Shares of TCS were downbeat on Wednesday as the markets seemed unimpressed by the company’s performance during the September quarter. The announcement of a ₹9 per share dividend and a ₹17,000 crore share buyback proposal failed to shadow the IT giant’s tepid performance.
The Investment: If you invest a little over ₹10,000 in Tata Consultancy Services today with the current price of TCS at ₹3,550, you would be able to buy around 3 shares of the company. If the stock were to reach its all-time high of ₹4,043, as it did on January 17, 2022, the value of those three shares would surge up to 12,129.
Background: TCS recently reported its earnings for the quarter ended September, with a consolidated net profit of ₹11,342 crore, marking a 9% year-on-year increase. However, the revenue, totalling ₹59,692 crore, missed expectations by a small margin, leading to a dip in the TCS share price early on Wednesday.
Here is how the brokerage reacted to the company’s quarterly results.
|Brokerage||Rating||Target Price (₹)|
Price Action: TCS’s share price was down 1.50% to trade at ₹3,555.85 on Thursday afternoon.
Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
Get all the latest Share Market trends and news to set you up for the week ahead.
Editor’s Note: Artificial intelligence was used as a secondary aid in the writing of this story.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.