Tata Consultancy Services (TCS) is about to announce its quarterly results for the first quarter of the financial year 2022-23. The large-cap IT major is expected to kickstart the earnings season as TCS will be the first major company to announce its financial results after entering Q1FY23. Ahead of the announcement of TCS results, IT stock is trading weak as TCS share price has declined nearly one per cent in intraday trade in Friday’s session.
TCS share price today Opened on a positive note but started falling soon after profit-booking trigger after making intraday high 3,305 per share mark. TCS shares continue to fall and go to intraday low 3,253 each and recorded a decline of more than 1 percent since Wednesday’s close 3,287.85 level on NSE. The second most valuable Indian company after Reliance Industries Limited or RIL (in terms of market cap) is currently quoted 3,263 per share on NSE and 3,264 per share on BSE.
TCS Share Price History
After climbing to its 52-week high 4,043 each on the NSE in January 2022, TCS share price has been under base building mode. Large-cap IT stocks saw heavy selling after the outbreak of the Russo-Ukraine War. TCS shares hit 52-week low 3,023.85 points on NSE in June 2022. However, the stock has since shown strength and has been able to stay above its 52-week low.
In YTD time, the BSE Sensex and NSE Nifty have lost over 8 per cent, while the S&P mid-cap index has rallied around 10.50 per cent in 2022. In YTD time, the S&P small-cap index is down about 14 percent. Hence, comparing the performance of the benchmark indices with the shares of TCS, the stock has declined. from 3,820 3,263 per share on the NSE, registering an improvement of about 14.75 per cent in the period.
TCS had registered a year-on-year growth of 7.35 per cent in net profit 9,926 crore during the January to March 2022 quarter. The net profit of TCS was 9,246 crore in Q4FY21. Revenues witnessed a growth of 15.75 percent on a year-on-year basis 50,591 crore during Q4FY22, as against 43,705 crore in Q4FY21.