Top headlines: TCS Q2 net rises 8%; Nobel economics for research on banks

TCS Q2 net profit rises 8% to Rs 10,431 cr, firm declares Rs 8 dividend

IT major Tata Consultancy Services (TCS) on Monday reported 8% increase in consolidated net profit at Rs 10,431 crore for the quarter ending September 30, 2022 (Q2FY23) on the back of strong deal wins. It reported consolidated net profit of Rs 9,624 crore in the year-ago period.

The firm's consolidated revenue from operations rose 18% to Rs 55,309 crore in Q2FY23 as against Rs 46,867 crore in Q2FY22. Read more

Former Fed chair Bernanke shares Nobel for research on banks

This year's Nobel Prize in economic sciences has been awarded to the former chair of the U.S. Federal Reserve, Ben S. Bernanke, and two U.S.-based economists, Douglas W. Diamond and Philip H. Dybvig, for research on banks and financial crises.

The prize was announced Monday by the Nobel panel at the Royal Swedish Academy of Sciences in Stockholm. Read more

Samajwadi Party founder, former UP CM Mulayam Singh Yadav passes away at 82

Samajwadi Party (SP) founder and former Chief Minister of Uttar Pradesh Mulayam Singh Yadav passed away in Gurgaon on Monday. He was 82 years old.

Yadav was in poor health for some time and was admitted to a hospital in the city on August 22. He was shifted to the ICU on Sunday afternoon. The party confirmed his passing in a tweet. Read more

SIP flows into MF schemes hit new high of Rs 12,976 cr in Sept: Amfi data

Net inflows in equity mutual funds jumped 130 per cent month-on-month (MoM) in September to Rs 14,100 crore after hitting a 10-month low of Rs 6,100 crore in August, shows data released by the Association of Mutual Funds in India (Amfi). SIP inflows also rose 2 per cent MoM to hit a new all-time-high of Rs 12,976 crore.

The surge in investments in equity schemes is despite the fact that the market was in the red last month, with the Nifty50 having shed more than three per cent. Read more