TCS stock jumps 3.98% on the NSE, trading at ₹4,079.75 as at 11.08 am.

Fund Houses Recommendations 

Jefferies on TCS: Upgrade to Buy on Company, raise target price at Rs 4615/Sh from Rs 4030/Sh (Positive)

UBS on TCS: Maintain Buy on Company, target price at Rs 4600/Sh (Positive)

Nuvama on TCS: Maintain Buy on Company, raise target price at Rs 4800/Sh (Positive)

JP Morgan on TCS: Maintain Overweight on Company, raise target price at Rs 4600/Sh (Positive)

Citi on TCS: Maintain Sell on Company, target price at Rs 3645/Sh (Positive)

Nomura on TCS: Maintain Neutral on Company, raise target price at Rs 3860/Sh (Neutral)

CLSA on TCS: Maintain Buy on Company, raise target price at Rs 4007/Sh (Neutral)

TCS profits rise 8.8% to ₹12,105 cr in Q1 on India revenue growth

Tata Consultancy Services kicked off the first quarter of FY25 with an 8.8 per cent year-on-year growth in profits to ₹12,105 crore. During the same time last year, the IT behemoth has reported a profit of ₹11,120 crore. On a sequential basis, profit fell by 3.1 per cent, as the firm reported a profit of ₹12,502 crore in the previous quarter.

Regional markets continue to outperform western geographies when it comes to growth. India revenue rose by 61.8 per cent, meanwhile the revival in UK business has stagnated reporting a y-o-y growth of 6 per cent. North America and Continental Europe continue to show minimal recovery. The IT major reported a negative growth of 1.1 per cent in North America, although granted that the degrowth has moderated since the last quarter. Revenues only grew by 0.9 per cent in Continental Europe. Top verticals such as BFSI and Consumer Business continue to show degrowth of 0.9 per cent and 0.3 per cent. Although granted that there has been moderation in degrowth here as well. Read more

Tata Consultancy Services share price in focus

TCS stock traded at ₹4,038.80 on the NSE, higher by 2.93% as at 9.52 am.