The demand outlook continues to be strong as clients continue to spend on cloud transformation programs.
The stock needs to create a strong base and momentum in the range of Rs 4,000 to Rs 3,800 levels, which the stock has been unable to conquer with ease.
Analysts say the company's margins are likely to be flat to slightly negative on QoQ basis due to supply side pressures and high employee costs.
What does a delayed LIC IPO mean? Why are top lenders bullish about digital-only banks? Should you join the TCS stock buyback bandwagon? What is RTGS? Find all answers here
TCS on January 12, 2022 had approved to buyback up to 40 million equity shares of face value of Rs 1 each at Rs 4,500 per equity share for an aggregate amount of upto Rs 18,000 crore.
The NSE IT index has been moving in a tight range, a breakout in either direcion can trigger a 2,000 points movement.
BoI, Devyani Intl, Eveready, FSL, Mahindra Life, Paytm, REC, Siemens, Sintex, SPARC, Tata Steel, Thermax and Vijaya Diagnostics are some of the prominent companies to announce results today.
The nervousness in the IT stocks, analysts believe, is on account of rising employee costs at a time the business growth has been modest year-on-year in the December 2021 quarter (Q3FY22)
Infosys continues to defend the support from past four months; TCS shares have three supportive technical parameters that attract buying and accumulation.
TCS board has recommended a buyback of shares to the tune of Rs 18,000 cr at Rs 4,500 per share
The company reported revenue for Q3FY22 was at Rs 48,885 cr, up 16.3% YoY and 4.3% QoQ
The three IT majors are scheduled to report Q3 earnings on Wednesday.
The stock was up 3% at Rs 3,979.90, trading close to its record high level of Rs 3,990 touched on October 8, 2021.
The October-December (Q3) quarter is expected to be another strong quarter for IT companies after strong performance witnessed in Q2FY22.
The major IT stocks like Infosys, LTI, Coforge continue to absorb selling pressure at the counters
Eicher Motors surges over 5% on Royal Enfield's strong December sales; TCS gains 4% in three days, hits 13-week high; textile shares rally on improved outlook
The management said attrition challenge may continue for the next two to three quarters
State-owned Bank of Baroda on Wednesday announced the launch of its digital banking platform 'bob World', aimed at providing all banking services under one roof
After touching its all-time high of 56,198.13 in early trade, the 30-share BSE Sensex ended 14.77 points or 0.03 per cent lower at 55,944.21
Reliance Industries, Infosys, HDFC, Bajaj Finance and Wipro also saw a rise in their market valuations, while HDFC Bank, ICICI Bank and SBI suffered losses