In past two days, TCS was down 4% to Rs 3,624.90 on fears of a slowing US economy and trading close to its 52-week low of Rs 3,593.30 touched on June 4, 2024.
Technical outlook on Nifty IT, large-cap technology stocks: The IT index along-with Infosys, TCS, HCL Technologies, Tech Mahindra and Wipro look poised for further losses from present levels.
TCS hit Rs 3,780.65, its lowest level since June 20, 2024, in Wednesday's intra-day trade; it is quoting lower for the third straight day, falling 4 per cent during the period
TCS is seen testing its 20-month moving average for the first time in 21 months, a monthly close below the same shall open the doors for a slide towards Rs 3,170 levels; suggests technical chart.
A large portion of the dip is attributed to the over 10 per cent correction in ITC (Rs 11,863 crore), Larsen & Toubro (Rs 6,713 crore) and State Bank of India (Rs 5,647 crore) shares, thus far in CY25
Technical charts show that HCL Technologies, TCS, Infosys and Tech Mahindra shares could fall up to 8% from here on; while, Wipro can potentially rally by another 11%. Check key levels here
Analysts have mixed views on TCS following its Q3FY25 performance, with several brokerages highlighting the company's growth potential despite near-term challenges
IT-bellwether TCS's headline revenue numbers remained flat, but the deal-win total contract value (TCV) was encouraging, signaling potential momentum pick-up ahead
Thursday's session had already painted a grim picture, with the Sensex plunging 528.28 points (0.68 per cent) to close at 77,620.21. The Nifty shed 162.45 points (0.69 per cent) to settle at 23,526.50
Brokerages tracked by Business Standard expect TCS to report a 6.3 per cent year-on-year (Y-o-Y) revenue growth for Q3, reaching Rs 6,445.63 crore, up from Rs 6,060 crore in the previous year
In the previous session, the Sensex ended at 78,141.06, registering a decline of 58 points or 0.07 per cent, while the Nifty50 closed at 23,688.95, down 19 points or 0.08 per cent
The Nifty IT index outperformed the Nifty 50 and the broader index in the second-half of 2024 with a gain of nearly 20%. Key levels to track on IT shares ahead of Q3 results.
These 7 Nifty 50 stocks are seen trading with an RSI below 30; stocks trading in oversold zone need not necessarily bounce back immediately. Here are the key levels to watch out for.
Here is the full list of companies that will trade ex-date tomorrow for major corporate announcements, such as dividends, rights issue, and stock-split
India's largest IT services provider said in an exchange filing that the company's board has declared a second interim dividend of Rs 10 per equity share of Re 1 each of the company for FY25
TCS, NRB Bearings, Madhuveer Com 18 Network, and Anand Rathi Wealth will trade ex-date this week, having announced dividends of Rs 10, Rs 2.50, Rs 0.05, and Rs 7, respectively
