Page 72 - Tcs News Today

“My pecking order for the largecap is HCL Tech, Infosys, TCS, Tech M and then Wipro. I definitely believe that the midcap segment is likely to outperform the largecaps because smaller size is more effective for achieving growth due to lower bases. However, midcaps are likely to outperform the largecaps.”

“We will invest in a staggered way over the next 8 to 12 weeks and not in a hurry. Within what we are buying, basically our old theme still continues which is buy local and avoid the global place. We continue to like the banks. They are still relatively decent on valuations. Cement and pharma are the other 2 sectors we like.”

Stocks that were in focus included names like TCS, which fell 0.44%, Bank of Baroda, which rose 3.22%, and I-Pru Life, whose shares declined 2.63% on Wednesday.

The Q4 results were announced after market hours. TCS shares ended at Rs 3,613 on the NSE and were down by Rs 15.90 or 0.44% from the previous closing price on Tuesday.

The IT company is going through rough seas which was anchored by a share buyback. Q2FY24 revenue missed the estimate, but the EBIT margin was above estimate.

TCS reported a net profit of Rs 11,342 crore for the September quarter, growing 8.7 percent YoY, driven by a strong order book, especially in the BFSI segment

India Business News: Tata Consultancy Services (TCS) reported a net income rise of 8.7% to 113.4 billion rupees ($1.4 billion) for the second quarter, just missing analyst

​ I think these stocks have undergone time correction and some price earning multiple correction, so they are now in sweet spot. I do not expect a much decline from here. In my view, investors will come in and buy these names in next one or two months.

The company has stated that the headwinds for the IT sector continue amid a sluggish economic climate. The countrys largest software exporter TCS on Wednesday reported an 8.7 per cent increase in its September quarter net profit to Rs 11,342 crore.

As revenue was a miss despite the robust order book, most brokerages expect to see a ramp-up of deal wins to usher growth for TCS from FY25.