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Stock market news: TCS shares rise 2%

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NEW DELHI: Shares of Tata Consultancy Services Ltd. traded 1.87 per cent up in Thursday’s trade at 10:54AM (IST). Around 62,543 shares changed hands on the counter.

The stock opened at Rs 2265.1 and touched an intraday high and low of Rs 2323.8 and Rs 2265.1, respectively, in the session so far. The stock of Tata Consultancy Services Ltd. quoted a 52-week high of Rs 2357.15 and a 52-week low of Rs 1504.4.

Total market cap of the Tata Consultancy Services Ltd. stood at Rs 867363.72 crore at the time of writing this report.

Key Financials

The company reported consolidated sales of Rs 38322 crore for the quarter ended 30-Jun-2020, down 4.07 per cent from previous quarter’s Rs 39946 crore and down 0.39 per cent from the year-ago quarter’s Rs 38172 crore.

The net profit for latest quarter stood at Rs 7008 crore, down 13.81 per cent from the corresponding quarter last year.

Shareholding pattern

As of 30-Jun-2020, domestic institutional investors held 2.51 per cent stake in the firm, while foreign institutional investors held 15.85 per cent and the promoters 72.05 per cent.

Valuation ratio

According to BSE data, the stock traded at a P/E multiple of 27.78 and a price-to-book ratio of 10.23. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Tata Consultancy Services Ltd. belongs to the IT Consulting & Software – Large Cap industry.

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