TCS stock hits new 52-week high as investors stay optimistic, market cap nears Rs15 lakh cr

17 Jan 2022 , 01:41 PM

Tata Consultancy share traded at fresh records on Monday. Investors are upbeat on the company after it passed street expectations in Q3 earnings. TCS has reported a significant growth in its financial result updates, emerging more promising to the investors. TCS market cap nears Rs15 lakh cr today.

TCS garnered a 12.3% growth in consolidated net profit of Rs9,769cr for the quarter ending December 2021 (Q3FY22) period compared to a profit of Rs8,701cr a year ago same quarter. Consolidated revenue from operations increased by 16.3% to Rs48,885cr in Q3FY22 versus Rs42,015cr in a similar period of last year.

In constant currency, the revenue growth was at 15.4% yoy in the quarter under review. TCS posted a 4% quarter-on-quarter revenue growth in CC.

In the quarter, all verticals grew in the mid to high teens. Growth was led by Retail and CPG (20.4%), BFSI (+17.9%) and the Manufacturing vertical (+18.3%). Technology & Services grew +17.7%, Life Sciences and Healthcare grew +16.3% and Communications & Media grew +14.4%.

Recently, the company announced its top ranking by French CxOs which showed a positive impact on its scrips. Earlier on Friday, the company also announced its position as a Leader in the Everest Group PEAK Matrix for Advanced Analytics and Insights (AA&I) Services.

Also, TCS stock is on a boom as experts are optimistic about the company and have given a buy target. The company is set to launch its mega buyback of Rs18,000cr soon.

TCS is currently trading at Rs 4,025.90 up by 1.4% on Sensex. At the current market price, the company’s valuation is near Rs14.90 lakh cr. In the early deals, the market cap has reached near Rs15 lakh cr. The stock has hit  a new 52-week high of Rs 4,043 on Monday.