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TCS Plunges 3%; BSE IT Index Down 2.7%
Wed, 18 Sep 11:33

TCS Plunges 3%; BSE IT Index Down 2.7%Image source: KanawatTH/www.istockphoto.com

TCS share price has plunged 3% and is presently trading at Rs 4,370.1.

Meanwhile, the BSE IT index is at 42,753.9 (down 2.7%).

Among the top losers in the BSE IT index today are Mphasis (down 5.6%) and Oracle Financial Services (down 5.0%).

INFIBEAM AVENUES (up 0.5%) and TANLA SOLUTIONS (up 0.1%) are among the top gainers today.

Over the last one year, TCS has moved up from Rs 3,604.9 to Rs 4,370.1, registering a gain of Rs 765.2 (up 21.2%).

On the other hand, the BSE IT index has moved up from 33,207.2 to 42,753.9, registering a gain of 28.7% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 174.1%), Firstsource Solutions (up 83.2%) and PERSISTENT SYSTEMS (up 75.5%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 83,223.5 (up 0.2%).

The top gainers among the BSE Sensex today are Bajaj Finance (up 2.5%) and HDFC Bank (up 1.6%). The most traded stocks in the BSE Sensex are SBI and NTPC.

In the meantime, NSE Nifty is at 25,457.1 (up 0.2%). Shriram Transport and Bajaj Finance are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 67,596.8 to 83,223.5, registering a gain of 15,626.7 points (up 23.1%).

TCS Financial Update...

TCS net profit grew 8.9% YoY to Rs 121,050 million for the quarter ended June 2024, compared to a profit of Rs 111,200 million a year ago. Net sales rose 5.4% to Rs 626,130 million during the period as against Rs 593,810 million in April-June 2023.

For the year ended March 2024, TCS reported 9.0% increase in net profit to Rs 460,990 million compared to net profit of Rs 423,030 million during FY23. Revenue of the company grew 6.8% to Rs 2,408,930 million during FY24.

The current Price to earnings ratio of TCS, based on rolling 12 month earnings, stands at 33.6.

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