New Delhi: Shares of TCS climbed over 3 per cent on Friday after the country's largest IT services company reported 8.7 per cent rise in net profit at Rs 12,040 crore in the June quarter.
The stock rose 3.10 percent to Rs 4,044.35 on BSE.
It rose 3 percent to Rs 4,044.90 on NSE.
The market valuation of the company rose by Rs 40,359.77 crore to Rs 14,59,626.96 crore in morning deals.
This stock was the biggest gainer in the Sensex pack.
"The positive domestic cues are TCS's better-than-expected numbers and positive management commentary which could lift most IT stocks higher," said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
In the equity market, the 30-share BSE Sensex rose 226.11 points to 80,123.45 in early trade. NSE Nifty rose 82.1 points to 24,398.05.
Tata Consultancy Services (TCS) on Thursday reported 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore for the first quarter ending June 2024.
Net profit in the year-ago period stood at Rs 11,074 crore.
The company - which competes with companies like Infosys, Wipro and HCLTech in the IT services market - reported a 5.4 per cent rise in revenue to Rs 62,613 crore for the recently ended quarter.
"I am pleased to report a strong start to the new financial year with all-round growth across industries and markets," TCS Chief Executive Officer and Managing Director K Krithivasan said in a release.
TCS has declared an interim dividend of Rs 10 on each equity share of Re 1.
Meanwhile, other IT stocks – Infosys, Tech Mahindra, HCL Technologies and Wipro – were also in demand.
The stock rose 3.10 percent to Rs 4,044.35 on BSE.
It rose 3 percent to Rs 4,044.90 on NSE.
The market valuation of the company rose by Rs 40,359.77 crore to Rs 14,59,626.96 crore in morning deals.
This stock was the biggest gainer in the Sensex pack.
"The positive domestic cues are TCS's better-than-expected numbers and positive management commentary which could lift most IT stocks higher," said VK Vijayakumar, chief investment strategist at Geojit Financial Services.
In the equity market, the 30-share BSE Sensex rose 226.11 points to 80,123.45 in early trade. NSE Nifty rose 82.1 points to 24,398.05.
Tata Consultancy Services (TCS) on Thursday reported 8.7 per cent year-on-year rise in its consolidated net profit at Rs 12,040 crore for the first quarter ending June 2024.
Net profit in the year-ago period stood at Rs 11,074 crore.
The company - which competes with companies like Infosys, Wipro and HCLTech in the IT services market - reported a 5.4 per cent rise in revenue to Rs 62,613 crore for the recently ended quarter.
"I am pleased to report a strong start to the new financial year with all-round growth across industries and markets," TCS Chief Executive Officer and Managing Director K Krithivasan said in a release.
TCS has declared an interim dividend of Rs 10 on each equity share of Re 1.
Meanwhile, other IT stocks – Infosys, Tech Mahindra, HCL Technologies and Wipro – were also in demand.
