TCS shares fall nearly 3% after earnings announcement
The Hindu
The stock fell 2.67% to ₹3,231 apiece on the BSE.
Shares of TCS declined nearly 3% in initial trade on January 10 after the company’s December quarter results failed to cheer investors.
The stock fell 2.67% to ₹3,231 apiece on the BSE.
At the NSE, it declined 2.70% to ₹3,230.10 apiece.
It was the biggest laggard among the Sensex and Nifty components.
The 30-share BSE Sensex quoted 437 points or 0.72% lower at 60,310.31 in morning trade.
“TCS has given a muted quarter where despite the growth in revenue from operations, the same is not reflected in the profitability. The last quarter of the fiscal remains a key watch out as the macro-economic environment changes will bring clarity across economies,” said Urmi Shah, Analyst, Samco Securities.
India’s largest IT services company, TCS, reported an 11% rise in December quarter net profit to ₹10,846 crore, restricted by a narrowing of profit margins, but sounded sanguine about the deal pipeline.
Flight AI177 will depart Bengaluru at 1.05 p.m. and arrive at London Gatwick at 7.05 p.m. (local time). From London Gatwick, flight AI178 will depart at 8.35 p.m. (local time) and arrive in Bengaluru at 10.50 a.m. (next day arrival). From Bengaluru, the flight will operate on Mondays, Wednesdays, Thursdays, Fridays and Sundays.