TCS’ market capitalisation now stands at Rs 1,136,109.52 crore.
January 04, 2021 / 03:15 PM IST
Tata Consultancy Services (TCS) share price crossed Rs 3,000 mark to hit a new 52-week high of Rs 3,043.90. The company is going to announce its third-quarter numbers on January 8.
The share price gained more than 3 percent and is among the top gainers on the BSE Sensex and Nifty indices. Its market capitalisation now stands at Rs 1,136,109.52 crore.
Broking house Prabhudas Lilladher expect modest 77 bps decline in margins to 25.4 percent on account of wage hike from October 1, 2020. As there is no other increasing cost item, it expects a positive surprise in margins.
Broking house believes that IT services companies will post robust quarter led by a strong recovery in key verticals, added revenue tailwinds from sustained deal wins, strong momentum in digital spends and lower than expected furloughs.
It expects consensus to revise their revenue growth estimates, as deal wins across the pack are very strong and European geography will outperform in coming quarters.
TCS will post a strong deal win number due to Deutsche and Prudential Financial deal wins, it added.
BSE IT index gained over 2 percent led by the Ramco Systems, Zen Technologies, 3i Infotech and Trigyn Technologies.
At 14:53 hrs, Tata Consultancy Services was quoting at Rs 3,027.70, up Rs 99.45, or 3.40 percent on the BSE.
