TCS shares were on fire on Friday, going up over 6% to hit an intraday high of ₹4,184.95. The massive surge comes as the IT major’s June quarter results beat street expectations.
The surge also helped the stock scale past the ₹15 lakh crore mark in market cap, cementing its position as India’s second-biggest listed company. So if you had invested ₹10,000 in the IT behemoth when it debuted on the bourses, here’s what would have happened.
The Investment: If you had put ₹10,000 into TCS on August 25, 2004 at ₹87.5 per share, you could have acquired around 114 shares. Fast forward to November 22, 2023, and those same shares would now be worth an astonishing ₹4.76 lakh at ₹4,180 per share.
Q1 Earnings Overview: The Tata Group company’s net profit for the June quarter was ₹12,040 crore, an 8.7% increase from ₹11,074 crore last year. The IT services company’s revenue rose 5.4% to ₹62,613 crore, surpassing analyst estimates of ₹62,150 crore in revenue and ₹11,975 crore in net profit.
Here are the latest ratings and target prices for the IT stock from various research firms:
| Research Firm | Rating | Target Price (₹) |
|---|---|---|
| JP Morgan | Overweight | 4,600 |
| Jefferies | Buy | 4,615 |
| UBS | Buy | 4,600 |
| Nuvama | Buy | 4,800 |
| Motilal Oswal | Buy | 4,660 |
| HDFC Securities | Add | 4,510 |
| Kotak Securities | Add | 4,500 |
| Citi | Sell | 3,645 |
| CLSA | Hold | 4,007 |
Price Action: TCS’s share price was up 6.40% to trade at ₹4,175 on Friday afternoon.
Editor's Note: The prices have been adjusted for dividends, stock splits and bonuses.
Disclaimer: Benzinga India doesn’t give financial advice. The above article is for educational purposes alone.
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.