TCS shares climb over 3%

New Delhi: Shares of TCS on Friday climbed over 3 per cent after the country’s largest IT services player reported 8.7 per cent growth in the June quarter net profit at Rs 12,040 crore.The stock went up by 3.10 per cent to Rs 4,044.35 on the BSE. At the NSE, it rallied 3 per cent to Rs 4,044.90. The company’s market valuation jumped Rs 40,359.77 crore to Rs 14,59,626.96 crore in morning deals.

The stock emerged as the biggest gainer among the Sensex pack. “The positive domestic cue is the better-than-expected numbers from TCS and positive management commentary which can lift most IT stocks,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. In the equity market, the 30-share BSE Sensex climbed 226.11 points to 80,123.45 in early trade.