Investors Rejoice As TCS & Infosys Shares Surge After Strong Q3 Results

It's been a good morning for IT sector investors, as both TCS and Infosys’ shares?have begun the trading session with a big jump. Investors have been rejoicing as the share prices of Infosys and?TCS?are surging after both IT giants announced strong Q3 results?for FY24 (Oct-Dec 2023 quarter).??

TCS & Infosys Shares Surge

tcs and infosys q3 results/indiatimes

TCS shares have already surged more than 4% this morning, whereas its rival Infosys' shares have soared more than 7% today. The big jump in both IT sector giants' stocks comes after they announced strong Q3 results on January 11th.

Investors are rejoicing as the strong?Q3 results?come despite the general trend that the third quarter is a weak one for Indian IT companies due to the holiday season in the US and Europe, which are their major clients, on account of furloughs and fewer working days.??

tcs share price surge after q3 results/web screengrab

infosys share price q3 results/web screengrab

Also Read:?TCS?Confirms Plan To Build Its Own ChatGPT Like AI Tool

TCS Q3 Results

tcs q3 results/fb/tcs

India's largest IT services company, Tata Consultancy Services (TCS),?reported its Q3 results on January 11?TCS'?net?profit of Rs 11,058 crore in the quarter ended December 31, 2023, up 2% from Rs 10,846 crore in the same quarter a year ago.??

TCS' net profit was down 2.5% on a sequential quarter basis.?Consolidated revenue rose 4% YoY to Rs 60,583 crore in the three months to December 31 from Rs 58,229 crore a year earlier, TCS said in an exchange filing.

Also Read:?List Of 7 People Who Have Served As?Infosys?CEOs

Infosys Q3 Results

infosys q3 results/shutterstock

Besides its rival TCS, India’s second-largest IT services company, Infosys, also announced its?Q3 results on January 11th. Infosys?reported a?7.3% year-on-year (YoY) fall in net profit at Rs?6,106 crore in the third quarter of FY24. Infosys managed to record consolidated revenue of Rs 38,821 crore for the quarter.??

Also Read:?The Untold Story Of?TCS' First?CEO?& Co-founder F. C. Kohli

Sensex & Nifty Today Jump Too

sensex nifty today/moneycontrol

With India's two largest IT sector companies' stocks surging since early morning, India's stock market indices, Sensex and Nifty50, are also on the rise today. Sensex?is up 0.87% at the 72348 mark (at the time of writing this report), whereas Nifty50?too is up more than 0.8% at the 21825 mark.??

Also Read:?Nifty v/s Sensex: How The Two?Stock Market?Indices Differ From Each Other

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