TCS Shares Volatile Ahead Of Q4 Results: Here's What To Expect

TCS’s share price was volatile ahead of the results scheduled later today. The Tata Group stock has had a slow start to the year, going up around 4.5% on a year-to-date basis.

What Happened: India’s biggest IT services player will kick off the Q4 earnings season on Friday. Analysts expect the IT giant to lead the pack among the top-tier IT services companies like Wipro and Infosys in revenue growth and overall performance.

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In terms of revenue growth, analysts foresee an over 1% increase in constant currency terms on a sequential basis for TCS. Analysts’ estimates vary within a range of 1% to 1.8% sequentially. The revenue is seen above the ₹61,000 crore mark. Profit is seen close to the ₹11,900 crore mark.

The quarter’s deal wins will also be something the investors will be monitoring. In the previous December quarter, the company reported deal wins amounting to $8.1 billion. Kotak Institutional Equities projects TCS to announce deal wins worth $10 billion during this quarter, driven primarily by a substantial Aviva deal.

Talking about the stock’s technicals, Anshul Jain, Head of Research at Lakshmishree told Benzinga India, “Technical indicators paint a bullish picture, with the monthly Relative Strength Index (RSI) signalling momentum and both weekly and daily indicators in the buying range. Notably, a small flag and pole pattern on the daily charts suggests potential bullish continuation.”

Price Action: TCS’s share price was up 0.21% to trade at ₹3,993 in early trade on Friday.

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