TCS Q3 Result: Share price jumps 4% as investors give thumbs up; buy, sell or hold?

After the announcement of the Tata Consultancy Services (TCS) Q3 results on Thursday evening (after market close), TCS share price witnessed an upside swing in the morning session on Friday. TCS share price today opened upside at 3,848 apiece level on NSE and went on to touch an intraday high of 3,8694 mark within a few minutes of the stock market's opening bell.

While climbing to this intraday high, TCS shares logged an intraday gain of over 4 per cent. According to experts, TCS share price is ascending today as the Indian IT major reported better than expected Q3 results 2024 on Thursday. TCS has managed to log profit despite a seasonally weak quarter buffeted by macroeconomic headwinds.

However, they maintained that is better than expected but it's not enough for the re rating of the stock. Is TCS Q3 results enough for fresh uptrend? On how this would impact TCS share price, Avinash Gorakshkar, Head of Research at Profitmart Securities said, “TCS has reported better than expected Q3 results.

The company has reported profit while the market was expecting muted numbers. The company's margins and revenue have also improved as it has got forex benefits. But, the single quarter results won't be enough for the re rating of the stock. So, one needs to remain vigilant about the company's business in North America and the UK in upcoming quarters." TCS share price target Expecting further upside in the short term, Sumeet Bagadia, Executive Director at Choice Broking said, “TCS share price has made strong base at 3725 apiece levels.

Those who have TCS stocks in their portfolio are advised to hold the scrip keeping the stop loss at 3725. TCS share price may go up to 4,000 apiece levels in the near term." For suggestion to fresh investors, Sumeet Bagadia said, “Fresh investors can maintain a buy on a dip strategy keeping stop loss at 3725 per share levels for short term target of 4,000 apiece levels." In Q3 results 2024, TCS' revenue grew 4 per cent year on year (YoY) while profit grew 2 per cent YoY.

The company's operating margin improved by 50 bps to 25 per cent during the quarter under review which, as per the company, excludes the one time charge of $125 million towards the settlement of legal claim. TCS reported a 4 per cent YoY rise in its Q3 consolidated revenue from operations at 60,583 crore against 58,229 crore in the same quarter last year.

Sequentially (quarter on quarter), the company's revenue inched up by 1.5 per cent against 59,692 crore in Q2FY24. Livemint tops charts as the fastest growing news website in the world to know more. Unlock a world of Benefits! From insightful newsletters to real time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away!.