Tata Consultancy Services (TCS) Share Price may rally from 4496 to 4592, know from which price you will get confirmation
Tata Consultancy Services (TCS) is a prominent player in the Indian IT sector, and its share price movements are closely monitored by investors. As of September 12, 2024, TCS shares were trading at ₹4,479.25, reflecting a decline of 0.74% from the previous day’s close of ₹4,512.35. This article provides an in-depth look at the current share price, recent performance, and future expectations for TCS.
Main Points
On September 12, 2024, TCS shares opened at ₹4,521.45 and reached a low of ₹4,479.25 during the trading session. The stock has shown fluctuations, with a 52-week high of ₹4,592.25 and a low of ₹3,311.00. The market capitalization of TCS stands at approximately ₹16.22 lakh crore, making it one of the largest IT companies in India.
Recent Performance Metrics
- Current Price: ₹4,479.25
- Previous Close: ₹4,512.35
- Market Cap: ₹16,22,350 crore
- P/E Ratio: 34.57
- Dividend Yield: 1.63%
- EPS (TTM): ₹129.55
The stock has been relatively stable, with a low beta of 0.04, indicating lower volatility compared to the market. TCS has maintained a healthy financial position, being almost debt-free for the last five years.
Strong Q1 FY25 Results
TCS recently announced its Q1 FY25 results, showcasing a revenue of ₹62,613 crore, marking a 5.4% year-on-year growth. The operating margin improved to 24.7%, and the net income rose by 8.7% to ₹12,040 crore. This strong performance has contributed to positive investor sentiment.
Strategic Partnerships and Innovations
TCS has been actively pursuing strategic partnerships. Recently, the company partnered with Google Cloud to launch AI-powered cybersecurity solutions, addressing advanced threats in the digital landscape. This move is expected to enhance TCS’s service offerings and attract more clients.
Employee Tax Notices
In a recent development, several TCS employees received tax demand notices from the income tax department regarding discrepancies in their tax deduction at source (TDS) claims. TCS has advised its employees to wait for further instructions before taking any action. This situation, while concerning, is expected to be resolved as TCS communicates with tax authorities to rectify any errors.
Future Expectations and Price Action
Analyst Predictions
Analysts have mixed views on the future trajectory of TCS shares. While the recent performance indicates stability and growth, some analysts caution about potential headwinds. The stock is currently trading at a P/E ratio higher than its peers, which may suggest it is overvalued in the short term. The average target price for TCS shares is projected around ₹4,500, with expectations of a gradual recovery in the coming months.
Market Sentiment
Investor sentiment remains cautiously optimistic. The IT sector is expected to benefit from ongoing digital transformation trends, and TCS, being a market leader, is well-positioned to capitalize on these opportunities. However, fluctuations in global markets and potential economic downturns could impact share prices in the near future
Disclaimer: The information given in this article is from investment experts and brokerage companies, they do not represent Local Haryana. Before taking any investment related decision, you must consult a certified expert.
