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Rediff.com  » Business » TCS shares up 4% ahead of Q2 results tomorrow

TCS shares up 4% ahead of Q2 results tomorrow

October 14, 2013 19:09 IST

TCSShares of software major TCS on Monday rose by over 4 per cent to touch one-year high level ahead of its second quarter results to be announced on Tuesday.

Tata Consultancy Services scrip ended the day 4.27 per cent higher at Rs 2,214.65 apiece on the BSE.

The stock had opened on a positive note and rallied to touch its fresh 52- week high of Rs 2,224 apiece.

On the National Stock Exchange, the stock settled at Rs 2,218.50, up 4.55 per cent.

In the intra-day trade, TCS had touched its one-year high of Rs 2,225 apiece.

The company is scheduled to announce its second quarter earnings on Tuesday.

According to a quarterly report by Kotak Institutional Equities, TCS is expected to lead the tier-I pack with 4.3 per cent Q-o-Q dollar revenue growth.

During the April-June quarter, TCS had reported a 15.5 per cent jump in consolidated net profit to Rs 3,831 crore (Rs 38.31 billion) on strong demand across sectors and geographies, coupled with forex gains.

The company's total revenue had risen 21 per cent to Rs 17,987 crore (Rs 179.87 billion) from Rs 14,869 crore (Rs 148.69 billion) a year ago.

Tracking the upbeat sentiment in the whole IT pack, other stocks such as Wipro surged 2.58 per cent to close at Rs 500.90 on the BSE. Infosys went up 1.52 per cent to settle at Rs 3,323.50.

Besides, HCL Technologies grew 0.44 per cent to Rs 1,160 and Tech Mahindra inched up 0.57 per cent to Rs 1,557.40.

Overall, the BSE IT index escalated by 2.32 per cent to settle at Rs 8,711.87 points, while 30-scrip sensitive index rose marginally by 0.38 per cent to close at 20,607.54 points.

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