IT stocks, Infosys, TCS, Tech Mahindra and HCL Tech, rally ahead of TCS results


Information technology contribution 1-2% before TCS results

TCS net profit rose 28.5 per cent to Rs 9,008 crore in the June quarter

IT stocks are in the strong market light ahead of the TCS Q2 results being planned after the market. India’s largest IT services company will announce its second quarter earnings on Friday. Infosys, TCS, Tech Mahindra and HCL Tech are among the top four Sensex gainers in a single market.

According to analysts, it will closely monitor the company’s earnings in the market quarter, and closely monitor management’s commentary on the Deal Pipeline and the company and business environment. Unlike other IT companies, TCS does not provide systematic revenue growth guidance.

TCS had a net profit of Rs 9,008 crore in the June quarter, up 28.5 per cent from Rs 7.008 crore in the year-ago period.

The company’s operating income rose 18.5 per cent to Rs 45,411 crore in the June quarter, from Rs. 46,132 crore.

At 1:05 pm, TCS shares were up 1.5 per cent at Rs 3952.75.

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