L&T Q2 results: Consolidated revenue from operations jumped 15.16 per cent to Rs 35,328.45 crore for the quarter ended September 30, 2019, as against Rs 30,678.13 crore in the year-ago period

Mindtree's BFSI vertical grew 2.8 per cent sequentially, while travel and hospitality and hi-tech and media verticals grew by 3.3 per cent and 3.8 per cent, respectively. However, growth in retail, consumer packaged goods (CPG) and manufacturing remained flat

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Mindtree Q2 results: The revenue of IT services company grew by 9.1 per cent to Rs 1,914.30 crore in Q2FY20 versus Rs 1,755.40 crore in Q2FY19

Addressing investors and analysts for the first time after the completion of takeover by L&T and induction of new board members, Subrahmanyan said that the few clients that he met have given them a positive feedback and welcomed the takeover by L&T.

Share of Wipro rose over 3% in the early trade today despite the IT software company reporting a fall in Q1 revenue, EBIT and margins on a sequential basis. It also  saw slowdown in growth areas like BFSI due to stress in capital markets and the European banking space. 

Tata Consultancy Services (TCS), country's largest software services exporter recorded a double-digit growth for the fourth consecutive quarter with dollar revenues of $5,485 million and a constant currency growth of 10.6 per cent year-on-year.

The net profit declined 7.5 per cent sequentially from $29.1 million last quarter to $26.9 million this quarter.

The mid cap stock opened at a loss of 6.53% in trade today. The stock has been losing for the last two days and has lost 15.45% during the period.

At 3:20 pm, the stock was trading 7.24 percent or 37 points higher at 549 level on the BSE. Credit Suisse upgraded the firm's stock rating to 'Outperform' from 'Neutral' and hiked target price to Rs 600 from Rs 460, implying a potential upside of 17 percent from Friday's close.

Shares of Mindtree tanked over 5 per cent to hit over two-year low after the IT services and consulting company posted 37 per cent fall in consolidated profit for the September quarter.

The net sales and profits of listed Indian corporates may fall on the year-on-year basis in Q2FY16, analysts said, indicating the road ahead may still be wobbly for economic recovery and stock market.

If the economy is on a path to revival, it is definitely not showing in corporate earnings. After many quarters of slowing down, the profit after tax (PAT) of Sensex and Nifty companies fell 6.4% and 4.8%, respectively, in the third quarter of 2014-15.

Going forward, the quarterly results will dictate stock-specific action. Infosys has started the season on a positive note.

In the September quarter, most large cap as well as mid-tier IT companies reported broad-based growth, their numbers coming ahead of market expectations.

Mid-sized IT services company Mindtree's consolidated net profit rose by 52 per cent for the quarter ended June 30, 2013 on the back of a healthy growth in consumer packaged goods, retail and insurance verticals.

Business Today investigation reveals there are many worms crawling out of the information technology industry's recruitment can that has been prised open by one scandal after another. To address the malaise, placement officers will need to do more along with structural changes.