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Information Technology shares up 1-2% ahead of TCS results

TCS had reported a net profit of Rs 9,008 crore in the June quarter, up 28.5 per cent

IT stocks are in the limelight in a strong market ahead of TCS’s Q2 results. India’s largest IT services company will be the first to announce its second quarter earnings on Friday. Infosys, TCS, Tech Mahindra and HCL Tech formed four of the top six Sensex for the day, each posting a gain of 1-2 per cent in a firm market.

According to analysts, the market will closely monitor the company’s revenue during the quarter, and will also watch the deal pipeline and management’s comments about the company and the business environment. Unlike other IT companies, TCS does not provide formal revenue growth guidance.

TCS reported a net profit of Rs 9,008 crore in the June quarter, up 28.5 per cent from Rs 7.008 crore in the same quarter a year ago, driven by higher demand for cloud services and strong growth in its banking and finance business. Was.

The company’s revenue from operations grew 18.5 per cent to Rs 45,411 crore and total income to Rs 46,132 crore in the June quarter.

At 1:05 pm, TCS shares were trading 1.5 per cent higher at Rs 3952.75 on the BSE, while benchmark indices were up 0.5 per cent.

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