TCS may hit Rs 4,000-mark on Q1 boost; HCL Tech could dip to Rs 1,000 level

Once the range of Rs 3,380 to Rs 3,350 is conquered, TCS shares are set to hit a new historic peak. HCL Tech, meanwhile, may slip under Rs 1,000 if it fails to hold the 200-DMA

Shares of Tata Consultancy Services and HCL Technologies will be in limelight on Thursday, following their Q1FY24 results. Tata Consultancy Services’ shares opened on a strong note and were observed scaling previous significant high, while HCL Technologies, which began with a gap-down, quickly recovered losses perceiving a sluggish bias. 

The largest IT service provider, Tata Consultancy Services, reported 16.8% year-on-year (YoY) growth in the first quarter ended June of the fiscal year. The revenue grew by 7 per cent. 

HCL Technologies, the third largest company, delivered 12 per cent jump in its net profit in the fiscal quarter ended June