Wednesday 11 July 2018

Stock Market Expert: TCS Stock Jumped 6.29% To Record High

Rudra Investment Stock Market Expert says, Tata Consultancy Services (TCS), the country's largest IT company, saw good growth in the stock. TCS stock jumped more than 6 per cent. In fact, TCS's results in the first quarter of FY2019 were better than expected. Due to good results, the stock on BSE rose by 6.29 per cent to 52 week high of Rs. 1995.



Due to better results, the brokerage house has also increased trust in TCS. In this order, the 5 brokerage house has advised increasing the target of the stock as well as purchase. It is also looking to benefit TCS .

TCS's profit in Q1 at Rs 7340 crores, earnings up 6.89 percent

- In the first quarter of FY 2018-19, TCS's consolidated profit was 6.32 per cent at Rs 7,340 crore, while the quarter ended March 2018, the company had a profit of Rs 6,904 crore in the quart. At the same time, the company's profit grew 23.46 percent on an annual basis. With better results, TCS has announced a dividend of Rs 4 per share.

Stock Market Expert says, TCS's income grew by 6.89 percent to Rs 34,261 crore in the April-June quarter. In the March quarter, the company's income was Rs 32,075 crore. At the same time, the company's income has increased by 15.80 percent on an annual basis. The company's income during the same period last year was Rs 29,584 crores.

Dollar revenues up 1.6 pc

- In the first quarter, the dollar income of TCS has also increased. The company's dollar income on quarter-quarter basis rose 1.6 percent to $ 505.1 million.
- BFSI vertical growth at 3.7 percent on the quarterly basis.
- The company's digital income grew 25 percent.
On the quarterly basis, the company added two new clients of $ 10 million, while 13 clients of $ 5 million were connected.

Move on such a stock

The result of the first quarter of TCS came after the market closed on Tuesday. On Tuesday, TCS's stock closed at Rs 1877. After the results grew more than expected, TCS's shares rose by 1.23 percent to 1900 rupees on Wednesday. During the business, the stock rose 6.29 percent to reach the price of 1995, which is new 52 weeks high. The low level of stock in intra-day was Rs 1894.

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