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TCS Jumps, Infosys Slides Post Results
Investors reacted to the results of India's biggest IT companies in very contrasting fashion. While TCS shares jumped almost 3 per cent, after posting a good set of numbers on Friday, Infosys dived nearly 4 per cent, post results.
The markets were disappointed by the latter's numbers, particularly worries over margin contraction.
Tata Consultancy Services reported a net profit of Rs 8,126 crore for the quarter ended March 31, 2019, beating analysts' estimates. A strong performance in its banking, financial services and insurance (BSFI) segment boosted the profitability of the country's largest IT services exporter in the March quarter.
While Infosys too reported a good set of numbers that beat expectations, investors were worried over margin contraction.
TCS shares were last traded at Rs 2062, while Infosys shares were last trading at Rs 727 on the NSE.
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