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    TCS   INE467B01029

TATA CONSULTANCY SERVICES LTD.

(TCS)
  Report
Delayed NSE India Stock Exchange  -  07:29 2022-10-06 am EDT
3101.95 INR   +0.35%
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Indian shares fall as TCS drags tech stocks; rupee hits fresh low

07/11/2022 | 01:08am EDT

BENGALURU, July 11 (Reuters) - Indian shares fell on Monday, as IT services major Tata Consultancy Services dragged down technology companies after posting weak results last week, while the rupee hit another record low.

The NSE Nifty 50 index was down 0.30% at 16,172, as of 0447 GMT, while the S&P BSE Sensex fell 0.36% to 54,284.71.

Shares of TCS fell as much as 4.6% to hit a three-week low, after it missed quarterly profit estimates by a wide margin on Friday, as employee-related expenses soared. The index heavyweight also pulled down tech index by 3.1%.

"For IT, the results are disappointing. Market had this view already over higher attrition and fear of recession and that's why stocks have been correcting. After some stability the stocks have started to correct again," said AK Prabhakar, head of research, IDBI Capital Market.

Expenses for TCS jumped, while margins eroded with the order book remaining nearly flat year-on-year.

Bucking the trend, D-Mart owner Avenue Supermarts jumped 3.7%, after reporting strong quarterly results.

"D-Mart has given out very good results and their margin has also expanded. The results should be reflective for other retail and consumer facing companies," Prabhakar said.

The Indian rupee weakened to a an all-time low against the U.S. dollar amid weaker domestic equities and concerns about global economic growth supporting the safe-haven greenback.

Focus in now on India's retail inflation data, due later this week, with a Reuters poll showing that the reading likely held steady in June but well above the Reserve Bank of India's tolerance limit for a sixth month.

Broader Asian shares were mostly under water on Monday, as investors braced for a U.S. inflation report that could force another super-sized hike in interest rates, and the start of an earnings season. (Reporting by Nallur Sethuraman in Bengaluru; editing by Uttaresh.V and Rashmi Aich)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / INDIAN RUPEE (AUD/INR) 0.08% 52.808556 Delayed Quote.-1.97%
AVENUE SUPERMARTS LIMITED -1.47% 4413.85 Delayed Quote.-4.11%
CANADIAN DOLLAR / INDIAN RUPEE (CAD/INR) -0.19% 59.786 Delayed Quote.2.36%
EURO (B) VS INDIAN RUPEE SPOT (EUR/INR) -0.13% 80.6141 Delayed Quote.-4.78%
NIFTY 50 0.33% 17331.8 Delayed Quote.-0.46%
SENSEX BSE30 0.27% 58222.1 Real-time Quote.-0.05%
TATA CONSULTANCY SERVICES LTD. 0.35% 3101.95 Delayed Quote.-17.31%
US DOLLAR / INDIAN RUPEE (USD/INR) -0.22% 82.13 Delayed Quote.9.38%
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Analyst Recommendations on TATA CONSULTANCY SERVICES LTD.
More recommendations
Financials
Sales 2023 2 200 B 26 799 M 26 799 M
Net income 2023 420 B 5 119 M 5 119 M
Net cash 2023 397 B 4 842 M 4 842 M
P/E ratio 2023 27,1x
Yield 2023 2,66%
Capitalization 11 350 B 138 B 138 B
EV / Sales 2023 4,98x
EV / Sales 2024 4,51x
Nbr of Employees 592 195
Free-Float 27,7%
Chart TATA CONSULTANCY SERVICES LTD.
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Tata Consultancy Services Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends TATA CONSULTANCY SERVICES LTD.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 40
Last Close Price 3 101,95 INR
Average target price 3 393,83 INR
Spread / Average Target 9,41%
EPS Revisions
Managers and Directors
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
Samir Seksaria Chief Financial Officer
Natarajan Chandrasekaran Non-Executive Chairman
K. Ananth Krishnan Chief Technology Officer
N. Ganapathy Subramaniam COO & Non-Independent Executive Director
Sector and Competitors
1st jan.Capi. (M$)
TATA CONSULTANCY SERVICES LTD.-17.31%138 506
ACCENTURE PLC-35.00%173 533
AUTOMATIC DATA PROCESSING, INC.-4.74%99 275
INFOSYS LIMITED-24.28%73 422
SNOWFLAKE INC.-44.23%59 293
FORTINET, INC.-25.24%42 257