TCS shares rise ahead of Q2 numbers

NEW DELHI: Shares of Tata Consultancy Services ( TCS) gained 2 per cent on Thursday ahead of its Q2 earnings today.

The stock advanced 1.92 per cent to close the day at Rs 2,548.55 on BSE. It opened at Rs 2,501.05 and touched an intraday high and low of Rs 2,555 and Rs 2,501.05 respectively.

Brokerage Edelweiss Securities expects the IT major to post revenue growth of 1.6 per cent in dollar terms and 0.7 per cent sequentially in constant currency terms. Margins may expand by 140 bps QoQ.

Promoters held 73.57 per cent stake in the company as of June 2017.

Also Read: TCS earnings preview: Revenue seen rising 2-2.5% in CC terms

For the quarter ended June 30, 2017, the company reported total revenue at 23,476 crore and net profit stood at 6,670 crore.

The scrip touched its fresh 52-week high of Rs 2,707.40 on June 6, 2017 and its 52-week low of Rs 2,054.70 on November 15, 2016.