Analysts believe that the earnings were satisfactory and were in line with their estimates, with an optimistic management waiting for a turnaround in the near future
At 6:30 AM, GIFT Nifty Futures were trading 39 points lower at 25,079 levels, indicating a weak start for the Indian bourses.
Company's performance missed profit estimates, beat on revenue growth
Stock Market Close Highlights, Oct 10, 2024: Kotak Mahindra Bank, JSW Steel, HDFC Bank, Bharat Electronics, and IndusInd Bank were among the 23 constituent stocks of the Nifty50 that ended in the gree
Tata Consultancy Services (TCS), the largest Indian information technology firm is set to report its financial performance for the July-September quarter of fiscal year 2024-25 (Q1FY25) on Thursday
Technical charts suggest that heavyweights TCS and Infosys seem to be favourably placed, while Wipro could face some downward pressure. Check key levels here.
Thus far in CY24, Voltas (up 81%), Tata Investment Corporation (53%), Tejas Networks (31%), Tata Power (35%), Nelco (20%),Tata Steel (18%) and Tata Communications (13%) have outperformed the Sensex.
The Nifty IT index had shed 3% on Wednesday ahead of the US Fed policy decision. Here are the key pivot points to track on top IT stocks with potential upside and downside targets as per charts.
Nelco hit a multi-year high of Rs 1,271.95, rallied 13 per cent on the BSE in Tuesday's intra-day trade, and zoomed 46 per cent in eight trading days
The Nasdaq rose more than 2% on Thursday after July the US retail sales data signalled resilient consumer spending, allaying fears of an imminent recession in the world's largest economy.
Q1 earnings impact: In the last two weeks, the NASDAQ has plunged 7 per cent, while the IT index has rallied 7 per cent. Trading strategies for Infy, TCS, HCL Tech and LTIMindtree here.
F&O trading strategy: A high OI-based PCR suggests that traders were expecting limited downside at these counters, and were comfortable writing Puts.
For the financial year 2023-24, TCS had reported a total headcount decline of 13,249 compared to FY23
Why are stock markets rising: A large part of Friday's rally in Sensex, Nifty50 indices was led by information technology (IT) stocks
IT stocks outlook: TCS can potentially rally another 6 per cent from present levels; while Infosys, Wipro and LTIMindtree can rally up to 15%, suggest charts.
IT stocks today: TCS, Mphasis, Accelya Solutions India, Sonata Software, and Kellton Tech Solutions rose in the range of 3 per cent to 6 per cent
All you need to know before the market opens on Friday: GIFT Nifty hints at likely 100-point opening gain; TCS Q1 beat analyst expectation, Infy ADR jumped 3% in the US; Japan's Nikkei down over 2%.
Tata Consultancy Services (TCS) shares were trading 1.79 per cent higher at Rs 3979.90 per share on the BSE in Thursday's intraday trade
Information Technology major, Tata Consultancy Services is set to deliver its financial performance on Thursday July 11, 2024 for the first quarter of fiscal year 2024-25 (Q1FY25)
The Nifty IT index has outperformed surging 14% in the last one month owing to the recent portfolio shift after the election outcome, and hope for a better calendar year 2025.