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TCS Q2 Results Live Updates: Shares Decline In Run Up To Earnings

As many as 12 companies, are set to announce their quarterly results for the three months ending September 2024.

<div class="paragraphs"><p>The Tata Consultancy Services building. (Source: Company PR)</p></div>
The Tata Consultancy Services building. (Source: Company PR)

TCS Q2 Results Live: Closing Shares Prices of TCS Before Q2 Results Announcement 

Shares of TCS closed 0.60% lower at Rs 4,227.40 apiece, compared to a 0.07% rise in the benchmark NSE Nifty.

The stock has risen 16.49% in the last 12 months and 11.96% year-to-date.

TCS Q2 Results Live: Analysts Recommendations Ahead Of Earnings 

Thirty out of the 47 analysts tracking Tata Consultancy Services have a 'buy' rating on the stock, 10 suggest a 'hold' and seven have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 5.6%.

TCS is likely to clock a net profit of Rs 12,543 crore and revenue of Rs 64,186 crore for the quarter ended September, according to a survey of analysts' estimates done by Bloomberg.

TCS Onboards 11,000 Trainees In Q1, Aims For 40,000 In FY25

Tata Consultancy Services Ltd. said that it had onboarded 11,000 trainees in the quarter-ended June and will hire 40,000 employees for the year ending March 2025. 

The headcount of India’s largest software services exporter rose by 5,452 to 6,06,998 in the first quarter. Its headcount fell by 13,249 in FY24. Attrition dipped to 12% in Q1 as compared to 12.5% a quarter ago.

Milind Lakkad, chief human resources officer of TCS, said in the Q1 earnings call that attrition will stabilise in the second quarter. “Trainees are a key strategy for talent development for TCS, and that will continue this year,” he said. “The net headcount every quarter will be difficult to call out because it depends on various factors.”

Read more here.

Nifty, Sensex Pare Gains As Infosys, Trent Share Prices Fall: Midday Market Update

The NSE Nifty 50 and BSE Sensex pared most gains from the morning, tracking declines in Infosys Ltd. and Trent Ltd.'s share prices. As of 11:47 a.m., the Nifty 50 was 0.17%, or 42.50 points higher at 25,024.45, and the Sensex was up 214.98 points, or 0.26% at 81,682.08.

So far today, Nifty rose as much as 0.61% to 25,134.05, and Sensex rose 0.66% to 82,002.84. Rise in most Asian shares in the early trade also provided support to the benchmark indices.

Nifty has been trading in the range of 24,800-25,200 over the past few days and an either side breakout would decide the next leg of move from current levels, said Vikas Jain, head of research, Reliance Securities Ltd.

The relative strength index has witnessed up-move from the lower range and the brokerage expects volatility to increase with respect to the weekly expiry. Highest call open interest has moved higher to 25,300 strikes, while in the downside, the highest put OI is at 24,500 for the weekly expiry, Jain said.

TCS Q2 Results Live Updates: Shares Decline In Run Up To Earnings
TCS Q2 Results Live Updates: Shares Decline In Run Up To Earnings
TCS Q2 Results Live Updates: Shares Decline In Run Up To Earnings
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Shares of HDFC Bank Ltd., Kotak Mahindra Bank Ltd., Mahindra & Mahindra Ltd., Axis Bank Ltd. and Larsen & Toubro Ltd. were positively contributing to changes in the Nifty.

While those of Infosys Ltd., Trent Ltd., Hindustan Unilever Ltd., Titan Co. Ltd., and Tata Motors Ltd. weighed the index.

TCS Q2 Results Live Updates: Shares Decline In Run Up To Earnings
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On NSE, six out of 12 sectors advanced, four declined, and one remained flat. The NSE Nifty Energy rose the most, and the NSE Nifty Pharma declined the most.

TCS Q2 Results Live Updates: Shares Decline In Run Up To Earnings

Broader markets rose on Thursday. The BSE Midcap and Smallcap indices were trading 0.12% and 0.58% higher, respectively.

On BSE, 16 out of 20 sectors advanced and four declined. The BSE Utilities rose the most, while the BSE Healthcare declined the most.

Market breadth was skewed in the favour of buyers. Around 2,389 stocks advanced, 1,305 stocks declined, and 160 stocks remained unchanged on BSE.

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TCS Q2 Results: What To Watch Out For

TCS is likely to clock a net profit of Rs 12,543 crore and revenue of Rs 64,186 crore for the quarter ended September, according to a survey of analysts' estimates done by Bloomberg.

Here are the key factors to watch out for in their earnings update:

  • Reason for the absence of growth, excluding India.

  • Qualitative commentary for margin and growth guidance.

  • Revival in the banking space.

TCS Shares Trade Lower Ahead Of Q2 Results

Shares of Tata Consultancy Services Ltd. gave up early gains to trade lower ahead of the IT major's announcement of its second-quarter earnings.

The IT bellwether has cancelled its September quarter earnings press conference and interviews scheduled later on Thursday after the demise of Ratan Tata.

TCS is likely to clock a net profit of Rs 12,543 crore and revenue of Rs 64,186 crore for the quarter ended September, according to a survey of analysts' estimates done by Bloomberg.

TCS Q2 Results Live Updates: Shares Decline In Run Up To Earnings

TCS stock rose as much as 0.87% during the day to Rs 4,290 apiece on the NSE. It gave up gains to trade 0.63% lower at Rs 4,226.3 apiece, compared to a 0.24% advance in the benchmark Nifty 50 as of 1:19 p.m.

It has risen 16.4% during the last 12 months and has advanced by 12% on a year-to-date basis. The relative strength index was at 42.

Thirty out of the 47 analysts tracking the company have a 'buy' rating on the stock, 10 suggest a 'hold' and seven have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 5.6%.

Here's How TCS Fared In Previous Quarter

Tata Consultancy Services reaffirmed its commitment to achieving a margin above 26%, despite experiencing its first contraction in four quarters during the April-June period.

The company aims to maintain margin levels of 26-28%, Chief Financial Officer Samir Seksaria told reporters, adding that margins will increase quarter by quarter. The company last achieved a margin of more than 26% during the fourth quarter of the financial year ending March 2021.

India's largest software services provider reported an EBIT margin of 24.7% for the first quarter of the financial year, down from 26% in the previous quarter. Analysts tracked by Bloomberg had estimated a margin of 24.5%.

Read more here.

Q2 Results Today: GM Breweries Net Profit Falls 3%

GM Breweries Ltd.'s net profit declined in the second quarter of fiscal 2025.

The net profit of the company fell 3.1% year-on-year to Rs 21.7 crore in the quarter ended September. This compares to a profit of Rs 22.4 crore in the same period last year.

Revenue rose 0.2% year-on-year to Rs 149 crore in the July-September quarter.

Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 7,4% year-on-year to Rs 27.5 crore. The Ebitda margin contracted to 18.5% from 19.6% in the previous year.

TCS Shares Trade Higher Ahead Of Q2 Results 

Shares of Tata Consultancy Services Ltd. trade higher ahead of the IT major's announcement of its second-quarter earnings.

The IT bellwether has cancelled its September quarter earnings press conference and interviews scheduled later on Thursday after the demise of Ratan Tata.

TCS is likely to clock a net profit of Rs 12,543 crore and revenue of Rs 64,186 crore for the quarter ended September, according to a survey of analysts' estimates done by Bloomberg.

TCS Q2 Results Live Updates: Shares Decline In Run Up To Earnings

TCS stock rose as much as 0.87% during the day to Rs 4,290 apiece on the NSE. It was trading 0.47% higher at Rs 4,273 apiece, compared to a 0.24% advance in the benchmark Nifty 50 as of 11:55 a.m.

Thirty out of the 47 analysts tracking the company have a 'buy' rating on the stock, 10 suggest a 'hold' and seven have a 'sell', according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 5.6%.

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Macquarie Prefers TCS Over Infosys — Here's Why

Tata Consultancy Services Ltd. is Macquarie's pick over Infosys Ltd. due to better rebound in spending trends after Covid-19 and the global financial crisis.

The stock is the brokerage's top pick among large-cap IT services companies and also a Macquarie Marquee idea, it said while maintaining an 'outperform' rating. The brokerage has a target price of Rs 5,740 per share.

When spending picks up, the brokerage said, it expects more cloud migration deals to be bundled between applications and infrastructure services and sees TCS as better positioned than Infosys.

The brokerage expects the Tata-group company to grow faster than Infosys in both fiscals 2026 and 2027.

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TCS Guides For Softer Q2 Earnings 

TCS management, while talking to analysts about July-Sept guidance, said that they expect the second quarter to be soft. The growth and deals won in the first quarter are likely fizzling out, according to the management, and that added that the business in North America and BFSI is in bit of struggling mode.

Indian IT companies conduct substantial business with American firms, thus, making them vulnerable to the US economic environment.

Here's What Analysts Expect From IT In Q2

Discretionary demand trends and the green shoots especially in the banking space would be in focus as they contribute to majority of IT companies' revenues.

Even as the July-September period tends to be a strong quarter for the sector, analysts expect TCS to be a laggard, while Infosys Ltd. and LTIMindtree Ltd. are seen leading revenue growth.

The market could find it difficult to support the current valuations of the IT sector, according to CLSA

Read full story here.

TCS Post Earnings Press Conference Cancelled After Ratan Tata’s Death

Tata Consultancy Services Ltd. has cancelled its September quarter earnings press conference and interviews scheduled later on Thursday after the demise of Ratan Tata.

The IT giant, however, will release the Q2 financial results and analyst call on Thursday, Oct. 10, after the board meeting, as decided earlier.

Legendary industrialist Ratan Tata, who served as the chairman of the Tata Group from 1991 to 2012, died on Wednesday at the age of 86.

TCS And Other Salt-To-Software Stocks In Focus After Ratan Tata Demise

Shares of Tata Technology Services Ltd., Tata Motors Ltd., Tata Chemicals Ltd. and group stocks of the conglomerate held steady after its former Chairman, Ratan Tata, passed away on Wednesday.

The chairman emeritus of Tata Sons and a highly regarded Indian industrialist died at the age of 86. He led the Tata Group for around 21 consecutive years between 1991 and 2012.

While being at the helm of expanding one of India's biggest conglomerates, Tata also nurtured several startups when they weren't sector leaders, such as Urban Company, CashKaro, BlueStone, CarDekho and Tracxn.

The scrip of Tata Investment Corp. rose by over 12% in early trade while TRF Ltd. surged 10% on Thursday. Shares of Tata Chemicals Ltd., Tata Elxsi Ltd., and Tata Technologies Ltd. were up by over 3%, each. This compares to a 0.5% advance in the benchmark Nifty 50 as of 10:09 a.m.

The share price of Trent Ltd., and Tinplate Company of India Ltd., declined slightly in trade on Thursday.

Q2 Results Today: TCS Likely To See Soft Business

The Tata-owned IT major told clients that the second quarter will be soft with most business coming in from India, which was 7.5% of total revenue in the first quarter.

CLSA sees further downside to the second quarter sequential revenue growth forecast of 1.8% in constant currency terms, given a sharp ramp up in BSNL contracts post the conclusion of central elections.

Bank of America says that first-quarter demand trends are not expected to carry forward in this quarter, especially for developed markets, like US and UK.

Growth disappointments are possible at TCS, according to Ambit Capital.

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Q2 Results Today — TCS, Ireda Earnings Estimates

TCS is likely to clock a net profit of Rs 12,543 crore and revenue of Rs 64,186 crore for the quarter ended September, according to a survey of analysts' estimates done by Bloomberg.

Tata Elxsi Ltd. will also be reporting its results for the quarter on Thursday. The company is likely to report a net profit of Rs 200 crore for the second quarter, according to estimates.

Ireda reported a 303% jump in loan sanctions during the first half of FY25, at Rs 17,860 crore, against Rs 4,437 in the year-ago period. The company's loan disbursement grew 56% YoY to Rs 9,787 crore in H1FY25, up from Rs 6,273 crore in the same period a year ago.

Here are the earnings estimates of major companies that are scheduled to announce their results on Thursday: 

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TCS, Tata Elxsi, IREDA Q2 Results Today — Earnings Estimates

TCS, Ireda To Kick Start India Inc.'s Q2 Earnings 

India's largest IT firm Tata Consultancy Services Ltd., state-owned Indian Renewable Energy Development Agency Ltd. and Tata Elxsi Ltd. will kick-start India Inc.'s earnings season for the second quarter on Thursday.

As many as 12 companies, are set to announce their quarterly results for the three-month period ending September 2024.

Anand Rathi Wealth Ltd., Hathway Bhawani Cabletel & Datacom Ltd., Arkade Developers Ltd., GM Breweries Ltd., Ashoka Metcast Ltd., NB Footwear Ltd., Reliance Naval and Engineering Ltd., Infomedia Press Ltd. and Den Networks Ltd. are set to report their earnings on Thursday.

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