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    TCS   INE467B01029

TATA CONSULTANCY SERVICES LTD.

(TCS)
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Tata Consultancy Services : Indian shares rebound as government speeds up vaccine approvals

04/13/2021 | 06:39am EDT
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai

BENGALURU (Reuters) - Indian shares ended more than 1% higher on Tuesday after the government moved to fast-track approvals for foreign COVID-19 vaccines, with beaten-down financial stocks leading the gains.

India is to fast-track emergency approvals for shots already approved in Western countries and Japan, paving the way for possible imports of Pfizer, Johnson & Johnson, Novavax and Moderna vaccines.

The news comes as the country battles a massive second wave of the virus that has spurred fresh restrictions in some parts and threatened to derail a nascent economic recovery.

The NSE Nifty 50 index closed 1.36% higher at 14,504.80 and the S&P BSE Sensex ended 1.38% higher at 48,544.06, rebounding after surging infections pushed the indexes to their second-worst session this year on Monday.

"The rising COVID cases have been the biggest source of nervousness in the markets, so the speeding up of (vaccine) approval is clearly helpful," said Anita Gandhi, director at Arihant Capital Markets in Mumbai.

"There was also good value in buying after yesterday's correction," she added.

Beaten-down state-run banks gained 4.4% and were among the top sectoral gainers. The index had dropped 9% in the previous session.

Automotive stocks also surged over 4%, with Tata Motors rising 5.7% after sales at its Jaguar Land Rover unit surged.

Metal stocks advanced 3.4% after benchmark iron ore prices surged on falling supplies from major miners and strong demand.

Bucking the trend, IT services stocks fell 3.3%. Heavyweight TCS fell 4.4% as investors locked in gains from the stock's 10% jump this year.

(Reporting by Soumyajit Saha in Bengaluru, additional reporting by Sachin Ravikumar; Editing by Aditya Soni)

By Soumyajit Saha


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
SENSEX 30 -0.52% 52578.76 Real-time Quote.10.11%
TATA CONSULTANCY SERVICES LTD. -0.46% 3148 Delayed Quote.11.19%
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Financials
Sales 2022 1 907 B 25 623 M 25 623 M
Net income 2022 394 B 5 290 M 5 290 M
Net cash 2022 431 B 5 785 M 5 785 M
P/E ratio 2022 30,0x
Yield 2022 2,36%
Capitalization 11 774 B 158 B 158 B
EV / Sales 2022 5,95x
EV / Sales 2023 5,26x
Nbr of Employees 488 649
Free-Float 27,8%
Chart TATA CONSULTANCY SERVICES LTD.
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Tata Consultancy Services Ltd. Technical Analysis Chart | TCS | INE467B01029 | MarketScreener
Technical analysis trends TATA CONSULTANCY SERVICES LTD.
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 37
Last Close Price 3 182,95 INR
Average target price 3 485,69 INR
Spread / Average Target 9,51%
EPS Revisions
Managers and Directors
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
Samir Seksaria Chief Financial Officer
Natarajan Chandrasekaran Non-Executive Chairman
K. Ananth Krishnan Chief Technology Officer
N. Ganapathy Subramaniam COO & Non-Independent Executive Director
Sector and Competitors
1st jan.Capi. (M$)
TATA CONSULTANCY SERVICES LTD.11.19%159 080
ACCENTURE PLC22.46%202 277
INTERNATIONAL BUSINESS MACHINES CORPORATION13.40%127 568
INFOSYS LIMITED27.72%91 502
AUTOMATIC DATA PROCESSING, INC.17.07%87 772
SNOWFLAKE INC.-4.48%79 599