TCS slumped 7.11% to Rs 922 at 10:45 IST on BSE after the company reported 5.95% fall in net profit to Rs 1108.81 crore in Q4 March 2008 over Q3 December 2007.
The stock hit a high of Rs 980 and a low of Rs 912.35 so far during the day. The stock had a 52-week high of Rs 1299.50 on
The company’s current equity is Rs 97.86 crore. Face value per share is Re 1.
The current price of Rs 922 discounts its Q4 March 2008 annualized EPS of Rs 45.32, by a PE multiple of 20.34.
TCS posted 2.23% rise in net sales to Rs 4942.49 crore in Q4 March 2008 over Q3 December 2007.
TCS reported 7% growth in net profit as per US GAAP at Rs 1256 crore on 18.4% growth in revenue at Rs 6095 crore in Q4 March 2008 over Q4 March 2007. The company’s management sounded positive on growth prospects despite worries that a weak
The company said the deal pipeline is encouraging and client ramp-ups have started happening
Meanwhile, some of the prominent brokerages have downgraded the stock after the disappointing results. Morgan Stanley has downgraded its rating on TCS to equal-weight from overweight. Similarly, Lehman Brothers Inc. has also cut its share price estimate for the Tata Consultancy Services stock to Rs 1,161 from Rs 1,286 earlier.
On
The company provides IT and business process outsourcing services. The group provides services to industries such as banking and financial services, insurance, manufacturing, telecommunications, retail and transportation.
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