On NSE, TCS shares surged 6.54 per cent to its one-year high of Rs 3,399.90. The company’s quarterly results were announced post market hours on Thursday.
PTI
Updated:April 20, 2018, 11:44 AM IST
TCS Launches New Digital Subscription Platform on Microsoft Azure (Representative image)
On NSE, shares of the company surged 6.54 per cent to its one-year high of Rs 3,399.90. The company’s quarterly results were announced post market hours yesterday.
The stock was the biggest gainer on both key indices, Sensex and Nifty. The firm’s market valuation zoomed Rs 37,702.06 crore to Rs 6,45,880.63 crore.
In terms of equity volume, 5.54 lakh shares of the company were traded on BSE and over 56 lakh shares changed hands on NSE in the morning session.
Buying was also seen in other IT stocks, with Infosys trading higher by 3.49 per cent and Wipro 1.92 per cent on BSE.
Stating that fiscal 2017-18 has been a “sobering year” on slower revenue growth, the nation’s largest software exporter TCS yesterday reported a 4.4 per cent rise in March quarter net profit at Rs 6,904 crore.
The Tata group flagship, which contributes around 85 per cent of the group’s profit, reported a revenue growth of 8.2 per cent at Rs 32,075 crore for the three months to March. In dollar terms, the company had its highest revenue growth in 14 quarters at 11.7 per cent.
It also announced a 1:1 bonus of shares and a dividend of Rs 29 a share, taking the total payout to shareholders at Rs 50 for the year. It has given out close to Rs 26,000 crore to the shareholders in dividends and bonuses in the year.
Also Watch
Watch: Quin Smart Helmets | Feature
Thursday 19 April , 2018 Interview: Virat Kohli at the Launch of the Audi RS5
Wednesday 18 April , 2018 Karnataka Election 2018: The Good, The Bad and The Tainted Candidates
Wednesday 18 April , 2018 The Rape and Murder Of A Young Girl Has Shocked Pakistan
Tuesday 17 April , 2018 Mahesh Manjrekar Up & Close | Talks About Hosting Bigg Boss Marathi
Source: News18