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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Tata Consultancy Services    TCS   INE467B01029

TATA CONSULTANCY SERVICES

(TCS)
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Indian shares edge up along with Asian peers after Yellen boost

01/20/2021 | 12:04am EST

BENGALURU, Jan 20 (Reuters) - Indian shares edged higher on Wednesday, led by gains in information technology stocks and on positive global cues after U.S. Treasury Secretary nominee Janet Yellen advocated for a huge fiscal relief package in the United States.

The blue-chip NSE Nifty 50 index rose 0.4% to 14,574 and the benchmark S&P BSE Sensex was up 0.3% at 49,544.75 by 0450 GMT. The Nifty and Sensex rose 1.7% on Tuesday.

At her confirmation hearing on Tuesday, Yellen urged U.S. lawmakers to "act big" on the next coronavirus relief package.

"These are the indicators investors are watching for... This is a classic bull run, which will continue until the central bankers take away the accommodative stance, which will not happen in the near future," said Saurabh Jain, assistant vice president of research at SMC Global Securities in New Delhi.

U.S. President-elect Joe Biden, who will be sworn into office on Wednesday, last week laid out a $1.9 trillion stimulus package proposal to boost the economy.

The Nifty IT index was the top gainer, rising 2.5%. Infosys Ltd and Tata Consultancy Ltd rose 2.2% and 1.6%, respectively and were the top boosts to the index.

The index has gained about 55% in 2020 and is so far up 10%.

"The IT companies have given phenomenal numbers and guidance was good. (Still) there was some profit booking. The underlying factors of Indian IT companies are pretty much strong. Serious investors will not unload positions in these stocks," Jain said.

Shares of Nifty 50 components Bajaj Finance were flat, while Bajaj Finserv rose 0.9% ahead of their Dec. quarter earnings later in the day.

Asian shares climbed to a record high on Wednesday over Yellen's backing for more stimulus to help the world's largest economy ride out a pandemic-driven slump. (Reporting by Nallur Sethuraman in Bengaluru; Editing by Shailesh Kuber)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BAJAJ FINANCE LIMITED -5.28% 5238.3 End-of-day quote.-1.09%
BAJAJ FINSERV LIMITED -6.00% 9648.6 Delayed Quote.8.33%
INFOSYS LIMITED -1.67% 1253.3 Delayed Quote.-0.20%
NIFTY 50 -3.76% 14529.15 Delayed Quote.7.98%
NIFTY IT 0.38% 24301.45 Delayed Quote.2.56%
SENSEX 30 -3.80% 49099.99 Real-time Quote.6.89%
TATA CONSULTANCY SERVICES -3.37% 2894.3 Delayed Quote.1.10%
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Financials
Sales 2021 1 642 B 22 219 M 22 219 M
Net income 2021 330 B 4 460 M 4 460 M
Net cash 2021 271 B 3 669 M 3 669 M
P/E ratio 2021 32,8x
Yield 2021 1,62%
Capitalization 10 706 B 145 B 145 B
EV / Sales 2021 6,35x
EV / Sales 2022 5,51x
Nbr of Employees 469 261
Free-Float 26,9%
Chart TATA CONSULTANCY SERVICES
Duration : Period :
Tata Consultancy Services Technical Analysis Chart | TCS | INE467B01029 | MarketScreener
Technical analysis trends TATA CONSULTANCY SERVICES
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 38
Average target price 3 314,54 INR
Last Close Price 2 894,30 INR
Spread / Highest target 44,3%
Spread / Average Target 14,5%
Spread / Lowest Target -35,0%
EPS Revisions
Managers and Directors
NameTitle
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
V. Ramakrishnan Chief Financial Officer
Natarajan Chandrasekaran Non-Executive Chairman
K. Ananth Krishnan Chief Technology Officer
Kamal Bhadada Head-Communication, Media & Information Services
Sector and Competitors
1st jan.Capitalization (M$)
TATA CONSULTANCY SERVICES1.10%144 507
ACCENTURE PLC-3.95%159 130
INTERNATIONAL BUSINESS MACHINES CORPORATION-2.71%106 275
AUTOMATIC DATA PROCESSING, INC.-0.38%74 470
INFOSYS LIMITED-0.20%71 787
VMWARE, INC.-1.46%57 952