TCS slips over 2% even as Q2FY23 results beat Street estimates

The IT major reported net profit of Rs 10,431 crore, up 8.4 per cent year-on-year (YoY) and 10 per cent quarter-on-quarter (QoQ)

Shares of Tata Consultancy Services (TCS) slipped into red after a volatile start to the day, and were declined over 2 per cent at Rs 3,054.75 on the BSE. The move comes after the IT major beat estimates on profit and growth front, in the second quarter of financial year 2022-23 (Q2FY23), and continues to see strong demand for its services.

Earlier this morning, the stock hit a high of Rs 3,144.55. At 10:50 AM, the stock traded 1.6 per cent lower at Rs 3,072. In comparison, the S&P BSE Sensex was down 0.44 per cent at 57,736.