TCS stock price falls after disappointing Q4. Check latest price targets, brokerage views
Tata Consultancy Services (TCS) kicked off the Q4 earnings season with a mixed bag, one that left investors parsing through numbers for cues on what lies ahead.
The stock opened weak on Friday, slipping nearly 1% before recovering slightly, aided by a strong broader market. By 10:19 am, it was trading marginally lower at Rs 3,239.50 on the Bombay Stock Exchange.
However, the company’s fourth-quarter numbers were underwhelming.
Revenue from operations rose 5.3% year-on-year to Rs 64,479 crore, slightly below estimates, while net profit declined 1.7% to Rs 12,224 crore, falling short of the Street’s expectations of Rs 12,650 crore.
Constant currency revenue contracted 0.8% sequentially, a tad worse than anticipated.
Despite the muted…
