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Tata Consultancy Services (TCS) share price was down over 2 per cent in the morning session on April 12 in line with the market fall. During the day the IT services major is expected to report robust and best earnings growth among peers in the quarter ended March 2021, driven by a cross-currency tailwind, recovery in demand, the ramp-up of large deals, and strong demand in cloud adoption, brokerages said.
TCS share price rallied 11 per cent during the January-March quarter and spiked 74 per cent in the full year FY21, against 6.6 per cent and 102 per cent gains registered by the Nifty IT index during the periods. The country’s second-largest listed company by market capitalisation is likely to report more than 4 per cent growth in constant currency revenue and 5 per cent growth in dollar terms in Q4FY21 compared to Q3FY21.
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According to the brokerage, TCS is expected to register 4.2 per cent QoQ growth in constant currency led by anticipated improvement in demand from BFSI, healthcare and retail, acceleration in digital technologies and ramp-up of deals. The stock was trading at Rs 3,273.90, down Rs 45.75, or 1.37 per cent, at 11:11 hours. It has touched an intraday high of Rs 3,338.10 and an intraday low of Rs 3,239.10 on the NSE.
