Page 74 - Tcs News Today

While IT stocks have been underperforming the broader market for more than a year, But at this point of time as second quarter results start to pour in, they witnessed another round of sharp correction. This was in the backdrop of some of the US IT services companies indicating that the operating environment is tough at this point of time. But sometimes, even the management are caught on the wrong foot, like in early 2021 when they went on a hiring spree only to reverse in less than two years. ...

For the September quarter, which is traditionally strong for the sector, TCS is seen reporting a mere 1.4% sequential growth in consolidated revenue to Rs 60,218 crore, according to the average of estimates by eight brokerage firms. But on a year-on-year (YoY) basis, the topline is seen rising nearly 9%. Consolidated net profit is seen rising 3% sequentially and over 9% YoY to Rs 11,404 crore in the quarter, the estimates showed.

TCS Buyback 2023: Before this, TCS has bought back its shares in 2017, 2018, 2020, and 2022

I do not think there will be a bigger disappointment because I believe TCS is more of an executioner and performs well off execution. We are expecting around 0.7% of the CC revenue growth and 1.5% of the growth in the rupee terms.

For many, the shift from the comfort and flexibility of working from home to the structured routine of office life can seem challenging to deal with initially.

The Bengaluru-based information technology firm had postponed the hikes, due in September, by a quarter due to macro headwinds and margin pressure.

Deepak Jasani of HDFC Securities expects the buyback size to be in the range Rs 20,000 crore to Rs 22,000 crore, as he sees "a combination of caution and hope, and no fireworks" in the IT major's September quarter results later today.

Q2 IT results: Brokerages such as JM Financial said the ongoing results season is likely to be incrementally better than June quarter's but nowhere close to what most players envisaged at year-beginning.

TCS Q2 Results live updates: IT giant Tata Consultancy Services is all set to kick off the earnings season for the second quarter of FY24. TCS is also likely to announce its fifth share buyback in six years, rewarding investors with the increasing cash in its reserves.

From the Sensex pack, Wipro and UltraTech Cement were the top gainers, rising 3.4% and 2.1%, respectively. Reliance Industries, HUL, Nestle, and M&M also closed higher. On the other hand, HCL Tech, TCS, SBI, and Infosys closed in the red