TCS shares climb over 3% to ₹2,120.30 topping Nifty 50
Business
TCS shares climbed over 3% on Friday after the company posted its June quarter results, hitting a high of ₹2,120.30 and topping the Nifty 50 chart.
The IT giant pulled in ₹72,275 crore in revenue and made a net profit of ₹13,349 crore this quarter.
Brokerages constructive despite TCS profit miss
Analysts are feeling positive about TCS even though profits were slightly below estimates.
Big wins in AI ($2.6 billion annualized revenue and $9.5 billion in new deals) show strong demand from businesses.
There are still some hurdles like wage hikes and global uncertainties, but brokerages say TCS's solid deal pipeline and growth in sectors like manufacturing keep it promising.
They are retaining a broadly constructive stance on the stock.