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Why TCS is soaring this Friday morning


26 May 2018 10:17

Tata Consultancy Services (TCS) hit a new high on Friday morning, after impressive fourth quarter results and a liberal 1:1 bonus announcement triggered hectic buying at the counter. The rupees continued weakness against the US dollar is also aiding the stocks surge.The stock is up nearly 5.5% at Rs 3359.25, a record high, on NSE. On BSE, the stock is currently up 5.3% at Rs 3357. The TCS counter on BSE has clocked a volume of about 4.7 lakh shares so far in the session on Friday, as compared to the average daily volume of 1.55 lakh shares. On NSE, the counter has clocked a volume of more than 4.4 million shares so far.Shares of other IT majors Infosys, Wipro, HCL Technologies and Tech Mahindra are also up sharply this morning.Tata Consultancy Services announced after trading hours on Thursday that its consolidated net profit rose 5.81% to Rs 6925 crore on 3.79% increase in net sales to Rs 32075 crore in the fourth quarter ended March 2018, over the correponding q.
Why TCS is soaring this Friday morning. This article is published at 26 May 2018 10:17 from Sify Indian Business and Finance News, click on the read full article link below to see further details.


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