<p>New Delhi: Shares of Tata Consultancy Services (TCS) dropped 2.51 per cent on Friday morning trade after its June quarter earnings failed to enthuse investors.</p><p>The bellwether stock declined 2.43 per cent to Rs 3,300 on the BSE.</p><p>At the NSE, it went lower by 2.51 per cent to Rs 3,297.</p><p>Other IT stocks too faced selling pressure, with Infosys, Tech Mahindra, HCL Tech and Wipro quoting in the negative territory.</p><p>In the equity market, the 30-share BSE Sensex traded 352.91 points lower at 82,837.37, and the 50-share NSE Nifty quoted 91.45 points down at 25,263.30.</p>.Markets wilt under selling pressure; Sensex drops 345 points on weakness in IT stocks.<p>"TCS Q1 FY26 results beat street expectations with a 6 per cent profit rise, though demand contraction due to geopolitical uncertainties capped excitement," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.</p><p>The country's largest IT services company TCS on Thursday reported a 6 per cent growth in June quarter net profit at Rs 12,760 crore, helped by a jump in non-core income even as revenues grew at a tepid pace.</p><p>The rupee revenue grew 1.3 per cent to Rs 63,437 crore during the quarter, but was down by over 3 per cent on a constant currency basis, as the company faced headwinds in its major markets amid a winding down of the BSNL deal which helped it in recent quarters.</p><p>The other income for the company, which is the first major player to report the April-June performance, jumped to Rs 1,660 crore from Rs 962 crore last year, courtesy an one-time write-back of income tax paid earlier, which helped the company's bottomline.</p><p>Its managing director and chief executive K Krithivasan said it is experiencing a "demand contraction" due to the continuing uncertainties on the macroeconomic and geopolitical fronts, and added that he does not see a double-digit revenue growth in FY26.</p><p>"Q1 results of TCS indicate continuing struggle for IT companies, particularly large cap IT. However, midcap IT is likely to do well," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.</p>
<p>New Delhi: Shares of Tata Consultancy Services (TCS) dropped 2.51 per cent on Friday morning trade after its June quarter earnings failed to enthuse investors.</p><p>The bellwether stock declined 2.43 per cent to Rs 3,300 on the BSE.</p><p>At the NSE, it went lower by 2.51 per cent to Rs 3,297.</p><p>Other IT stocks too faced selling pressure, with Infosys, Tech Mahindra, HCL Tech and Wipro quoting in the negative territory.</p><p>In the equity market, the 30-share BSE Sensex traded 352.91 points lower at 82,837.37, and the 50-share NSE Nifty quoted 91.45 points down at 25,263.30.</p>.Markets wilt under selling pressure; Sensex drops 345 points on weakness in IT stocks.<p>"TCS Q1 FY26 results beat street expectations with a 6 per cent profit rise, though demand contraction due to geopolitical uncertainties capped excitement," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.</p><p>The country's largest IT services company TCS on Thursday reported a 6 per cent growth in June quarter net profit at Rs 12,760 crore, helped by a jump in non-core income even as revenues grew at a tepid pace.</p><p>The rupee revenue grew 1.3 per cent to Rs 63,437 crore during the quarter, but was down by over 3 per cent on a constant currency basis, as the company faced headwinds in its major markets amid a winding down of the BSNL deal which helped it in recent quarters.</p><p>The other income for the company, which is the first major player to report the April-June performance, jumped to Rs 1,660 crore from Rs 962 crore last year, courtesy an one-time write-back of income tax paid earlier, which helped the company's bottomline.</p><p>Its managing director and chief executive K Krithivasan said it is experiencing a "demand contraction" due to the continuing uncertainties on the macroeconomic and geopolitical fronts, and added that he does not see a double-digit revenue growth in FY26.</p><p>"Q1 results of TCS indicate continuing struggle for IT companies, particularly large cap IT. However, midcap IT is likely to do well," VK Vijayakumar, Chief Investment Strategist, Geojit Investments Ltd, said.</p>