• Source:JND
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TCS Share Price:  Shares of IT services giant Tata Consultancy Services (TCS) rose nearly 5 per cent on Friday morning after it reported an 11.95 per cent jump in net profit to Rs 12,380 crore for the December quarter.

The company's shares rose 4.73 per cent to Rs 4,227.70 on the Bombay Stock Exchange. It rose 4.60 per cent to Rs 4,225 on the National Stock Exchange. The company's market capitalization rose by Rs 69,829.1 crore to Rs 15,30,324.39 crore in morning trade.

TCS was the top gainer among Sensex and Nifty stocks amid a weak stock market trend. Other IT stocks were also in demand as Tech Mahindra, Infosys, HCL Tech and Wipro were listed at positive prices.

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Tata Group had posted a net profit of Rs 11,058 crore in the corresponding period last year and Rs 11,909 crore in the previous September quarter. The company's revenue rose 5.6 per cent to Rs 63,973 crore, compared to Rs 60,583 crore in the September quarter. However, this was down from Rs 64,259 crore.

New order bookings reached $10.2 billion, up from $7.9 billion last year, which is usually called a challenging quarter due to the holiday season.

Its chief executive officer K. Krithivasan said that the main factors affecting the IT sector continued in the reporting quarter, but new orders came in across industries, geographies and services sectors, giving "good visibility for long-term growth".

There are also early signs of a revival in discretionary spending, which was subdued for most of the fiscal year and was one of the factors driving the soft 4.6 per cent revenue growth in the first nine months.

Discretionary spending is expected to pick up from here on out, with calendar year 2025 expected to be better than 2024, Krithivasan said.

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