TCS hits over 7-mth high; rises 4% in three days despite market volatility

Analysts at ICICI Securities expect TCS' margins to improve from FY23 onwards due to utilization improvement and moderation of sub-contractor costs

Shares of Tata Consultancy Services (TCS) rose 1 per cent to hit an over seven-month high of Rs 3,498 on the BSE in Friday’s intra-day trade as investors turn to defensive stocks in a volatile market.

The stock of the information technology major was trading higher for a third straight day, rising 4 per cent over this period. It was quoting at its highest level since May 18, 2022.

In the past one month, TCS has gained 5 per cent as compared to a 1.8 per cent decline in the S&P BSE Sensex, while in the last three