TCS share price hits new record high m-cap tops should you book profit or hold

TCS Outlook: TCS shares hit record high, book profit or hold? Expert’s opinion

TCS has given 64 per cent returns to investors in the last one year and 25.24 per cent this year so far in 2021.

TCS Outlook: Tata Consultancy Services (TCS) reached a new high in intra-day on the BSE today amid a rally in the domestic stock market. Shares of TCS rose by more than 2 percent to reach a price of Rs 3697 today. With reaching this new high, TCS became the second listed company in the country to cross the market cap of Rs 13.5 lakh crore. TCS’s market cap is now about 3 per cent away from the Rs 14 lakh crore level. At present, Reliance Industries is at the forefront of market capitalization. The market cap of Reliance Industries is Rs 14.51 lakh crore. After reaching the record level, now investors are confused whether to hold it or book profit?

Earlier this week, TCS had crossed its previous record level of Rs 3672.50 earlier this week. Talking about the last one year, TCS has given 64 per cent returns to investors and 25.24 per cent so far this year in 2021. TCS has outperformed the Sensex and has gained 15 per cent in a month, compared to a 6 per cent rise in the Sensex.

Stock Tips: Nifty showing bullish trend, make such a strategy to invest in these 4 stocks including Reliance and SBI

This is the opinion of experts regarding IT industry and TCS

  • According to analysts, IT stocks have performed well this month in August 2021. This is mainly due to increasing digitization and consequent cost reduction and the prospects of improving financial results in the coming quarters. However, according to Tips2Trade co-founder and trainer AR Ramachandran, technically TCS shares are looking overbought and investors should book profits at current levels. According to Ramachandran, this stock can be entered again at a price of Rs 3395-3440.

Jhunjhunwala Portfolio: Rakesh Jhunjhunwala bought shares of Canara Bank, here is the opinion of experts for investors

  • According to Ashis Biswas, Head of Research, CapitalVia Global Research, TCS has been the best performer in the continuous growth of the IT industry and is less affected by the corona epidemic due to healthy revenue growth, stable margins and strong order bookings, apart from work from home. . Biswas believes that the growth in the IT sector will continue even further as the revenue of many companies has come down due to Corona and now they are shifting towards developing countries due to low charges. Due to this, the customer base of IT companies increased and as a result revenue also increased. According to Biswas, this pattern will continue even further as companies across the world are getting better jobs at less cost.
    (Article: Surbhi Jain)
    (The stock recommendations given in the story are those of the respective research analysts and brokerage firms. Financial Express Online takes no responsibility for the same. Investments in capital markets are subject to risks. Please consult your advisor before investing.)

Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.

.

realistic reality mobile new
Default image
Business Khabar
We aim to constantly bring to you all the latest and most updated industry news across all major categories. With a wide variety of topics and categories under our umbrella, we bring to you the latest news and activities in the top sought areas of public interest.
Articles: 5415