1. Mahanagar Gas (MGL) City gas distribution company has increased the prices of compressed natural gas (CNG) and domestic piped natural gas (PNG), effective from Tuesday in Mumbai, India, according to local media reports. The price of CNG has been hiked by 1.50 Indian rupees per kg, bringing the new rate to 75 rupees per kg, inclusive of all taxes. While domestic PNG prices are costlier by 1 rupee per standard cubic meter (SCM), resulting in a new price of 48 rupees per SCM.

2. Tata Consultancy Services (TCS) is scheduled to report first-quarter results Thursday. 

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NET PROFIT FORECAST: Tata Consultancy Services is expected to post an 8.5% increase in net profit to 120.18 billion Indian rupees  ($1.44 billion) ₹1.18 lakh crore in Indian rupees for the three months ended June 30, according to a poll of analysts by FactSet. That's compared with ₹11,074 crore in Indian rupees net profit in the year-earlier period. REVENUE FORECAST: First-quarter revenue is estimated to have increased 4.8% from a year earlier to ₹62,249 crore in Indian rupees, according to the FactSet poll. The stock has risen 4.8% to ₹39.76 lakh so far this year through Monday's close.

3. Infosys (INFY) said Tuesday it has signed a five-year collaboration agreement with European security firm Sector Alarm to move its key business systems to the cloud. Under the terms, Infosys will migrate Sector Alarm's enterprise resource planning platform to Microsoft's MSFT Microsoft Dynamics 365 Finance and Operations, the company said.

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Tue Jul 9, 2024