The broader market's focus will be on the RBI's Monetary Policy Committee (MPC), which is scheduled to meet from October 7 to 9, with the outcome to be announced on Wednesday, October 9.
At 9.39 a.m., Sensex was up 687 points or 0.83 per cent at 83,635 and Nifty was up 197 points or 0.78 per cent at 25,575.
Nine of the top-10 most valued firms together added Rs 2,01,552.69 crore in market valuation last week.
Last week, the combined market valuation of nine of the top 10 most valued firms jumped by Rs 95,522.81 crore. Reliance Industries, TCS and HUL emerged as the biggest gainers.
In view of genuine difficulties being faced by taxpayers, the CBDT issued a circular on Monday relaxing the provisions of TDS/TCS as per the Income-tax Act, 1961(the ‘Act’) in the event of the death of deductee/collectee before linking of PAN and Aadhaar.
A sharp fall in Infosys after the Q1 results led the markets down sharply by more than 600 points on Friday.
Amid the layoff season, tech major TCS on Thursday announced plans to create 1,200 new jobs in the US by the end of 2024. The Indian company will create these jobs in the state of Illinois, along with accelerating its STEM outreach efforts in local schools to cover 25 per cent more students and teachers.
"Margin pressure due to surge in input costs is expected to reduce owing to price hikes, operational efficiency, and improvement in product mix."
Over the course of the 10-year contract, which has the opportunity for a five-year extension, TCS will digitally transform taxi and private hire
Reacting to the results, analysts at domestic brokerage Reliance Securities said the revenue underperformance was a one-off and welcomed the significant deal wins.
