Will the weak TCS Q1 result resist the market to decrease? Anil Singhvi share view
Afterwards, Tata Consulting Services (TCS) and Tata Elxsi released their Q1 earnings at the previous session – the worrying sentiment for the entire IT package. At the last session, Nifty IT’s IT specialty in Mumbai saw a lower income rate later that day, with all but eight stocks down.
In weak sentiment, U.S. deposit receipts or Infosys and Wipro’s revenue fell by more than 4%.
TCS Q1 results
In the last meeting after the market hour, TC posted a weak Q1 result online in the Expectation Online. In terms of profit, net profit consolidated in the review quarter increased by more than 6%, up from Rs 127,600 crore in the same quarter of the previous year to Rs 127,600 crore.
The company’s new service department has recorded good growth.
The company’s revenue is below Rs 63,437 crore than cautious customer spending and tariff uncertainty. The company’s Continuous Bending (CC) revenue is 3.1% annually.
IT companies’ management reviews are not that confident.
The company’s profit margin is 24.5% in terms of operation.
TCS stock price analyst after quarter earnings
Zee business executive editor Anil Singhvi expects the stock to increase by 2-3%, with a greater impact on Infosys and Wipro ADR. Even if he sees TCS’s weaker grades, he hopes this has been priced.
Will the market for resistance with weaker TCS returns be reduced?
Experts believe that 25,125-25,275 is the last support range, and below it, there will be further signs. Analysts believe the resistance is 25,550-25,650.
