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    INFY   INE009A01021

INFOSYS LIMITED

(INFY)
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TCS extends falls on profit-taking after quarterly earnings

04/13/2021 | 01:40am EDT
Logos of TCS are displayed at the venue of the annual general meeting of the software services provider in Mumbai

BENGALURU (Reuters) - Shares of Tata Consultancy Services Ltd fell as much as 4.5% on Tuesday as investors locked in gains a day after India's top IT services firm reported a 15% jump in quarterly profit.

Indian IT services companies such as TCS, Wipro and Infosys, which offer a range of services to clients in the banking, retail and other sectors by helping them run their business processes, have continued winning contracts and expanding over the past few months.

March-quarter profit came in at 92.46 billion rupees ($1.23 billion) for TCS, the country's biggest software services exporter, but closely missed analysts' expectations for 93.63 billion rupees, according to Refinitiv data.

"Expectations were built into the (share) prices before the announcements. This is most likely regular profit-taking, as investors want to book profits now and re-enter the stock when it is lower," said Anita Gandhi, director at Arihant Capital Markets.

TCS shares, which had a run-up of about 8% in the last two weeks, closed 2.3% lower on Monday ahead of results after market hours.

The Nifty IT index fell 2.2% on Tuesday, mainly dragged down by TCS shares. Smaller peers Infosys and Wipro will report their results later in the week.

TCS said revenue from its banking, financial services and insurance business rose 15.5%, the most among its units. The business was also the biggest contributor to the company's consolidated revenue, which jumped 9.4%.

The Mumbai-based company declared a final dividend of 15 rupees per share, compared with 6 rupees per share a year earlier.

TCS appointed Samir Seksaria as its chief financial officer, replacing Ramakrishnan V who is set to retire later this month.

($1 = 75.2930 Indian rupees)

(Reporting by Soumyajit Saha and Nallur Sethuraman in Bengaluru; Editing by Aditya Soni and Subhranshu Sahu)

By Soumyajit Saha and Sethuraman N R


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
INFOSYS LIMITED 0.68% 1660.1 Delayed Quote.31.33%
TATA CONSULTANCY SERVICES LTD. 0.64% 3292 Delayed Quote.14.36%
WIPRO LIMITED -0.38% 596.85 End-of-day quote.54.52%
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Financials
Sales 2022 1 184 B 15 962 M 15 962 M
Net income 2022 221 B 2 984 M 2 984 M
Net cash 2022 306 B 4 130 M 4 130 M
P/E ratio 2022 31,3x
Yield 2022 1,94%
Capitalization 6 996 B 94 278 M 94 323 M
EV / Sales 2022 5,65x
EV / Sales 2023 4,96x
Nbr of Employees 267 953
Free-Float 84,9%
Chart INFOSYS LIMITED
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Infosys Limited Technical Analysis Chart | INFY | INE009A01021 | MarketScreener
Technical analysis trends INFOSYS LIMITED
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 37
Last Close Price 1 649,25 INR
Average target price 1 759,40 INR
Spread / Average Target 6,68%
EPS Revisions
Managers and Directors
Salil S. Parekh Chief Executive Officer, MD & Executive Director
Mohit Joshi Co-President
Ravi Kumar S. Co-President & Deputy Chief Operating Officer
Nilanjan Roy Chief Financial Officer
Nandan M. Nilekani Non-Executive Chairman
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