Tata Consultancy Services declared its Sep 2019 quarter result and here is the details. On a standalone basis TCS grew by 5% in sales and 13% in profit after tax – reasonable numbers for such a large company. But on consolidated basis it was not that great with sales up 5% and pat up only 1% – all percentage on an year-on-year basis.
Stock also reacted negatively to the result initially but managed to close at Rs1989 at the end of the day with just .77% loss.
TCS Stock’s one year performance also was not great with just gaining only 4% during last 52 weeks period.
In weekly chart also Macd about fall zero level and ADX negative trend is rising. So clearly a bearish trend is starting. So more downside expected especially if the volatility in the Indian indices continue.