TCS Share Price Surges by 4% to Reach ₹4,140: Tata Consultancy Services (TCS), the IT company of the Tata Group, is witnessing a strong business performance. In Tuesday’s trading session, TCS shares rose by 4% to reach ₹4,140. The total market capitalization of TCS is ₹15 trillion. The company’s shares reached a high of ₹4,123 in 2021 and are now trading close to their highest value once again. On Wednesday, February 7, 2024, TCS shares were trading at ₹4,101.50 with a 0.83% decrease. On Thursday, February 8, 2024, the share price increased by 1.11% to ₹4,129.
TCS is the Second Largest Company in Market Capitalization in India: In terms of market capitalization in India, TCS is the second-largest company after Reliance Industries, owned by Mukesh Ambani. The total market capitalization of TCS is more than ₹15 trillion, while Reliance Industries has a market capitalization of ₹20 trillion.
TCS Holds Three-Quarters of Tata Group’s Market Capitalization: In May 2020, TCS accounted for more than three-quarters of the total market capitalization of all Tata Group companies. This number has decreased for the first time in 10 years, mainly due to the poor performance of TCS shares. However, now the shares are once again trading at their peak. Other Tata Group companies such as Titan, Tata Motors, Trent, Tata Power, Indian Hotels, and Tata Elxsi have also performed well.
Experts Predict TCS Share Price to Reach ₹4,359: Out of 44 analysts tracking TCS shares, 10 have given a “Buy” rating. According to experts from brokerage firm Religare Broking, TCS shares could reach ₹4,359. Since the beginning of February, TCS shares have seen an 8% surge.
TCS Reports Strong Financial Results: TCS has reported a net profit of ₹117.35 billion for the October-December 2023 quarter, which is 8.2% higher than the same period last year. The company generated revenue of ₹605.83 billion in the December quarter, which is 4% higher than the same quarter last year. The operating margin for the quarter increased by 0.5% to reach 25%. The net margin for the company was recorded at 19.4%. TCS has currently $8.1 billion worth of orders in hand.
With TCS shares reaching new heights and the company’s strong financial performance, investors are optimistic about the future prospects of the company.
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