TCS shares up nearly 2 percent; gains on December quarter profits


NEW DELHI, jan 12: Shares of Tata Consultancy Services on Tuesday traded higher after the company reported a 7.2 percent jump in December quarter net on a consolidated basis.
At 13:05, TCS shares were higher by Rs 27.40 or 0.86 percent to Rs 3202.45 apiece. TCS shares opened at Rs 3179.95 and saw an intra-day high of Rs 3208.10. On Monday, TCS shares closed with nearly 2 percent gains. The stock closed at Rs 3,175.05, a gain of 1.75 per cent after rising 3.32 per cent to Rs 3,224 its fresh record high on the BSE during the day.
On the NSE, it gained 3.49 per cent to Rs 3,230 its all-time high during the day and later closed at Rs 3,170.45, up 1.59 per cent.
The company's market valuation rose to Rs 12,09,768 crore during morning trade on the BSE. At close of trade, its market valuation was at Rs 11,91,400.91 crore. In traded volume terms, 2.54 lakh shares were traded at the BSE and over 95 lakh units were traded at the NSE during the day. The country's largest software services firm on Friday reported a 7.2 per cent rise in consolidated net profit to Rs 8,701 crore for the December 2020 quarter.
This is against a net profit of Rs 8,118 crore in the year-ago period, Tata Consultancy Services (TCS) said in a regulatory filing. Revenue of the firm grew 5.4 per cent in the quarter under review to Rs 42,015 crore from Rs 39,854 crore in the corresponding period last fiscal, it added.
This is the strongest December quarter growth in nine years, TCS said.

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