TCS shares rally 5%; top 5 IT stocks add Rs 56,000 cr in m-cap, shrug off H-1B visa suspension
Tata Consultancy moved higher.
· Business Today Mkts
TCS shares climbed 4.73 per cent to Rs 2,173.55 apiece, adding Rs 31,857.26 crore to its m-cap, which swelled to Rs 7,82,700 crore. Infosys added Rs 10,206 crore to its m-cap as the stock rose 2.23 per cent to Rs 1,016.80.
The analysis
Tata Consultancy reported Rs 56,000 cr, Rs 2,173.55 and Rs 31,857.26 crore, with movement of 5%, 4.73% and 2.23% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.
Against that, the stock is +4.6% on the day at ₹2,172.30, and has returned +5.5% over three months. It sits 35% below its 52-week high, which means a good deal of bad news was already in the price. The it sector has moved +1.2% over the same period, so Tata Consultancy is running 4.3 points ahead of its peers.
For Tata Consultancy, the question is how much of this is already reflected in the price and how much re-rates the it peer set alongside it.
Market context
- The company directly in focus is TCS.
- Sector exposure: IT.
- The immediate tone of coverage reads positive.
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