TCS shares up 4 pct ahead of quarterly results tomorrow

Written by PTI | Mumbai | Updated: Oct 15 2013, 00:32am hrs
TCS sharesDuring the April-June quarter, TCS had reported a 15.5 per cent jump in consolidated net profit. Reuters
Shares of software major Tata Consultancy Services (TCS) today rose by over 4 per cent to touch one-year high level ahead of its second quarter results to be announced tomorrow.

Tata Consultancy Services shares ended the day 4.27 per cent higher at Rs 2,214.65 apiece on the BSE. The stock had opened on a positive note and rallied to touch its fresh 52- week high of Rs 2,224 apiece.

On the National Stock Exchange (NSE), the TCS shares settled at Rs 2,218.50, up 4.55 per cent. In the intra-day trade, TCS shares had touched one-year high of Rs 2,225 apiece.

The company is scheduled to announce its second quarter earnings tomorrow.

According to a quarterly report by Kotak Institutional Equities, TCS is expected to lead the tier-I pack with 4.3 per cent Q-o-Q dollar revenue growth.

During the April-June quarter, TCS had reported a 15.5 per cent jump in consolidated net profit to Rs 3,831 crore on strong demand across sectors and geographies, coupled with forex gains.

The company's total revenue had risen 21 per cent to Rs 17,987 crore from Rs 14,869 crore a year ago.

Tracking the upbeat sentiment in the whole IT pack, other stocks such as Wipro surged 2.58 per cent to close at Rs 500.90 on the BSE. Infosys Ltd went up 1.52 per cent to settle at Rs 3,323.50.

Besides, HCL Technologiess grew 0.44 per cent to Rs 1,160 and Tech Mahindra Ltd inched up 0.57 per cent to Rs 1,557.40.

Overall, the BSE IT index escalated by 2.32 per cent to settle at Rs 8,711.87 points, while 30-scrip sensitive index (BSE Sensex) rose marginally by 0.38 per cent to close at 20,607.54 points.