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Newsletter | TCS fires 19 employees, debars 6 vendors post resource management investigation; 'Must reject Islamophobia,' says Joe Biden & more
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Newsletter | TCS fires 19 employees, debars 6 vendors post resource management investigation; 'Must reject Islamophobia,' says Joe Biden & more
Oct 16, 2023 4:10 AM

Here's a rundown of 11 significant news stories to keep you in the know:

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TCS fires 19 employees, debars six vendors after concluding resource management investigation

Tata Consultancy Services (TCS) Ltd. informed the exchanges on Sunday that it has concluded its investigation to examine allegations pertaining to the Resource Management function and action has been taken against all 19 employees involved.

The company stated that 16 employees have been separate from the company for code of conduct violation, while three have been removed from the Resource Management function.

Additionally, six vendor entities, their owners and affiliates have also been debarred from doing any business with TCS.

Radhakishan Damani's DMart falls most in 5 months. Time to stay put or book profits?

Shares of Avenue Supermarts, the company behind hypermarket chain DMart, owned by billionaire investor Radhakishan Damani, registered their biggest single-day losses in nearly five months, as they fell 4% intraday on Monday, October 16.

DMart earnings have made several top brokerages remain mixed on the stock. While Kotak's 'Sell' rating stays due to punchy valuations, Nuvama has a 'Buy' rating with a target of Rs 4,021.

Domestic brokerages Motilal Oswal and Centrum broking have 'Buy' ratings on the counter, with a target of Rs 4,500 and Rs 5,006, respectively. The target from Centrum implies a potential upside of 31% from today's session. This is also the highest price target for the retail stock on the Street.

Israel-Hamas war LIVE: 'Must reject Islamophobia,' says Biden on 6-year-old American-Palestinian's killing

More than 4,000 people have died in the conflict between Israel and Palestine's military group, Hamas, as it enters its ninth day. India is in full swing to evacuate its citizens out of the warzone with a fifth flight under Operation Ajay departing from Tel Aviv. Reports from the Middle East claim that several Hamas officials have been killed by the Israeli Army.

For LIVE updates on the Israel-Hamas war click here

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