TCS share price rises 2%

TCS share price rises 2%

Tata Consultancy Services (TCS) share price rose nearly 2 percent in the early trade on January 8 ahead of its third-quarter result which is expected today.

The country's largest IT services exporter is expected to report strong revenue growth of more than 2.5 percent in constant currency quarter-on-quarter (QoQ) and over 3 percent growth QoQ in dollar revenue led by large deal wins in Q3 FY21.

Although margin may get impacted by wage revision. Kotak Institutional Equities believes that the total contract value (TCV) of deals will be robust aided by large deals announced with Deutsche Bank (460 million euro) and Prudential ($300 million).