IT giant TCS back in action, stock up by over 3%
IT giant in the country, Tata Consultancy Services was the eye-catcher in Tuesday’s trading session. TCS has pushed Nifty and Sensex to their record opening high. It was the most active stock by value in the morning hour on Tuesday.
TCS was reeling under pressure for past two months. However, it seems TCS has pared its losses and moved northwards with fresh upsurge.
The stock was trading higher by 3.12% at Rs 2685.3 per share as of 0936 hours on Tuesday. It attracted huge trading volume of 5,58,637 shares and traded value of Rs 150.05 Cr. For past two weeks, the stock has witnessed around 70% deliverable quantity to traded quantity reflecting strong investor’s sentiments over the long-term growth prospects of the stock.
IT stocks are also seen to be relieved from the global political pressures. Tata Elxsi was trading higher by close to 4% at Rs 1545.8 per share, HCL Tech was trading higher by 2.3% at Rs 878.4 per share. Nifty IT index was trading higher by 1.76% at 10848 level.
Stock View :-
Tata Consultancy Services Ltd is currently trading at Rs 2686.95, up by Rs 85.9 or 3.3% from its previous closing of Rs 2601.05 on the BSE.
The scrip opened at Rs 2644 and has touched a high and low of Rs 2707.4 and Rs 2630 respectively. So far 754563(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 512518.16 crore.
The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 2740 on 16-Aug-2016 and a 52 week low of Rs 2054.7 on 15-Nov-2016. Last one week high and low of the scrip stood at Rs 2620 and Rs 2525.6 respectively.
The promoters holding in the company stood at 73.31 % while Institutions and Non-Institutions held 22.31 % and 4.38 % respectively.
The stock is currently trading above its 50 DMA.
Tata Consultancy Services Ltd :-
BSE 2,686.00 84.95 (3.27%)
NSE 2,687.95 84 (3.23%)
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