<p>New Delhi: Shares of Tata Consultancy Services (TCS) jumped nearly 6 per cent on Friday after the IT services firm reported an 11.95 per cent jump in December quarter net profit to Rs 12,380 crore.</p>.<p>The bellwether stock surged 5.67 per cent to close at Rs 4,265.55 apiece on the BSE. During the day, it rallied 6.44 per cent to Rs 4,296.80.</p>.<p>On the NSE, it climbed 5.59 per cent to Rs 4,265 per share.</p>.<p>The company's market valuation soared Rs 82,818.03 crore to Rs 15,43,313.32 crore.</p>.Industrial output grows 5.2% in November.<p>TCS emerged as the biggest gainer among the Sensex and Nifty stocks in an otherwise weak equity market trend.</p>.<p>Other IT stocks were also in demand, with Tech Mahindra, Infosys, HCL Tech and Wipro ending in positive territory.</p>.<p>The BSE IT index climbed 2.65 per cent.</p>.<p>In a volatile trade, the 30-share BSE benchmark Sensex declined 241.30 points or 0.31 per cent to settle at 77,378.91. The NSE Nifty dropped 95 points or 0.40 per cent to 23,431.50.</p>.<p>"Results of TCS indicate that the IT sector will continue to remain resilient," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.</p>.<p>The Tata Group company had reported a net profit of Rs 11,058 crore in the year-ago period and Rs 11,909 crore in the preceding September quarter.</p>.<p>The company's revenue grew 5.6 per cent to Rs 63,973 crore against Rs 60,583 crore in the year-ago period. However, it was down from Rs 64,259 crore in the September quarter.</p>.<p>New order bookings stood at $10.2 billion against $7.9 billion in the year-ago, in what is generally called a seasonally challenging quarter due to the holiday season.</p>.<p>Its Chief Executive K Krithivasan said the macro factors afflicting the IT sector continued even in the reporting quarter but added that the new orders were across industries, geographies and service lines, which lends a "good visibility to long-term growth".</p>.<p>There are also early signs of a revival in discretionary spending, which have been elusive for a better part of the fiscal and are among the factors leading to the softer revenue growth of 4.6 per cent in the first nine months.</p>.<p>Krithivasan said discretionary spending is likely to increase from now and added that the calendar year 2025 will be better than 2024.</p>
<p>New Delhi: Shares of Tata Consultancy Services (TCS) jumped nearly 6 per cent on Friday after the IT services firm reported an 11.95 per cent jump in December quarter net profit to Rs 12,380 crore.</p>.<p>The bellwether stock surged 5.67 per cent to close at Rs 4,265.55 apiece on the BSE. During the day, it rallied 6.44 per cent to Rs 4,296.80.</p>.<p>On the NSE, it climbed 5.59 per cent to Rs 4,265 per share.</p>.<p>The company's market valuation soared Rs 82,818.03 crore to Rs 15,43,313.32 crore.</p>.Industrial output grows 5.2% in November.<p>TCS emerged as the biggest gainer among the Sensex and Nifty stocks in an otherwise weak equity market trend.</p>.<p>Other IT stocks were also in demand, with Tech Mahindra, Infosys, HCL Tech and Wipro ending in positive territory.</p>.<p>The BSE IT index climbed 2.65 per cent.</p>.<p>In a volatile trade, the 30-share BSE benchmark Sensex declined 241.30 points or 0.31 per cent to settle at 77,378.91. The NSE Nifty dropped 95 points or 0.40 per cent to 23,431.50.</p>.<p>"Results of TCS indicate that the IT sector will continue to remain resilient," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.</p>.<p>The Tata Group company had reported a net profit of Rs 11,058 crore in the year-ago period and Rs 11,909 crore in the preceding September quarter.</p>.<p>The company's revenue grew 5.6 per cent to Rs 63,973 crore against Rs 60,583 crore in the year-ago period. However, it was down from Rs 64,259 crore in the September quarter.</p>.<p>New order bookings stood at $10.2 billion against $7.9 billion in the year-ago, in what is generally called a seasonally challenging quarter due to the holiday season.</p>.<p>Its Chief Executive K Krithivasan said the macro factors afflicting the IT sector continued even in the reporting quarter but added that the new orders were across industries, geographies and service lines, which lends a "good visibility to long-term growth".</p>.<p>There are also early signs of a revival in discretionary spending, which have been elusive for a better part of the fiscal and are among the factors leading to the softer revenue growth of 4.6 per cent in the first nine months.</p>.<p>Krithivasan said discretionary spending is likely to increase from now and added that the calendar year 2025 will be better than 2024.</p>