TCS surges, Infosys declines as markets react to results

Business

oi-Sunil

By Sunil Fernandes

Updated: Friday, July 13, 2012, 9:41 [IST]

Shares of India's largest IT company, Tata Consultancy Services (TCS) surged in trade today, following a spectacular performance for the Q1 2012-13. The company shares were trading up more than 2%.

Infosys which belied expectations with lacklustre set of numbers and muted revenue guidance saw its share price continuing to drop in trade today.

Shares of Infosys were down almost 1% on the Bombay Stock Exchange.

India's two largest IT companies both declared their results on Thursday, while Infosys declared its results in early morning on Thursday, the markets had time to react to the numbers on Thursday itself, which saw the stock plunging more that 9%.

TCS on the other hand declared its results after markets hours and hence saw fresh buying only on Friday morning after reporting a good set of numbers.

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