Foods The company received a boost in its ratings from CRISIL, who revised its outlook to ‘positive’ from ‘stable’. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/apple-rises-3-after-report-says-the-company-aims-to-produce-electric-cars-by-2024/articleshow/79872303.cms">Apple's market value grows by $102 billion after report says the company aims to produce electric cars by 2024</a> <a href="https://www.businessinsider.in/stock-market/news/us-stocks-close-mixed-as-stimulus-optimism-clashes-with-new-virus-strain/articleshow/79895509.cms">US stocks close mixed as stimulus optimism clashes with new virus strain</a> <a href="https://www.businessinsider.in/stock-market/news/billionaire-investor-sam-zell-questions-tesla-and-bitcoin-predicts-workers-will-return-to-offices-and-warns-the-us-dollar-could-be-replaced-as-the-worlds-reserve-currency-in-a-new-interview-here-are-the-15-best-quotes-/articleshow/79843473.cms">Billionaire investor Sam Zell questions Tesla and Bitcoin, predicts workers will return to offices, and warns the US dollar could be replaced as the world's reserve currency in a new interview. Here are the 15 best quotes.</a>

Top stocks to watch – Infosys, Wipro, Jubilant FoodWorks, Bajaj Auto, Majesco, and others

<ul><li>The 30-share BSE index was trading over 396 points, and the broader NSE Nifty rose 0.91% at 9:45 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex rallied nearly 400 points in opening trade on Monday, led by gains in index-heavyweights HDFC, Infosys and Reliance Industries amid largely positive cues from Asian markets. The 30-share BSE index was trading over 396 points, and the broader NSE Nifty rose 0.91% at 9:45 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ITC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gail </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Titan </td></tr></tbody></table>*as of October 12, 9:55 am These are the top stocks in news today. Vedanta locked in 10% lower circuit The shares of Vedanta were locked in a 10% lower circuit after its buyback offer is deemed to have failed as per the terms of the delisting regulations. This comes after its promoter Vedanta Resources did not receive the required number of shares to delist the firm. Wipro trades in green The shares of Wipro were trading barely a percent higher ahead of its earnings today and the buyback announcement due tomorrow. Glenmark Pharma cracked 2% The shares of Glenmark Pharma lost 2% after the company said that its Umifenovir did not show superior clinical outcomes when added to Favipiravir treatment for moderate coronavirus. Premier Explosives locked in 5% upper circuit The shares of Premier Explosives were locked in 5% upper circuit for the second time in a row after the company said it had bagged ₹82.83 crore order from a state-run Singareni Collieries Company in Telangana for the supply of SMS/SME explosives and accessories. Shilpa Medicare down 7% The shares of Shilpa Medicare were down 7% after its Telangana-based Jadcherla facility received a warning letter from the US drug regulator on October 9. The company said that it will be engaging with the agency and is fully committed to resolving this issue at the earliest. Future Retail shares lost 7% The shares of Kishore Biyani led Future Retail was down 7% after <a href="https://www.businesstoday.in/current/corporate/future-ril-deal-amazons-arbitration-proceedings-against-future-group-may-start-in-nov/story/418465.html">reports </a>surfaced that arbitration proceedings between e-commerce giant Amazon and Future Group are expected to start in November. The <a href="https://www.bloombergquint.com/law-and-policy/reliance-future-group-deal-whys-amazon-objecting-and-is-it-likely-to-succeed">reports </a>also claimed that Amazon might succeed in the arbitration proceedings against Future Group. ITC shares gain 5% The shares of hospitality and cigarette giant ITC were up 5% after CLSA upgraded ITC rating from outperform to ‘Buy’ with a target price of ₹220 per share. CLSA says FMCG is the new value driver and long-term positives are unfolding as revenue diversifies. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-vedanta-wipro-rites-mazagon-dock-uti-amc-glenmark-pharma-and-others/articleshow/78612041.cms">Top stocks to watch — Vedanta, Wipro, RITES, Mazagon Dock, UTI AMC, Glenmark Pharma, and others</a> <a href="https://www.businessinsider.in/science/space/news/china-launches-earth-observation-satellite-amid-border-tensions-with-india/articleshow/78613147.cms">China launches Earth observation satellite amid border tensions with India</a>

Top stock movers —ITC, Future Retail, Vedanta, Wipro, Premier Explosives, Shilpa Medicare and more

<ul><li>The stocks of the top Indian IT services companies are the top gainers in Nifty 50 today morning after Tata Consultancy Services (TCS) announced its earnings late last evening. </li><li>The CEO of India’s largest IT services company said that TCS was in the first phase of a multi-year ‘technology transformation’ cycle. </li><li>Wipro's rally may also stem from its announcement of considering share buyback at the next board of directors meeting.</li></ul>IT stocks continue to rally for a second week after India’s top IT services company announced that there is a multi-year technology transformation cycle in the works. “What we are witnessing right now is the start of the first phase,” said TCS CEO <keyword id="1422411" type="PERSON" weightage="20" keywordseo="Rajesh-Gopinathan">Rajesh Gopinathan</keyword> during the earnings call yesterday. TCS’ own share price is up by more than 4% alongside Wipro, HCL Tech and Infosys. In fact, these four companies are currently the top gainers in the Nifty 50 today morning. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change in share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.79% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.78% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.75% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.24% </td></tr></tbody></table>Source: NSE, Share prices as of 11:00am Wipro’s rally also stems from the announcement of it considering to buyback shares during the next board of directors meeting on October 13. TCS embarks on a multi-year technology transformation cycle Gopinathan explained that currently, in the first phase of the multi-year technology transformation cycle, companies are building a cloud-based foundation. This will become the ‘resilient, secure and scalable’ digital core of their business. In the following phases, the industry will witness the native capabilities of these platforms coming up in new use cases. They will be used to create “innovative new business models and differentiated customer experiences,” he said. The cycle is driven by the desire to accelerate availing the business value of investments that clients have made in technology, according to TCS COO NG Subramanam. The company’s role is to help clients open up more micro services and ecosystems to building partnerships, not just internally within the organisation, but also with other companies. Subramaniam further highlighted that the multi-year cycle involved investments in multiple areas — whether it's the way of working, secure borderless work spaces (SBWS), the 25/25 vision and other measures — all of which are coming into play one way or another. “In the last six months, the resilience of cloud collaboration and digital has been proven beyond doubt,” he said. In the second quarter, TCS raked in $8.6 billion worth of new deals — including the deal with Phoenix Systems for $2.5 billion — with its revenue jumping 4.8% over the previous quarter and revenue up by 6.7% sequentially.

TCS and Wipro lead rally in IT stocks after TCS CEO announces multi-year 'technology transformation' cycle in the works

<ul><li>The 30-share BSE index Sensex surged 366.76 points, and the NSE Nifty jumped 92.35 points at 9:50 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock market indices Sensex and Nifty piled on gains in the opening session, taking cues from positive global sentiment. The 30-share BSE index Sensex surged 366.76 points, and the NSE Nifty jumped 92.35 points at 9:50 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Oil </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Asian Paints </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Ports </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr></tbody></table>*as of October 6, 9:55 am These are the top stocks in news today. Tata Motors up over 5% The shares of Indian auto giant Tata Motors soared 5% on improved Jaguar Land Rover (JLR) QoQ sales. The company said that the JLR sales improved by nearly 50% during the July-September quarter as against 74,067 units in the last quarter ended June 30. Infibeam Avenues locked in 5% upper circuit The shares of digital payments, e-commerce software company Infibeam Avenues was locked in a 5% upper circuit for the second day in a row. The rally came after Infibeam Avenues entered into a definitive agreement with Jio Platforms and its affiliates to license, customise, maintain and access our Enterprise E-commerce Software and Payments Platform for their business use. Housing Development Finance Corp gains 4% The Housing finance major HDFC Ltd shares were up 4% after the company told investors that its individual loan disbursements reached 95% of the level in the year-ago period, and September saw the strongest recovery since the outbreak of the COVID-19 pandemic, suggesting business is returning to pre-crisis levels. Majesco Ltd locked in 5% upper circuit The shares of Majesco were locked in a 5% upper circuit after the company said its board would consider a proposal for buyback of fully paid-up equity shares on October 8. M&amp;M leaps 3% The shares of automaker Mahindra and Mahindra soared 3% after its recently launched SUV; the All-New Thar crossed 9,000 bookings in just 4 days. The All-New Thar becomes the only SUV in the 4X4 lifestyle category to record this booking milestone in such a short span of time, the company said. Adani Ports up over 3% The shares of Adani Ports gained over 3%, a day after it announced the completion of the acquisition of the Krishnapatnam Port Company (KPCL) for an enterprise value of ₹12,000 crore. APSEZ now owns a controlling stake of 75% in KPCL, a multi-cargo port in southern Andhra Pradesh. SEE ALSO: <a href="https://www.businessinsider.in/india/news/modi-xi-set-to-meet-virtually-for-the-first-time-since-the-india-china-standoff-at-the-brics-annual-summit-next-month/articleshow/78507191.cms" data-type="tilCustomLink">Modi, Xi set to meet 'virtually' for the first time since the India-China standoff at the BRICS annual summit next month</a> <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watchsbi-hdfc-bank-tata-motors-ril-infibeam-britannia-future-consumer-and-others/articleshow/78505634.cms" data-type="tilCustomLink">Top stocks to watch—SBI, HDFC Bank, Tata Motors, RIL, Infibeam, Britannia, Future Consumer and others</a>

Top stock movers — HDFC, Adani Ports, Tata Motors, Infibeam Avenues, Majesco and more

<ul><li>The first burst of quarterly earnings are out and six large companies HDFC Bank, Reliance Industries, TCS, Wipro, Infosys, and IndusInd Bank have declared their performance.</li><li>While the trend has been positive in all but one case, the management commentary has been negative in three companies.</li><li>HDFC Bank, the latest among the blue-chips to declare its earnings, lost over 3% in share value on Monday.</li></ul> Six companies from the Sensex list -- HDFC Bank, Reliance Industries, TCS, Wipro, Infosys, IndusInd Bank and Yes Bank -- have declared their quarterly earnings so far. <a href="https://www.marketsmojo.com/mojo/resultcorner?RefBse=1" data-type="tilCustomLink" target="_blank">Markets Mojo</a>, a gauge of the market mood on the website of the Bombay Stock Exchange (BSE), shows that the performance of four out of the six stocks are positive, the commentary around the prospects for these companies have turned down in three cases. 
	
	
	
	
	
	
 
 
 
 
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 Banks in a bind HDFC Bank, the latest among the blue-chips to declare its earnings, lost over 3% in share value on Monday. It was not just because the earnings were poor. Yes, the margin shrank a bit and the amount of bad loans rose but it was the pessimism in the management's commentary that did the stock in. “The tone of management commentary may spook the markets. However, it is still one of the best managed banks out there,” Jefferies said in its report. HDFC Bank has reported a 23% growth in revenue and a 21% rise in net profit compared to a year earlier. The rise in bad loans from farmers was offset by a spike in other income. IndusInd Bank, whose reported profit grew 38%, suffered from the fears of a spike in bad loans because of the company's exposure to the infrastructure lending giant IL&amp;FS that has gone bust. The IL&amp;FS crisis has cast a shadow of doubt on the entire financial sector in the country. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The slump in demand for cars and two-wheelers, the lack of enthusiasm among home buyers, and spiralling consumer demand overall have dented bank earnings overall. Yes Bank's <a href="https://www.businessinsider.in/yes-bank-q1-earnings-report-yes-bank-share-price-q1-earnings-repor/articleshow/70261380.cms" data-type="tilCustomLink" target="_blank">quarterly profit between April and June 2019 fell 91%</a> compared to the same period a year ago, but it was still way better than estimates-- showing the lack of investor confidence. What propped up the stock on Monday were reports of a <a href="https://economictimes.indiatimes.com/markets/stocks/news/yes-bank-shares-rally-7-on-dhfl-deal-buzz/articleshow/70325293.cms" data-type="tilCustomLink" target="_blank">possible fund infusion</a> in the troubled housing finance company DHFL, to which Yes Bank has lent money. 
 
 
 
 
 
 
 
 
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 The elephant in the room The stock of Reliance Industries (RIL), one of India's biggest conglomerates, got a fillip on the first trading day after its earnings. But truly, the investors were just celebrating the fact that <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-industries-profit-grows-6-8-even-as-gross-refining-margin-hits-the-lowest-in-18-quarters/articleshow/70294401.cms" data-type="tilCustomLink" target="_blank">the company's mainstay petrochemicals business</a>was not doing as badly as they had feared. That alone was enough to prop up RIL's share price by over 2% on Monday. The Mukesh Ambani-owned company has seen very good traction in its relatively new businesses like Reliance Jio and Reliance Retail but, as many analysts have pointed out, the core businesses petrochemicals and refining -- which make for the lion's share of the company's gross revenue-- are under threat. "Reduction in heavy crude oil supply post US sanctions, global refining capacity addition this year exceeding expected incremental demand, and slowdown in petchem demand as a result of the US-China spat will weigh on RIL’s refining and petchem business," a HDFC Securities report said. Tech: Tightrope walk India's top-tier software and IT service companies, TCS and Infosys, have had a bittersweet response from investors so far. The slowdown in TCS' revenue and profit were on expected lines, according to the broking house Motilal Oswal. But investors have been driven the stock down since the earnings despite the company <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms" data-type="tilCustomLink" target="_blank">hinting at a double-digit growth</a> for the full year. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Infosys did not have a standout quarter but the optimism in its outlook had investors upbeat. Infosys had projected a total growth 8.5% to 10% for the full year ending March 2020, which would imply a compounded quarterly growth 1.6% to 1.9%, according to a BOBCAPS research report. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/wipro-profit-growth-beats-tcs-and-infosys/articleshow/70262851.cms" data-type="tilCustomLink" target="_blank">Share buybacks and new deals are keeping the hopes up for Wipro's investors</a>

Six Indian blue-chip companies have declared earnings so far - most of them lack the 'markets mojo'

CHENNAI: The Teaneck, New Jersey-based <keyword id="28721" type="CITY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> on Wednesday said its quarterly revenues for April-June period rose to $2.52 billion, in line with <keyword id="108560" type="POSITION" weightage="20" keywordseo="Analyst">analyst</keyword> expectations, up 16.5% from a year-ago period and 3.9% sequentially, joining the $10 billion a year run-rate club. GAAP net income was up 23.8% at $372 million and 6.6% sequentially. The company lowered its guidance for the remaining period, sending its stock prices crashing. 
 Cognizant, which employs more than three-fourths of its employees in India, said its growth could slow down than previous forecast due to weakness at some clients and delays in order booking. Cognizant shares fell 16% to $42.19 in <keyword id="6357328" type="COMPANY" weightage="20" keywordseo="NASDAQ">NASDAQ</keyword> in early trades, after declining as much as 17% for the biggest intra-day drop since May 2012. The stock had declined 1% this year through Tuesday. "Clients aren't spending as much as we expected on projects as we were anticipating," Gordon Coburn, president of Cognizant, said on the second-quarter earnings <keyword id="105062" type="EVENT" weightage="20" keywordseo="Conference-Call">conference call</keyword>. 
 
The company cut its revenue growth forecast for the year to at least 14% from earlier 16.5%, slowest ever in its 20 year history. Its latest full-year guidance could result in revenues of at least $10.1 billion, achieving a significant milestone. Analysts were expecting full-year revenue of $10.34 billion, according to Thomson Reuters. Cognizant also forecast July-September quarter revenues to range between $2.55 billion and $2.58 billion, again lower than analyst estimates of nearly $2.66 billion. 
 "Due to weakness at certain clients and longer than anticipated sales cycles for certain large integrated deals, we are adopting a more conservative stance for the remainder of the year," Francisco D'Souza, <keyword id="5645" type="POSITION" weightage="20" keywordseo="CEO">CEO</keyword> of Cognizant, said in a statement. 
 
It said that it has signed three transformational engagements totalling $3.5 billion in contract value, including a letter of intent with Health Net for a seven-year deal. The deal is expected to represent approximately $2.7 billion in total contract value, the largest in Cognizant's history, a company statement said. 
 
Operating margins were at 21%, higher than the company's targeted 19-20% range. This, however, lags its comparable Indian peers who have higher operating margins. For example: TCS's margins are 26.1% while that of Infosys are 25.1%. Revenues from North America rose 15%, accounting for about 77% of all revenues. The EU region contributed to 20.4% of revenues. 
 
Consulting and technology services contributed to 52% of revenues and grew 6.2% sequentially while outsourcing services 48% of revenues and grew 1.5% sequentially. "As expected, overall pricing was stable during the quarter, said Karen McLoughlin, CFO, Cognizant 
 
The company said it added 8800 persons (net), its highest since Q3 2011, in a quarter where its comparable peers recruited fewer people. "Around 34% of gross additions for the quarter were direct college hires, while 64% were lateral hires of experienced professionals. We ended the quarter with approximately 187,400 employees globally. Annualized attrition levels at Cognizant was 16.9% during the quarter-including BPO and trainees-down by almost 200 basis points from the year ago period. 
 
Cognizant also said it expanded its stock repurchase programme from $1.5 billion to $2 billion.

Cognizant Marches Into $10 Billion Revenue Club

<ul><li>In case of listed companies where the market value of the share is lower than the predetermined price in <keyword id="120103" type="General" weightage="80" keywordseo="esop" source="Orion">ESOP</keyword>, the employee should not exercise the option.</li><li>It is crucial to consider the company's financial health and growth prospects when assessing the worth of ESOPs.</li><li>You can sell a portion of the shares obtained through exercising your ESOPs right away to cover the costs associated with exercising, including any taxes owed.</li></ul>A few days ago, Infosys offered 5.11 lakh shares to its employees under Employee Stock Ownership Plans (ESOPs). ESOPs are extensively employed by corporations worldwide to incentivize employees to become stakeholders in the company. By offering employees the opportunity to own equity in the company, ESOPs aim to align their performance and dedication with the organization's success. In recent years, ESOPs have gained significant popularity, particularly among startups, as an effective tool for attracting and retaining top talent. Startups leverage ESOPs to not only reward employees but also to create a sense of ownership and motivation, driving their commitment and contribution to the company's growth.We take a look at what you need to keep in mind when exercising your stock options. “Under ESOP, employers grant options to its employees which are exercisable against company’s shares at future date, on fulfillment of defined vesting conditions. For this purpose, the employee pays the exercise price (set as zero or less than fair market value (FMV)) at the time of exercise of shares in future. Therefore, no upfront costs are associated with ESOPs at the time of grant,” says Akhil Chandna, Partner, Tax, <keyword id="10410446" type="General" weightage="50" keywordseo="grant-thornton-bharat" source="Orion">Grant Thornton Bharat</keyword>, a professional services firm. <cmsannotation type="cmsannotation" annotationid="Understanding exercise options" comment="subhead" text="Understanding exercise options">Understanding exercise options</cmsannotation> “Most reputed companies have a vesting period of four years, with 25% of the ESOPs becoming eligible for exercise each year after the initial one-year cliff. This means that after the first year, employees can exercise 25% of their ESOPs and subsequently exercise 25% over the following three years on a monthly pro-rata basis,” says Ajinkya Kulkarni, Co-Founder, and CEO, <keyword id="12504599" type="General" weightage="50" keywordseo="wint-wealth" source="Orion">Wint Wealth</keyword>, an online investment platform focussed on fixed income products. There are two common types of approaches when it comes to exercise prices. The first approach sets the exercise price as the face value of the shares. Thus it is significantly cheaper for employees to purchase the shares. The second approach involves the employee paying the market value of the shares at the time of exercising the option, where the exercise price would be higher. Employee-friendly companies may offer an exercise period of up to 10 years after the employee leaves the organization, providing greater liquidity opportunities for employees. “A sufficient exercise window is crucial since the notional gains from exercising an option are immediately taxable for employees, even though the actual wealth is realized upon liquidation of the shares,” says Kulkarni. <cmsannotation type="cmsannotation" annotationid="What to keep in mind when exercising options" comment="subhead" text="What to keep in mind when exercising options">What to keep in mind when exercising options</cmsannotation> When exercising an option see if there is a condition that the option will lapse if you do not exercise. “Then you should exercise. But if there is an option that it will be carried forward, there is no need to exercise immediately,” says <keyword id="5754055" type="General" weightage="50" keywordseo="bm-singh" source="Orion">BM Singh</keyword>, ESOP Expert &amp; Managing Partner, BMSA Consultancy. The actual value of ESOPs in a company is closely tied to its future performance and market valuations. Even if ESOPs hold a significant monetary value on paper, if the company's performance is poor, their true benefits may be limited. It is crucial to consider the company's financial health and growth prospects when assessing the worth of ESOPs. Ultimately, ESOPs are most advantageous when granted by companies with strong performance and promising future prospects.Therefore, employees should conduct thorough background research before accepting an offer that includes a substantial ESOP component. Chandna says that in the case of listed companies where the market value of the share is lower than the predetermined price in ESOP, the employee should not exercise the option. For unlisted companies, the employee should also research the company’s buyback track record during the vesting period and whether the company will raise capital through a funding round etc, to know the exit possibilities. <cmsannotation type="cmsannotation" annotationid="Tax implications at the time of exercise" comment="subhead" text="Tax implications at the time of exercise">Tax implications at the time of exercise</cmsannotation> Taxability of ESOPs first occurs at the time of exercising the options, where the perquisite value of the ESOPs is deemed taxable under the category of 'salary' in the hands of the employees. When employees exercise their ESOPs, the difference between the fair market value of the shares at the time of exercise and the exercise price is treated as a taxable perquisite. This value is added to the employee's salary and subject to applicable income tax regulations. “Please note that the taxable value of perquisite would be computed basis the date of exercise of options /units, however, the same would be taxable in the year in which shares are actually allotted/ transferred to the employees,” says Chandna. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Name of employee </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">A </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grant date of ESOP </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 April 2023 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vesting date of ESOP </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 April 2024, 1 April 2025 (50% at each date) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exercise date of ESOP/date of allotment of shares </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 April 2026 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FMV as on Exercise date i.e. 1 April 2026 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,000 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Exercise price </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#ffffff;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹100 </td></tr></tbody><tbody></tbody><tbody></tbody></table> In the above illustration, the taxability would arise in the hands of Mr. A on exercise date i.e. 1 April 2026 (FY 2026-27). The taxable value would be ₹900 (i.e. ₹1000 as reduced by ₹00) on 1 share. Source: <keyword id="131240" type="General" weightage="80" keywordseo="grant-thornton" source="Orion">Grant Thornton</keyword> <cmsannotation type="cmsannotation" annotationid="How to minimize out of pocket expenses when exercising ESOPs" comment="subhead" text="How to minimize out of pocket expenses when exercising ESOPs">How to minimize out of pocket expenses when exercising ESOPs</cmsannotation> “To minimize the duration between tax obligations on notional gains and the actual gains, it is advisable to exercise ESOPs closer to liquidity events,” says Kulkarni. You can sell a portion of the shares obtained through exercising your ESOPs right away. The proceeds from the sale can be used to cover the costs associated with exercising, including any taxes owed. This strategy effectively lowers your out-of-pocket expenses by utilizing the funds generated from selling the shares. “Let us say that you are entitled to exercise 50 shares. If you get a chance to sell 10 shares in the secondary market, then you can sell the shares and cover the expenses from the proceeds,” says Singh. By creating a budget and developing a financial plan, you can ensure that you have the necessary funds for exercising ESOPs while minimizing your out-of-pocket expenses. Through careful financial management, such as setting aside money in advance or reallocating your financial resources, you can mitigate the impact on your personal expenses when it comes time to exercise your ESOPs.

What you need to know when you exercise your stock option plan

<ul><li>The 30-share BSE index was trading 17.33 points lower, and the broader NSE Nifty was trading flat on Thursday at 10:20 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity benchmark indices were trading flat in early trade on Thursday, tracking losses in index majors HDFC twins, ICICI Bank and Infosys amid negative cues from global markets. The 30-share BSE index was trading 17.33 points lower, and the broader NSE Nifty was trading flat on Thursday at 10:20 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Fin Serv </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero MotoCorp </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ultra Chem Cement </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bharti Airtel </td></tr></tbody></table>*as of November 19, 10:15 am These are the top stocks in news today. TCS up over 2% The shares of Tata Consultancy Services (TCS) soared over 2% after its shareholders approved its ₹16,000 crore share buyback plan. Last month the board of TCS approved a proposal to buyback upto 5.33 crore equity shares at a price of ₹3,000/share. BPCL gains over 3% The shares of BPCL gained over 3% after Anil Agarwal controlled Vedanta Group said that it had submitted an expression of interest (EoI) for buying the government’s 53% stake in oil retailer Bharat Petroleum (BPCL). The shares of Vedanta Group also gained over 5% in an otherwise flat market. Hero MotoCorp leaps 5% The shares of world’s largest two-wheeler maker Hero MotoCorp were up nearly 5% after the company informed stock exchanges that it sold more than 14 lakh units of motorcycles and scooters in retail sales during the festive season. SpiceJet trades 10% higher The shares of cargo major SpiceJet gained over 10% after the DGCA data showed that its passenger load has increased from 73% in September to 74% in October. SpiceJet holds 13.4% market share in Indian skies. Lakshmi Vilas Bank locked in 20% lower circuit The shares of Lakshmi Vilas Bank were locked in a 20% lower circuit for the second day in a row. According to the bulk deal data available on the BSE, Capri Global Holdings offloaded a total of 20,55,161 shares of LVB at an average price of ₹12.40 apiece. This took the total deal value to ₹2.54 crore. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/dow-tumbles-345-points-as-fresh-lockdown-measures-overshadow-vaccine-progress/articleshow/79292917.cms" data-type="tilCustomLink"> Dow tumbles 345 points as fresh lockdown measures overshadow vaccine progress</a> <a href="https://www.businessinsider.in/science/health/news/pfizers-new-covid-19-vaccine-is-95-effective-and-the-only-severe-side-effect-to-worry-about-is-fatigue-according-to-the-final-results/articleshow/79284286.cms" data-type="tilCustomLink">Pfizer's new COVID-19 vaccine is 95% effective and the only severe side-effect to worry about is fatigue, according to the final results</a>

You Searched For "infosys buyback value" and got 10 results

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