Wipro shares jump 4% on winning $500 mn contract
The IT heavyweight has maintained an uptrend for the last three sessions and rose nearly 10% during the same period.
The IT heavyweight has maintained an uptrend for the last three sessions and rose nearly 10% during the same period.
Post Q4 numbers, most brokerages remained bullish on TCS, expecting the share price to rise up to 15% to ₹4,700 from the current market price.
The IT major will receive tax refund from the I-T dept for assessment years spanning from 2007-08 to 2018-19.
Tata Sons was looking to offload 2.34 crore, or 0.65%, shares of TCS at a floor price of ₹4,001 per share through block deals.
Extending gaining streak for the fourth straight session, TCS shares rose as much as 2.6% to scale a new peak of ₹4,229.30 on the BSE.
The IT major’s net profit fell 60.6% YoY to ₹510 crore, while revenue from operations slipped 5% to ₹13,101 crore in Q3 FY24.
TCS shares declined 1.2% to hit a low of ₹3,468 as the stock turned ex-date for share buyback today.
The board of LTIMindtree has declared an interim dividend of ₹20 per equity share of ₹1 each.
TCS is expected to post constant currency revenue growth of 1% with 20 bps cross currency headwinds translating into 0.8% QoQ dollar revenue growth.
The financial results and proposal for interim dividend, if any, will be presented to the board of directors on October 12, 2023 for their approval,” Infosys says in an exchange filing.