Thursday, April 16, 2020

TCS shares jump 8% post Q4 earnings



Shares of Tata Consultancy Services jumped nearly 8 per cent on Friday after the company reported a marginal decline in March quarter earnings. Market analysts said TCS outlined a balanced business outlook and investors are anticipating a recovery in demand conditions by the third quarter of the current financial year. 


The scrip of the company advanced 7.94 per cent to Rs 1,851.85 on the BSE. It was the top gainer on the 30-share BSE index. At the NSE, it climbed 7.91 per cent to Rs 1,851.95. TCS on Thursday reported a marginal dip in March quarter net at Rs 8,049 crore on Thursday, but guided towards a very difficult time ahead which may even see a "contraction" in revenues in the first two quarters of FY21, as global clients fight the impact of the COVID-19 pandemic. The company had posted a net profit of Rs 8,126 crore in the year-ago period. -- PTI





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