Shares of Tata Consultancy Services (TCS) traded 1.5 per cent lower at Rs 3,273 on the BSE on Monday, outperforming the market, ahead of its January-March 2021 (Q4FY21) results today. In comparison, the S&P BSE Sensex was down 3.55 per cent or 1,758 points at 47,833, at 1:25 PM. The stock hit an intra-day high of Rs 3,344 and a low of Rs 3,241 on the BSE.
In the past one month, shares of the information technology (IT) giant rose 7 per cent, as compared to 5.7 per cent slide in the benchmark index. However, in the last six months, it has underperformed the market by gaining 16 per cent, against 18 per cent surge in the Sensex.
Shares of information technology (IT) companies continued their upward march in Monday s session, with Nifty IT index rising 2 per cent to scale a fresh record high on the National Stock Exchange (NSE), after sector giant Tata Consultancy Services (TCS) posted better-than-expected results for the quarter ended December 2020 (Q3FY21). At 09:59 am, Nifty IT index, the top gainer among sectoral indices, was up 1.8 per cent at 26,643 as compared to a 0.87-per cent rise in the Nifty50 index at 14,472. The IT index hit a fresh record high of 26,808 in intra-day trade. In the past two months, it has outperformed the market by surging 26 per cent, as compared to a 14-per cent gain in the benchmark index.
Tata Consultancy Services (TCS) became the first Indian information technology (IT) company and overall the second listed company to cross Rs 12 trillion market-capitalisation (market-cap), on Monday, after reporting a healthy set of numbers for the October-December 2020 quarter (Q3FY21). Shares of TCS hit a fresh record high of Rs 3,224; up 3 per cent on the BSE in early morning trade after brokerages maintained ‘buy’ rating on the stock. The company’s Q3FY21 numbers were above analysts estimates on all fronts. The company said it could return to a double-digit growth trajectory next year. On the National Stock Exchange (NSE), the stock hit fresh all-time high of Rs 3,230, up 3.5 per cent. At 09:19 a.m, TCS market-cap stood at Rs 11.90 trillion, after the stock erased partially its early morning gains on the BSE and NSE. The stock was trading 1.7 per cent higher at Rs 3,172, against 0.67 per cent rise in the S&P BSE Sensex, the exchange data shows. In the past one month,