HSBC Q3 profit grew by 18.5%

Are we buying more or getting out before it goes bust?

- Tata Consultancy Services (TCS) slightly exceeded first-quarter revenue expectations but remains cautious about future growth due to volatile market conditions, according to CEO K Krithivasan. - Customers are holding back on tech spending in preparation for economic uncertainties, impacting demand for Indian IT services since FY23. - TCS reported a 5.4% rise in consolidated revenue to 626.13 billion rupees and an 8.7% increase in net profit to 120.40 billion rupees for the June quarter. - The company secured deals worth $8.3 billion, down from $13.2 billion in the previous quarter, with significant contributions from mega deals like BSNL and Aviva. - Analysts predict a demand recovery for the Indian IT sector in the second half of FY25, with a full-blown recovery expected in FY26, potentially boosted by an early rate cut in the U.S. Source: Reuters

- Urban Company, a home service marketplace, has shown impressive growth since its inception, with operating revenue reaching Rs 827 crore in FY24, up from Rs 248 crore in FY21. - The company reported a 30% year-on-year increase in revenue for FY24, while also achieving a 70% reduction in losses, which fell to Rs 93 crore from Rs 312 crore in FY23. - Despite the positive financials, Urban Company noted that these figures are unaudited and may differ from the actual balance sheet to be released soon. - In Q1 FY25, the company recorded Rs 281 crore in revenue, a 37.3% increase compared to Q1 FY24, with an operating EBITDA of Rs 7 crore. - The firm also highlighted that female service partners earned 23% more per hour than their male counterparts in H2 CY23, and the company charged an average commission of 25% from service partners. Source: Entrackr

Picked HDFC again after a long pause, expecting similar trends to continue in Indian markets. Reason - Good growth (Q4) in lost cost retail deposits

Which bank provides the best support/service for a company current account?

- India's Nifty 50 index rose to record highs on Monday, driven by strong performance in the IT sector. - The NSE Nifty 50 climbed 0.4% to a record high of 24,598, while the S&P BSE Sensex added 0.2% to 80,654 points. - Strong buying in IT stocks, particularly after TCS's positive results, provided a significant boost to the market. - HCLTech saw a 3.5% rise in shares after reporting increased revenue and growth projections for the ongoing quarter. - Indian IT companies have benefited from expectations of a U.S. rate cut, with the odds of a 25 basis point cut rising to 90%. Source: Reuters

- Uber has not seen a significant impact on consumer spending despite a weakening US economy, with food delivery demand remaining healthy. - The company reported a record high in the average number of trips booked by its 156 million monthly active users in Q2, with revenue growing 16% year-on-year to $10.7 billion. - Net income for the quarter was $1 billion, significantly surpassing market expectations, driven by a $333 million revaluation of Uber's stakes in other companies. - Uber's delivery segment showed healthy order growth, and the company expects its adjusted earnings to be between $1.58 billion and $1.68 billion in the current period. - The company is focusing on growth through potential acquisitions and making delivery offerings more affordable, with a growing ads business contributing to profitability. Source: https://www.ft.com/content/22b1b73e-c9df-4318-8cf8-cac92c85f4f5

- Upgrad's gross revenue increased by 25% to Rs 1,715 crore ($204 million) in FY24, driven by its enterprise business and international operations. - The company offers upskilling courses and executive training programs, partnering with over 20 institutions like IIM Kozhikode and Wharton School. - Upgrad's enterprise segment contributed 30% of overall revenues in FY24, with an order book projected to reach Rs 228 crore ($27 million) in FY25. - The company's EBITDA margin improved from -19% in Q4 FY23 to 4% in Q4 FY24, thanks to the robust enterprise business. - Despite challenges in the edtech sector, Upgrad continues to expand globally, with international operations accounting for 21% of its income in FY24. Source: [The Arc](https://thearcweb.com/article/enterprise-business-lifts-upgrads-income-by-25-to-rs-1715-cr-S3eFCjC81nx2CwUG)

Hi everyone, recently i interviewed for a product position in hdfc bank. I did well and was asked to submit documents for offer release. Everything was going fine. But, a couple of days later, I was told that there's a hiring freeze in hdfc. Can someone confirm this? Thanks in advance.