As of October 24, 2024, the Tata Consultancy Services (TCS) share price is witnessing a slight decline of 0.46%, trading at ₹4048.15. TCS, a key player in the IT sector and one of the largest IT service providers globally, plays a significant role in shaping market trends and influencing investor sentiment.
| Table of Contents |
|---|
| I. Trading Summary |
| II. Market Context |
| III. Technical Analysis |
| IV. Fundamental Analysis |
| V. Shareholding Pattern |
| VI. Market Comparison |
| VII. Conclusion |
| VIII. FAQ |
I. Trading Summary
The trading day for TCS opened with an introductory price of ₹4016.35 and saw a close at ₹4048.15, marking a gain of ₹31.80 by the end of the session. The stock exhibited volatility through the day, reaching an intraday high of ₹4075.60 and dipping to an intraday low of ₹4016.35.
II. Market Context
TCS’s performance is notably affected by the broader market dynamics, as evidenced by the downturn in market indices. The Nifty index declined by 0.15%, while the Sensex fell by 0.02%. This broader market sentiment has exerted pressure on TCS shares, impacting the overall trading environment.
III. Technical Analysis
The technical analysis of TCS shares reveals a strong downtrend. The Simple Moving Averages (SMA) indicate the following:
| Period | SMA Value |
|---|---|
| 5-Day | 4083.39 |
| 10-Day | 4130.24 |
| 20-Day | 4200.54 |
| 50-Day | 4347.01 |
| 100-Day | 4187.36 |
| 300-Day | 4057.91 |
The current resistance levels for TCS are at ₹4081.67, ₹4117.83, and ₹4156.67, with crucial support levels set at ₹4006.67, ₹3967.83, and ₹3931.67.
IV. Fundamental Analysis
From a fundamental perspective, several key metrics outline TCS’s financial health:
| Metric | Value |
|---|---|
| Return on Equity (ROE) | 50.75% |
| Price-to-Earnings (P/E) Ratio | 31.08 |
| Price-to-Book (P/B) Ratio | 14.50 |
The 1-year forecast for TCS shares anticipates an upside of 12.47%, with a target price projected at ₹4553.00.
V. Shareholding Pattern
The current shareholding pattern of TCS reveals key insights:
| Category | Holding Percentage |
|---|---|
| Promoter Holding | 0.00% |
| Mutual Fund (MF) Holding | 5.96% |
| Foreign Institutional Investor (FII) Holding | 12.66% |
There has been a notable decrease in mutual fund holdings from 6.13% in the previous quarter, whereas FII holdings have increased from 12.35%.
VI. Market Comparison
When compared to its peers in the IT sector, TCS shares are facing significant pressure. While TCS slipped slightly, companies like Infosys, HCL Technologies, LTI Mindtree, and Tech Mahindra exhibited mixed performances, highlighting the various market realities faced by IT firms.
VII. Conclusion
In summary, TCS currently navigates a challenging market landscape, reflected in its recent stock performance. Investors are advised to carefully consider these dynamics, particularly in light of overall market conditions and the company’s robust financial health indicators. The continued monitoring of TCS’s share movements will be crucial for understanding its future trajectory in the rapidly evolving IT sector.
VIII. FAQ
Q: What factors are influencing TCS’s current stock performance?
A: TCS’s stock performance is influenced by broader market trends, fluctuating demand in the IT sector, and internal financial metrics.
Q: How do technical indicators forecast TCS’s future performance?
A: Technical indicators suggest a downtrend, with key resistance and support levels highlighting potential price movements.
Q: What is the outlook for TCS shares over the next year?
A: Analysts predict a potential upside of 12.47% within the next year, with a target price of ₹4553.00.
