TCS shares soared over 10 per cent in the morning trade today, following a 21.9 per cent rise in net profit at Rs 10,638.2 crore for 2011-12 and an upbeat outlook.
Cheering the numbers, the scrip shot up by 10.24 per cent to Rs 1,167.80 on the BSE. Similarly, on the National Stock Exchange, the stock gained 9.69 per cent to Rs 1,167.40.
In a sluggish market, where the BSE benchmark Sensex was trading slightly down at 17,089.06, TCS was the top performer among the blue-chip stocks.
On the volume front, 6.15 lakh shares were traded on the BSE, while over 35 lakh shares changed hands on the NSE.
After the disappointment with Infosys’ results, TCS continues to deliver on course with expectations, brokerage house Emkay Global Financial Services said in a report.
The company said it is on track to outperform the industry revenue growth of 11-14 per cent set by industry body Nasscom for 2012-13.
The country’s largest software exporter also became the first Indian IT company to cross the $10-billion milestone posting annual revenue of $10.17 billion in 2011-12.
Net profit for the fourth quarter of the last fiscal rose 22.6 per cent to Rs 2,932.4 crore on the back of a 30.5 per cent rise in revenues at Rs 13,259.3 crore.