You are here: Home » Markets » News
Business Standard

TCS nears all-time high; stock rallies 11% in four days

The stock moved higher by 3.2% to Rs 3,238, extending its 7.4% rally in past three days, trading close to its all-time high of Rs 3,255, recorded on January 24, 2018 in intra-day deal.

SI Reporter  |  Mumbai 

TCS nears all-time high; stock rallies 11% in four days

Shares of Tata Consultancy Services (TCS) have moved 3.2% higher to Rs 3,238 per share, extending their 7.4% rally in past three trading days on the The information technology (IT) giant trading close to its all-time high of Rs 3,255, recorded on January 24, 2018 in intra-day trade.

is scheduled to announce its earnings for the period of January-March 2018 (Q4FY18) and the financial year 2017-2018 (FY18) on Thursday, April 19, 2018.

TCS, in its December quarter (Q3FY18) call, sounded optimistic about 2018, stating that problems that were plaguing a number of its verticals and geographies are behind The optimism also stemmed from the general improvement in macro-economic outlook in the developed world, especially in the US.

“We have factored in 1.5% quarter on quarter (QoQ) CC (constant currency) revenue growth considering that tends to be a seasonally weak quarter. All major currencies including the Euro, UK Pound, JPY, AUD, BRL and AUD have appreciated against USD in Q4FY18, which we believe, will lead to around 150bps cross-currency tailwind, thereby resulting in revenue growth of 3.0% in USD terms,” Nirmal Bang Equities said in sector update.

The brokerage firm, however, believe that appreciation of the INR against the USD will offset some cross-currency gains leading to a 2.6% growth in INR terms.

Revenue growth for is expected to pick up in Q4FY18 to 2.2% QoQ in CC terms from 1.3% in the previous quarter, led by ramp-up of recently-won deals. With cross-currency tailwinds of 110bp, we expect USD revenue growth of 3.3% QoQ, the brokerage firm Motilal Oswal Securities said in March quarter result preview.

Meanwhile, with Rs 6.19 trillion market capitalisation, has surpassed Reliance Industries (RIL) to become the country’s most valued firm again. RIL have market capitalisation of Rs 5.92 trillion at 01:37 pm, the data shows.


First Published: Fri, April 13 2018. 13:39 IST
RECOMMENDED FOR YOU