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TCS scrip at all-time high on robust Q2 numbers

TCS scrip at all-time high on robust Q2 numbers
PTI
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First Published: Fri, Oct 22 2010. 12 10 PM IST
Updated: Fri, Oct 22 2010. 12 10 PM IST
Mumbai: India’s biggest software exporter Tata Consultancy Services (TCS) on Friday reached its peak of Rs1,040.70 at the Bombay Stock Exchange, a day after the company clocked a $2 billion (about Rs9,286 crore) revenue for the first time.
Shares of TCS surged by 5.77% during the morning trade on the BSE, to touch its all-time high of Rs1,040.70 and emerged as the best performing scrip in the Sensex. The company was also a significant contributor in the Sensex gains.
The IT major had yesterday posted a jump of 32% in net profit at Rs2,169.21 crore for the September quarter.
“The strong set of second quarter results displayed by TCS has been responsible for pulling the company’s stocks,” Ashika Brokers Research Head Paras Bothra said.
Another IT major Wipro today posted a growth of 9.75% in net profit for the second quarter ending 30 September, at Rs1,284.9 crore.
But, share of the company plunged by 3.97% to trade at Rs451.10 on BSE.
“Wipro’s quarterly results could not meet the street expectation, and therefore, the scrip witnessed a fall,” Bothra added.
The IT index rose by 1.15% at 6,130.35 and was at the top among the 13 sectoral indices of the BSE.
Among other heavyweights, bellwether Infosys Technologies was quoting 0.49 per cent up, while HCL Technologies was down by 1.05 per cent.
Meanwhile, the BSE Sensex was trading at 20,329.62, higher by 69.04 points.
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First Published: Fri, Oct 22 2010. 12 10 PM IST
More Topics: Stocks | TCS | Markets | BSE | NSE |