TCS has witnessed buying interest from the 50 per cent Fibonacci retracement level (3780) of the previous rise from 3,311 - 4255. Positive divergence is also witnessed on the daily charts
2024 full-year revenue guidance unchanged at -2% to 2%; firm signed 8 large deals during the quarter with TCV of $100 million each
IT firm reported a net profit of Rs 3,986 crore for the quarter ended March 2023 (Q4FY24), up 0.1 per cent on a year-on-year (Y-o-Y) basis
The company said it is expecting a "better" fiscal 2025 on a robust deal pipeline including a record $13.2 billion worth of orders in the reporting quarter
TCS reported a 9.1 per cent YoY growth in net profit at Rs 12,434 crore for Q4FY24, while revenue from operations rose by 3.5 per cent.
Yet, positioned for revenue growth with recent strong deals, driven by a strengthening US economy
India, UK drive IT company's growth in the quarters as US business continues to be subdued
Earlier in the day, the stock soared as much as 0.77 per cent to hit an intraday high of Rs 4,013.25
Stocks to watch on Friday, April 12, 2024: TCS to announce March quarter results today; likely to set the tone for the IT sector; Bharti Hexacom to debut.
Centrum Research believes that the company has sufficient operating levers that will help it report a higher margin in FY25 vs FY24
TCS will provide services to manage Ramboll's Cloud and data centres, application development, maintenance
33 out of Nifty 50 stocks trade below their respective 50-DMAs; Charts suggest that select stocks can decline up to 13% in case the fall extends towards the 100-DMAs.
Multi-million dollar agreement involves Nuuday's IT infrastructure being shifted to Cloud platform of TCS
We see enough drivers to believe TCS can deliver industry-leading growth and margins among peers in FY25, the brokerage said
The combined market valuation of six of the top-10 most valued firms eroded by Rs 71,414 crore last week, with state-owned company LIC emerged as the biggest laggard. Of the top-10 most valued firms, Life Insurance Corporation of India (LIC), Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Bharti Airtel and Reliance Industries faced a total erosion of Rs 71,414.03 crore. On the other hand, State Bank of India, Infosys, HDFC Bank and ICICI Bank were emerged as the gainers. They collectively added Rs 62,038.86 crore. However, in last week, the BSE benchmark climbed 831.15 points or 1.16 per cent. The market valuation of state-owned insurer LIC fell by Rs 26,217.12 crore to Rs 6,57,420.26 crore. TCS's market valuation tumbled by Rs 18,762.61 crore to Rs 14,93,980.70 crore. The market capitalisation of ITC eroded by Rs 13,539.84 crore to Rs 5,05,092.18 crore, while that of Hindustan Unilever dimnished Rs 11,548.24 crore to Rs 5,58,039.67 crore. Market valuation of Bharti A
The rally in the Tata stocks has been by smaller companies while Tata Consultancy Services (TCS) - the biggest company in the group by market capitalisation- has been a laggard
Four of the top-10 most valued firms together added Rs 2.18 lakh crore in market valuation last week, with Life Insurance Corporation and State Bank of India emerging as the biggest gainers. From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), Life Insurance Corporation of India (LIC) and SBI were the gainers. They collectively added Rs 2,18,598.29 crore in market capitalisation. On the other hand, HDFC Bank, ICICI Bank, Infosys, Bharti Airtel, Hindustan Unilever and ITC faced erosion from their valuation to the tune of Rs 1,06,631.39 crore. Last week, the BSE benchmark declined by 490.14 points or 0.67 per cent. Market valuation of LIC jumped Rs 86,146.47 crore to Rs 6,83,637.38 crore. The share price of LIC on Monday jumped nearly 6 per cent to hit the Rs 1,000 mark for the first time. SBI added Rs 65,908.26 crore, taking its valuation to Rs 6,46,365.02 crore. Market valuation of TCS climbed Rs 61,435.47 crore to Rs 15,12,743.31 crore and that of Reliance
As per the technical charts, Reliance and TCS seem placed favourably on the charts; hence, the stocks could see further gains in the coming trading sessions.
In past one month, TCS has outperformed the market by surging 12 per cent on encouraging deal wins during October-December quarter (Q3FY24).
We were always confident of our business mix and our incredible leadership and all other elements, said C Vijayakumar, CEO & MD, HCLTech