While analysts stayed positive on TCS growth prospects, they see limited earnings upgrades for the stock from here on due to lack of positive surprises and expensive valuations.
During the quarter company won new orders worth $9.2 billion which was highest ever Total Contract Value (TCV) in a quarter, TCS said in a press release.
Sensex, Nifty Set To Open Lower; TCS In Focus Ahead Of Earnings Tata Consultancy Services will be in focus as it will report its March quarter and financial year 2021 earnings later in the day.
Updated: April 12, 2021 8:47 am IST
The Indian equity benchmarks are set to stage a gap down opening as indicated by the Nifty futures traded on the Singapore Exchange. Nifty futures on Singapore Exchange (SGX Nifty) fell 1.67 per cent or 249 points to 14,632, indicating that the markets will see a big fall in the opening deals. Rising Covid-19 cases is likely to hamper the economic recovery of the country and is weighing on the investors sentiment, analysts said.
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.