TCS gains 1% in a weak market on strong demand outlook

The demand outlook continues to be strong as clients continue to spend on cloud transformation programs.

Shares of Tata Consultancy Services (TCS) opened on a flat note on the BSE in Tuesday’s intra-day trade in an otherwise weak market. The information technology (IT) major reported its highest-ever order book and crossed the revenue milestone of Rs 50,000 crore in the last quarter of 2021-22 (Q4FY22). The company also logged highest incremental revenue addition of Rs 350 crore in a year.

However, the stock firmed up, and hit a high of Rs 3,737, earlier in the day it dropped to a low of Rs 3,650. As of 12:10 PM, the stock was up a per cent at