TCS Shares Wobbly Ahead Of Q2-Print: What To Expect

Shares of TCS were volatile ahead of the September quarter results scheduled to be released later today.

What To Expect: The larger consensus for the IT sector results this quarter is not very cheerful. The July-September quarter has historically been a seasonally strong quarter but the results this year might not live up to that, as per market experts.

HDFC Securities in their preview note on the sector said that India’s IT “sector is expected to deliver a soft quarter.” For TCS, the brokerage firm expects revenue growth of around 1.6% sequentially but expects the IT giant to outperform on margins.

See Also: Why Adani Group Is Firefighting A Report That Hasn’t Been Published Yet

The Numbers: Here is what the street expects from the Tata Group company’s September quarter results:

Metrics Consensus Estimates
Revenuearound ₹60,000 crore
EBITaround ₹14,000 crore
EBIT Marginaround 23%
Net Profitsaround ₹11,000

Apart from the numbers, investors would also be keenly watching the company’s decision about the proposed buyback. The company had announced a buyback last year. The size of the buyback was around ₹18,000 crore and the price was set at around 18% premium from the market price at the time.

Price Action: TCS’s share price was up 0.34% to trade at ₹3641.40 at open on Wednesday.

Read Next: UK PM Rishi Sunak Expected To Visit India For Trade Deal, May Attend Ind-Eng World Cup Encounter

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: PreviewsMoversTrading IdeasTata GroupTCS