Since last year, due to increased reliance on technology and more industries like TCS taking over the new normal, the coronavirus outbreak has brightened the demand scene, so most Indian IT stocks have risen sharply. In terms of market value, Tata Consultancy Services (TCS), India’s second largest company in market capitalization, is also on the rise.
In early trading on June 18, the stock rose more than 1% to 3,357.85 rupees, just one step away from the 52-week high of 3,358.80; however, it cooled and eliminated any negative trade income. The TI test was better than the Sensex test last year and in 2021. After all, TCS rose 16% in the BSE in 2021 and recovered 62% from June 17, 2020. Sensex is up 10% last year. and 56% respectively this year.
A few days ago, Tata Sons President N. Chandrasekaran said that since its listing in 2004, TCS’s share price has risen by more than 3000%. Innovate business models by using data and analysis and ultimately forming a cloud ecosystem in which the company cooperates with other affiliated companies. TCS is the world leader.
In the past three quarters, your profits and revenue have increased every quarter. In the past two years, the company has improved. Analysts are optimistic about the stock. Although its trading price is close to a 52-week high, they said there is still demand for TCS. Ashis Biswas, head of research at CapitalVia Global Research, predicts that BFSI Vertical will increase its investment in automation in the next two years.
There will be strong demand in all regions, and increased outsourcing should increase profits. Driven by increased outsourcing, increased utilization, reduced losses and preferential conditions, the company’s operating profit margin will increase by 130 basis points to 25.9%. Currency structure. In addition, management expects to achieve double-digit growth in the 22nd fiscal year, which will be supported by large orders,” Biswas said.