TCS gains 5% in two days, stock at life-time high ahead of Q2 results

Shares of Tata Consultancy Services hit a new high at Rs 3,990, up 2.5 per cent on the BSE in Friday’s intra-day trade, and has now gained 5 per cent in the last two trading sessions, ahead of its July-September quarter (Q2FY22) results. The information technology (IT) will announce last quarter results late in the evening today. The stock surpassed its previous high of Rs 3,981.55 touched on September 16, 2021.

The recent Accenture guidance suggests the demand environment for Indian IT companies continues to be strong. In our view, it is not a quarter phenomenon but there are some structural changes happening on the ground that may bring cheer for Indian IT companies in years to come, analyst at ICICI Securities said in IT sector report.