The Sensex has climbed more than 900 points to a record high of 80,893. Nifty is also up 270 points, it reached an all-time high of 24,592. However, right now the market has come down slightly from the record high. Sensex is trading 700 points and Nifty 200 points up.
Out of 30 Sensex stocks, 25 are up and 5 are down. The IT index has risen nearly 4% today after TCS’s strong quarterly results. TCS stock is trading above Rs 4180, up nearly 7%. Infosys, Tech Mahindra and HCL Tech are also up about 3.5 per cent.
Three big things related to the market:
TCS released its first quarter results for FY25 on Thursday. After strong results, its stock is up by about 7% today. Infosys stock has also risen by about 3.5%. This is supporting the market.
On Thursday, domestic investors bought while foreign investors sold. According to NSE data, DIIs bought shares worth Rs 1,676.47 crore. During this period, FIIs sold shares worth Rs 1,137.01 crore.
US markets closed in the red on Thursday. Nasdaq fell 1.95% to reach 18,283 points. Dow Jones Industrial Average closed 0.08% higher at 39,753.75 points. S&P 500 fell 0.88%.
TCS earns Rs 12,040 crore profit in first quarter
India’s most valuable IT company Tata Consultancy Services Limited (TCS) has reported a consolidated net profit of Rs 12,040 crore in the first quarter (April-June) of FY 2024-25. It has increased by 8.72% on an annual basis.
The company had a net profit of Rs 11,074 crore in the same quarter a year ago. Talking about earnings during this period, it has been Rs 63,575 crore in the April-June quarter. It has increased by 5.44% on an annual basis.
TCS has also announced a dividend of Rs 10 per share to its shareholders. Companies give a part of the profit to their shareholders, it is called dividend. TCS shares closed 0.18% down at Rs 3,902 yesterday.
