New Delhi: Shares of Tata Consultancy Services on Tuesday settled on a flat note as the company's quarterly earnings failed to cheer investors.
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The market heavyweight stock opened the trade on a tepid note and gained 1.14 per cent to Rs 3,738.60 during the day on the BSE. It hit a high of Rs 3,738.60 and a low of Rs 3650.05 during the trade.
The stock finally settled at Rs 3,691.45, lower by 0.13 per cent.
At the NSE, it dipped 0.28 per cent to settle at Rs 3,686 after a muted opening.
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The company's market valuation remained at Rs 13,50,720.52 crore.
The country’s largest software services firm Tata Consultancy Services on Monday said it has crossed the Rs 50,000 crore revenue mark for the first time.
The company said its revenue jumped 15.8 per cent to Rs 50,591 crore in the reporting quarter on an annualised basis.
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TCS closed fiscal 2022 with a bang, crossing for the first time USD 25 billion annual revenue of Rs 1,91,754 crore, up 16.8 per cent, driven by the highest-ever incremental revenue of USD 3.533 billion and an all-time high order book.
Its annual profit jumped 14.8 per cent to Rs 38,327 crore.
"TCS results are in line and marginally above expectations. This can support IT stocks even if there is some profit booking," according to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. PTI SUM SUM AJ AJ
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