TCS share fell by 50rs today after Q3 results. According to TCS their growth from Q3 of 2022 to Q3 of 2023 is increasing even though the head counts are negative. TCS claims that they have hired 42000 new employees in the last two quarters so Hiring people and getting them to become productive takes time and that investment is now paying off. Also, they said that in the last quarter, they are going to do more work because now the employees are trained and thus they can do more work and thus it gonna benefits the company.
If we look at the 1-year chart of TCS we will see a downfall of the price by 17% but on the other hand, if we take a look over 5 years chart then it has grown tremendously so for the shareholders of TCS this year maybe not so Beneficial but TCS claims that they are gonna boom in the upcoming quarter and 2024.
About TCS
According to Wikipedia Tata Consultancy Services (TCS) are an Indian multinational information technology (IT) services and consulting company with its headquarters in Mumbai. It is a part of the Tata Group and operates in 150 locations across 46 countries. In July 2022, it was reported that TCS had over 600,000 employees worldwide. TCS is the second-largest Indian company by market capitalisation and is among the most valuable IT service brands worldwide. In 2015, TCS was ranked 64th overall in the Forbes “World’s Most Innovative Companies” ranking, making it one of the highest-ranked IT services companies and a top Indian company. As of 2018, it is ranked eleventh on the Fortune India 500 list. In September 2021, TCS recorded a market capitalisation of US$200 billion, making it the first Indian IT tech company to do so. In December 2022, the market cap was Rs. 11,71,481.89 crore.
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