Tata Consultancy Services (TCS) surpassed analysts' expectations by reporting a 23.46 per cent growth in profit in June quarter; a Reuters poll of 37 economists has predicted that June inflation may shoot up to a 2-year high; OPEC has shifted the blame of rising crude prices after US President Donald Trump's warning. BusinessToday.In Editor Rajeev Dubey explains this and more on The Good, The Bad and The Ugly.

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The earnings wereannounced after market hours on Tuesday. The TCS stock closed 0.56 per cent lower at Rs1,877 on the BSE. The stock gained aftertwo consecutive days of decline today. The stock hit its life-time high level of1,930 on July 9, 2018 and succumbed to profit booking before it erased losses tohit an intra day and fresh life time high of 1935 level in trade today.

IT major TCS reported the total revenue of Rs 34,261 crore, which is 6.8 per cent up sequentially and 15.8 per cent compared the corresponding quarter last year. The company's operating margin stood at 25 per cent.

Deepak Parekh-led financial services conglomerate HDFC group today saw the market capitalisation of its listed firms cross Rs 10 lakh crore mark, making it only the second Indian business house after Tatas to achieve this feat.

If HCL Technologies does follow through on the move, it will be the second leading IT firm to take the buyback route this year. Just last month, Tata Consultancy Services had announced a Rs 16,000 crore share buyback plan.

The firm is the first IT bellwether to announce its earnings in the first quarter of this fiscal. Here's a look at how brokerages expect the firm to perform in the June quarter.

The stock closed 1.68% or 31 points higher at 1913 level on the BSE. The firm will announce its Q1 earnings on July 10, 2018. 

The Indian currency opened at 68.42 a dollar and touched a low of 68.50-a level last seen on 1 December 2016 on worries over rise in fiscal deficit and inflation due to rising crude oil prices.

Neemuchwala received Rs 6.29 crore in gross salary, Rs 1.70 crore in variable pay, Rs 10.2 crore in other annual compensation with other addition perks, taking his total compensation to Rs 18.23 crore for FY2017-18.

Tata Sons has a 73 per cent stake in TCS and, if it tenders shares, could stand to gain around Rs 10,000 crore from the Rs 16,000 crore share buyback.

The sanctioned amount of Rs 16,000 crore does not include any expenses incurred or to be incurred for the buyback like filing fees, advisory fees, public announcement publication expenses, printing and dispatch expenses, and other incidental and related expenses, the company further added.

Tata Consultancy Services (TCS) became the first company to close the trading session with a market valuation of over Rs 7 lakh crore on a day.

The buyback is proposed to be made from the shareholders of the Company on a proportionate basis under the tender offer route using the stock exchange mechanism, TCS mentioned in a regulatory filing.

The company's market valuation surged Rs 16,539.68 crore to Rs 6,98,408.68 crore. In terms of equity volume, 3.54 lakh shares of the company were traded on BSE and over 53 lakh shares changed hands on NSE during the day.

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In 2015, TCS had made offers to 44,000 students, which fell to 35,000 offers and then 20,000 in the next two years. This year, too, it has made offers to 20,000 students during on-campus recruitments. Its off-campus hiring stood at 4,000.