TCS Shares Soar on Strong Q3 Performance

In an impressive display of financial health, TCS shares surged nearly 6% on Friday, buoyed by the company's announcement of an 11.95% increase in net profit for the December quarter. The stock's remarkable performance saw it closing at Rs 4,265.55 on the BSE, after peaking at Rs 4,296.80 during the day. Similarly, on the NSE, it settled at Rs 4,265 per share.

Market Value and Sectoral Gains

The company's market capitalization witnessed a significant boost, increasing by Rs 82,818.03 crore to reach Rs 15,43,313.32 crore. This surge was part of a broader trend in the IT sector, with peers like Tech Mahindra, Infosys, HCL Tech, and Wipro also posting gains. The BSE IT index climbed 2.65%, even as the BSE Sensex and NSE Nifty experienced declines.

Revenue Growth and Future Outlook

TCS reported a 5.6% increase in revenue to Rs 63,973 crore, up from Rs 60,583 crore in the previous year, though slightly down from the September quarter's Rs 64,259 crore. The company secured new orders worth $10.2 billion, a significant jump from $7.9 billion year-on-year. CEO K Krithivasan highlighted the diversity of new orders across sectors and regions as a key factor in the company's confidence in long-term growth prospects. He also noted signs of improvement in discretionary spending and predicted that 2025 would outperform 2024.