This BSE IT company has outperformed its benchmark index in today’s session

Today, the stock opened at Rs 3289 and has touched a high and low of Rs 3349 and Rs 3272, respectively.

At 2 pm, shares of Tata Consultancy Services were trading at Rs 3342.05, up by 55.85 points or 1.70% from its previous closing of Rs 3286.20 on the other hand S&P BSE IT index stood flat gaining only 0.087% in today’s session.

Tata Consultancy Services (TCS) has reported results for the third quarter that ended on December 31, 2022 (Q3FY23).

The company reported a 7.03% increase in net profit for the quarter under review, at Rs 10,659 crore, compared to Rs 9,959 crore for the same quarter the previous year. The company's total income increased 18.02% to Rs 50,833 crore in Q3FY23, compared to Rs 43,070 crore in the previous year's corresponding quarter.

On a consolidated basis, the company reported a 10.98% increase in net profit for the quarter under review, at Rs 10,883 crore, compared to Rs 9,806 crore in the same quarter the previous year. The company's total income increased 17.29% to Rs 58,749 crore in Q3FY23, compared to Rs 50,090 crore in the previous year's corresponding quarter.

Tata Consultancy Services is the flagship company and a part of the Tata Group. It is an IT services, consulting and business solutions organization that has been partnering with many of the world's largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive-powered, integrated portfolio of business, technology and engineering services and solutions.

Shares of TCS are currently trading at a P/E of 30.75x with ROE and ROCE of 44.13% and 60.22%, respectively. The BSE group 'A' stock of face value of Rs 1 has a 52-week high and low of Rs 4045.50 and Rs 2926.00, respectively.

Last one week high and low of the scrip stood at Rs 3349.00 and Rs 3200.00, respectively. The current market cap of the company is Rs 1221062.03 crore. The promoters holding in the company stood at 72.30%, while Institutions and Non-Institutions held 21.63% and 6.06%, respectively.