TCS’ net profit for the third quarter, at Rs 12,380 crore, was up 11.9 per cent over Rs 11,058 crore in the same quarter of FY24.
In Q3FY24 TCS had a one-time settlement of legal claims of Rs 958 crore. Taking this into consideration, net profit growth year-on-year (Y-o-Y) was 5.5 per cent.
Revenue grew 5.6 per cent at Rs 63,973 crore in the quarter concerned. Sequentially it was down 0.4 per cent. In dollars, revenue was down 1.7 per cent and went up 3.6 per cent Y-o-Y.
TCS Q3 net profit jumps 12% to Rs 12380 cr and revenue grows 5.6% at Rs 63973 crore- Daily Market Update 10th Jan 2025
Overview and Outlook
Global Stock Market Today
- US markets were closed on Thursday to mourn the death of former President Jimmy Carter.
- Barring DAX, other European equity markets settled higher.
- Majority of Asian equity markets are trading lower.
- GIFT Nifty is down by 70 points, Nifty futures likely to open around 23580 levels.
Nifty Overview & Outlook
Benchmark Nifty index settled lower at 23526 levels after a cut of 162 points from its previous closing values.
Broader markets underperformed the benchmark as Mid and Small cap indices fell 0.93% & 1.35% respectively.
All sectoral indices, barring FMCG, ended in red. Nifty Realty was the worst performer, fell 2.73% followed by Oil & Gas, PSU Bank and IT index that were down in range 1% to 2%. On the flip side, FMCG index provided some needed to the bulls as it gained nearly 1%.
Technically, Nifty index is trading in lower highs – lower lows formation close to its price support of 23400-23250 levels. Going ahead, cross and sustenance below the said levels might take it towards 22800 and lower levels in near term. Hence, we suggest traders to maintain sell on rise trading approach till it is trading below 24200 levels on closing basis.
Derivatives Overview & Outlook
Yesterday, all F&O indices witnessed the addition of short positions. Amongst them, Nifty, Banknifty, Finnifty and Midcapnifty added around 6.7%, 5.7%, 9.1% and 4.4% of open interest respectively.
Majority of F&O sectors settled lower. Amongst them, Banking and Power index witnessed maximum addition of short positions along with some long unwinding among Cement, Realty and Technology stocks. Some long buildup was seen among Chemicals and Textile stocks.
On option front, Nifty will start the new weekly contract of January series with maximum position at 24500 CE while the maximum put position is at 22500 PE.
Institutional Trading Activity
Yesterday, FIIs sold stocks worth Rs 7171 Cr in the cash segment, sold stocks futures worth Rs 3453 Cr also sold index futures worth Rs 2187 Cr. DIIs were net buyers in the cash segment to the tune of Rs 7640 Cr during the week
Nifty Futures, Banknifty Futures and Finnifty Key Levels
Nifty – Resistances 23800-23900; Supports 23600-23500
Banknifty – Resistances 50000-50200; Supports 49400-49200
Finnifty – Resistances 23280- 23350; Supports 23050-22980
F&O Security in Ban Today: BANDHANBNK, HINDCOPPER, LTF, MANAPPURAM, RBLBANK.
Important Results Today : CESC, JUSTDIAL & PCBL.
Disclosure
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