What is the TCS-DXC technology case? It is a trade-secret lawsuit in the US between Tata Consultancy Services (TCS) and US-based Computer Sciences Corporation (CSC), now part of DXC Technology. Since the mid-1990s, CSC has licenced core life-insurance software to the US insurer Transamerica, under agreements signed in 1994 and 1998, later amended in 1999 to add the CyberLife platform and in 2005 to add Vantage. In 2013, Transamerica hired TCS to maintain these CSC systems, and in 2016–18 TCS bid for, and th ...

InterGlobe Aviation (IndiGo,) shares are set to be listed as a constituent of the benchmark BSE Sensex index, effective from December 22, according to an official announcement on Friday. Tata Motors Passenger Vehicles Ltd will be dropped from the index, it added. Tata Motors demerged into two separate entities earlier this month — Tata Motors Passenger Vehicles (TMPV) and Tata Motors Commercial Vehicles (TMCV). This move increased the count of the index constituents on the Nifty 50. However, this had no eff ...

Core Viewpoint - The US Court of Appeals has upheld a previous ruling that fines Tata Consultancy Services (TCS) $194 million for misappropriating trade secrets from DXC Technology Company [1][3]. Group 1: Legal Proceedings - DXC Technology, formerly known as Computer Sciences Corporation, accused TCS of using its trade secrets to secure a $2.6 billion contract with Transamerica and to develop its software platform BaNCS [2]. - The District Court initially ruled in favor of DXC, awarding $56,151,583 in compensatory damages, $112,303,166 in exemplary damages, and $25,773,576.60 in prejudgment interest [2]. - The Appeals Court upheld the District Court's decision on damages but vacated the injunction that previously barred TCS from using BaNCS material in the future [3]. Group 2: Company Response - TCS has described the exemplary damages as "legally excessive" and has sought to have them reduced or vacated, but the court rejected this argument [3]. - The company is currently evaluating various options, including a review and potential appeal, and intends to vigorously defend its position [4]. - TCS will make necessary provisions related to this matter in its financial statements in accordance with applicable accounting standards [4].

Core Insights - Several companies, including 廸昇集团, 机能再生, 尊科, 逻辑媒体, JM Group, Dbim Holdings, Barentsz, Ga Sai Tong, and CSC Collective, have updated their prospectuses since November, with most planning to issue small-scale offerings [1][4][6][12][16][19][21]. Company Summaries - **廸昇集团 (RSHL)**: Plans to issue 2 million shares at $4 each, aiming to raise $8 million. The company provides educational services, primarily consulting for Hong Kong students seeking overseas higher education. For the first half of 2025, revenue was $1.46 million, up from $1.26 million, with net income increasing to $450,000 from $400,000 [1][4]. - **机能再生 (AVG)**: Plans to issue 1.8 million shares at $4 to $6 each, targeting $7.2 million to $10.8 million in fundraising. The company offers pain management and functional enhancement services through three centers. For the fiscal year ending March 31, 2025, revenue was $40.02 million, slightly up from $40.80 million, with net profit decreasing to $5.54 million from $11.73 million [6][12]. - **尊科 (TTEI)**: Plans to issue 1.33 million shares at $5 to $6 each, aiming to raise between $6.65 million and $7.98 million. The company focuses on STEM education services for young children and students. For the six months ending February 28, 2025, revenue was $1.41 million, down from $1.76 million, with a net loss of $370,000 compared to a loss of $260,000 the previous year [6][8]. - **逻辑媒体 (PLAI)**: Plans to issue 1.8 million shares at $4 to $6 each, targeting $7.2 million to $10.8 million in fundraising. The company is a digital marketing firm providing content creation and distribution services. For the first half of 2025, revenue was HKD 52.63 million (approximately $6.7 million), up from HKD 45.47 million, with net profit increasing to HKD 626,000 (approximately $80,000) from HKD 58,000 [10][12]. - **JM Group**: A wholesale supplier of various products, including sports and outdoor items. For the six months ending March 31, 2025, revenue was HKD 147 million (approximately $18.94 million), up from HKD 129 million, with net profit rising to HKD 1.245 million (approximately $160,000) from HKD 513,000 [12]. - **Dbim Holdings (DBIM)**: Plans to issue 2 million shares at $4 to $5 each, aiming to raise between $8 million and $10 million. The company focuses on virtual market services for virtual goods trading. For the six months ending March 31, 2025, revenue was $586,000, up from $208,000, with net profit increasing to $133,000 from $38,000 [16]. - **Barentsz (BRKK)**: Plans to issue 1.25 million shares at $4 to $6 each, targeting $5 million to $7.5 million in fundraising. The company provides strategic and management consulting services. For the fiscal year 2024-2025, revenue was $24,000 and $147,000, with net profit of -$87,000 and $104,000 respectively [17]. - **Ga Sai Tong (GST)**: Plans to issue 1.3 million shares at $5 to $7 each, aiming to raise between $6.5 million and $9.1 million. The company operates Japanese restaurants in Hong Kong. For the first half of 2025, revenue was $136,000, up from $87,000, with net profit increasing to $25,000 from $19,000 [19]. - **CSC Collective (CSC)**: Plans to issue 1.5 million shares at $4 to $5 each, targeting $6 million to $7.5 million in fundraising. The company offers Japanese dining experiences in Hong Kong. For the fiscal year 2024-2025, revenue was $1.81 million and $5.18 million, with net profit of -$450,000 and $850,000 respectively [21].

Core Insights - The U.S. IPO market is experiencing a modest scale with more companies entering, highlighted by a recent IPO and several SPACs debuting [1] - Megan Holdings, a Malaysian aquaculture service provider, priced its IPO at the lower end of its range, raising $5 million with a market cap of $65 million [1][2] - The week saw significant fundraising from SPACs, with Drugs Made In America Acquisition II raising $500 million, and other SPACs led by notable figures like Chamath Palihapitiya and Tom Lee also securing substantial amounts [1][2] IPO Activity - Megan Holdings (MGN) raised $5 million with a market cap of $55 million, showing a first-day return of +21% [2] - American Acquisition A (AEXA) raised $300 million, with a first-day return of +6% [2] - FutureCrest Acquisition (FRCS.U) raised $250 million, achieving a first-day return of +4% [2] - Emmis Acquisition (EMISU) raised $100 million, with no first-day return [2] - Drugs Made In America Acquisition II (DMIIU) raised $500 million, with a first-day return of +10% [2] Upcoming IPOs - Fermi (FRMI), a newly established REIT, plans to raise $500 million with a market cap of $13 billion, focusing on a large-scale data center project [5] - Neptune Insurance (NP) aims to raise $350 million with a market cap of $2.8 billion, providing data-driven insurance products [5] - Commercial Bancgroup (CBK) plans to raise $100 million with a market cap of $367 million [6] - HW Electro (HWEP) is set to raise $17 million with a market cap of $16.9 million [6] Initial Filings - Six IPOs submitted initial applications, including HCI Group Exzeo (XZO) seeking $100 million and Ethos Technologies (LIFE) also targeting $100 million [2][4] - Other companies filing include YCS Group Holdings (YCSG.RC) for $14 million, PressLogic (PLAI) for $12 million, Seahawk Recycling Holdings for $10 million, and CSC Collective Holdings for $7 million [2][4] SPAC Filings - Three SPACs filed initial applications, including Lafayette Digital Acquisition I seeking $250 million, Climate Transition Special Opportunities SPAC I aiming for $150 million, and Creative Future Acquisition targeting $60 million [3][4]