TCS stock up over 4% after Q3 profit rises 2%, on expectations of demand recovery next quarter; Brokerages raise target price

Shares of Tata Consultancy Services jumped 4.4% to Rs 3,899.95 a day after the company reported its third-quarter results for FY 24. The company posted a net profit of Rs 11,058 crore, a jump of 2%, against Rs 10,846 crore.

Here’s brokerages’ view on Tata Consultancy Services

BNP Paribas India

According to the brokerage house despite the BSNL deal ramp-up, operating margin continued to see a swift recovery, beating the consensus and the brokerage’s expectations. The brokerage is on the view that the company was able to drive margin expansion through better realization, productivity, and lower sub-contracting costs.