TCS share price hits new 52-week high on stellar Q3 results; Infosys, HCL Tech, Wipro scale fresh peaks

Tata Consultancy Services (TCS) share price jumped 3.5 per cent to hit a fresh 52-week high of Rs 3,230 apiece on BSE today, following better-than-expected October-December quarter results for the fiscal. The IT major reported 7.17 per cent on-year rise in the consolidated net profit to Rs 8,727 crore, as compared to Rs 7,504 crore in the July-September quarter. Nifty IT index too topped 26,800 points, rising 2.5 per cent in the opening deals. Other IT stocks in the index also touched new 52-week highs with Infosys rising to Rs 1,365.95, HCL Technologies to 1,029, Wipro to Rs 444.95, Mindtree to Rs 1,764.50 and Tech Mahindra to Rs 1,068.65 per share. AR Ramachandran, Co-founder & Trainer, Tips2Trade, told Financial Express Online that strong Q3FY21 results with guidance of double-digit growth in FY22 has led TCS and other IT stocks making new highs.