Newsmakers: TCS gains Rs 5 lakh cr mkt cap; home launches up 27% and more

TCS regains Rs 5 lakh crore market capitalisation

Tata Consultancy Services (TCS), the country's largest software services exporter, has regained a market valuation of over Rs 5 lakh crore. The IT giant had attained a market capitalisation of over Rs 5 lakh crore in July 2014, becoming the only company in Indian markets to reach this milestone. At the close of trade today, TCS's market capitalisation (m-cap) stood at Rs 5,05,818.70 crore. In dollar terms, its m-cap rose to $76 billion.

New home launches up 27% in January-March quarter at 31,200 units

Launches of new homes increased by 27 per cent to 31,200 units in eight major cities with developers betting on the affordable segment to boost their sluggish sales, property consultant Cushman & Wakefield said. The residential market, which saw a slump in launches in 2015, saw a remarkable comeback in the first quarter, backed by a six-fold rise in launches in the affordable housing segment..., C&W said in a statement. 

Nissan to acquire 34% stake in Mitsubishi for over $2 billion

Japanese auto major Nissan Motor Co today announced plans to acquire 34 per cent stake in beleaguered compatriot Mitsubishi Motors Corporation for 237 billion yen (over $2 billion). Nissan and Mitsubishi Motors Corporation (MMC) announced that they have signed "a basic agreement to form a far-reaching strategic alliance between the two Japanese automakers". 

Credit offtake of banks to pickup from next month: Vinod Rai

Credit offtake to industry, which has seen decline in the recent past due to slowdown in certain sectors and issues related to bad loans, is likely to see an uptick from next month, Bank Board Bureau chief Vinod Rai said on Thursday. "Managing directors we have met are very confident of the fact with the kind of measures we have put in place, lending process would start very quickly and you will see very healthy growth in the credit offtake of the banks," Rai said.

Tourists arrival on e-visa records 266% rise in April

The number of foreign tourists visiting India using e-tourist visas has increased exponentially as 70,045 tourists arrived last month as compared to 19,139 during the same period last year, registering a growth of 266 per cent. The UK continues to occupy the top slot, followed by the US and Russia among the countries availing e-tourist visa facility.