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While TCS' June quarter numbers did not lead to upgrades, HCL Tech's figures were an all-round miss and Wipro's weak guidance drew bearish comments. But stock prices have another story to tell. Led by 7% weekly jump in Infosys and 5.6% rise in TCS, Nifty IT index ended last week higher by 4.7%.
Markets News: NEW DELHI: Foreign Portfolio Investors (FPIs) flow into the Indian equity market remained unabated as they invested over Rs 30,600 crore in the first .
TCS has reported better Q1 results than HCL Tech and Wipro, attracting buying interest in the Indian stock market. TCS shares are recommended for investment
TCS and HCL Tech reported lower-than-expected earnings in Q1FY24. TCS had its slowest start to a fiscal year since going public in 2004. TCS reported a 16.84 per cent YoY rise in net profit, but a 2.8 per cent QoQ decline. HCL Tech's net profit rose 7.65 per cent YoY but declined 11.27 per cent QoQ.
Q1 Results: While TCS has demonstrated strong performance in certain areas, HCL Tech showcases promising growth potential and notable developments