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HCL Technologies outperformed Tata Consultancy Services in revenue for the June quarter. However, HCL Tech's profitability declined due to project delays. TCS improved its operating margin through cost control. HCL Tech revised its FY26 revenue guidance upward, signaling optimism. New order bookings decreased temporarily due to procedural delays. Employee attrition at HCL Tech fell, while TCS reported an increase.
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Reserve Bank of India will conduct a three-day variable rate reverse repo operation. The operation is for 1 lakh crore on Tuesday. This announcement was expected due to the fall in overnight rates. The reversal of the three-day VRRR will occur on Friday. 1.52 lakh crore will return to the banking system then.
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PV Krishna Reddy, managing director of MEIL, is seeking 1,500 crore in debt financing from firms like Elham Credit and Oaktree Capital to fund the buyout of his uncle's 51% stake in the company. The deal, valued at 12,000-15,000 crore, aims to consolidate Krishna Reddy's ownership.
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