TCS shares jump 4 Percent after Q1 earnings
New Delhi: Shares of Tata Consultancy Services rose 4 per cent today after the company posted better-than-expected earnings.
The stock after making a positive opening further jumped 3.78 per cent to Rs 1,948 -- its 52-week high -- on BSE. It was the top gainer in the Sensex pack during the morning trade.
At NSE, shares of the company gained 3.98 per cent to Rs 1,949.90. "TCS first quarter results were better-than-expected on all fronts against our/street estimates," Emkay Global Financial Services said in a report.
Country's largest software exporter yesterday posted 23.4 per cent rise in consolidated net profit to Rs 7,340 crore for the first quarter ended June 30, 2018.
The company had reported a net profit of Rs 5,945 crore in the same period previous fiscal, TCS said in a regulatory filing.
The Tata Group company -- which accounts for a lion's share of the group's overall profit -- saw its income from operations grow 15.8 per cent to Rs 34,261 crore during the quarter, up from Rs 29,584 crore a year ago.
Indian markets expected to open sideways due to weak Asia cues. Nifty resistance seen at 11180, support seen at 10900,10830.
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