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TCS latest quarterly results go beyond market expectations
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Tata Consultancy Services, a division of Tata Sons Limited, is an Indian IT company with a global footprint and provides a comprehensive range of IT services to its clients in diverse industries.
TCS share price touched a 52-week high of Rs 3,230, rising over 3% in the early trade on Jan 11, 2021, after the company posted its third-quarter numbers which were better than expectations.
In Q3 FY21, TCS reported a 4.7% quarter-on-quarter rise in revenue which now stands at Rs 42,015 crore. Its profit for the quarter rose 3.2% to Rs 8,701 crore.
The company’s margin expanded 40 basis points sequentially to 26.6%. The company recorded total deal wins worth $6.8 billion during the quarter. The company said it could return to a double-digit growth trajectory next year
The growing virtualization of business is driving growth in IT spends and IT companies will be key beneficiaries of this multi-year technology transformation phase. TCS is poised to continue benefitting from mega deals and adoption of digital services.
How does this affect your wealth?
We have looked into the exposure of all equity mutual funds schemes to TCS. As per the latest portfolio analysis, 203 Out of 443 equity-oriented funds have exposure to TCS which makes it 46% of the universe.
Scripbox recommended equity mutual funds have anywhere between 10 to 16 percentage exposure to IT sector and 4 to 6 percentage invested in TCS. The growth and positive performance among companies in the IT sector will add value to your portfolio.