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TCS Q1 FY24 – Macro impact dents show, near-term outlook cloudy

Madhuchanda Dey   •

Contrary to the expectations of normalisation in the second half of FY24, the company management remains non-committal on the timing of recovery

Tata Consultancy Services Ltd. | CMP Rs 3340.55 | Shares of Tata Consultancy Services rose 2.5 percent on July 13 even after the company posted a muted set of earnings for the quarter ended June. The optimism for the stock arises from the fact that most brokerages remain positive about the long-term prospects of the information technology major. The country's largest software services exporter registered a 16.8 percent increase in net profit on a year-on-year basis in the April-June quarter to Rs 11,074 crore, backed by strong growth in total contract value (TCV) deal wins despite a tough business environment.

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This Research Report / Research Recommendation has been published by Moneycontrol Dot Com India Limited (hereinafter referred to as “MCD”) which is a registered Investment Advisor under the Securities and Exchange Board of India (Investment Advisers) ...Read More