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November 21 2019
TCS pips Infosys as top IT pick after stellar results
14 July 2011

Shares of the country's largest software company TCS spurted by 20 per cent to touch an all-time high in early trade on the BSE today, boosted by smart growth in net profit for the first quarter of FY2011-12, which analysts termed as above market expectations.

The stock, which opened the day on a strong note, surged by 20 per cent to touch a lifetime high of Rs 1,350.30 in early trade on the BSE. However, shortly thereafter, the scrip pared some of the gains and was trading at Rs 1,152, up 2.38 per cent from its previous close.

On the NSE, the scrip surged by 4.82 per cent to touch an early high of Rs 1,177.90.

The scrip was the top gainer among the 30 stocks in the Sensex pack.

"TCS reported Q1, FY'12, results ahead of our estimates.

The comprehensive outperformance on all parameters demonstrates strength of demand. However, we continue to believe that margin levers for the company are stretched. We revise our estimates upward and reiterate our 'BUY' rating," brokerage firm Prabhudas Lilladher said in a note.

 

 

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