The market capitalization of Tata Consultancy Services (TCS), the IT giant, has surpassed the 15 lakh crore mark for the first time. This milestone was driven by a recent surge in the company’s stock prices on February 6, 2024 during intra-day trade. The upswing in stocks is attributed to TCS’s announcement on Monday about securing a multi-year deal from Europ Assistance, a global assistance and travel insurance company.
In the third quarter of fiscal year 2024, TCS reported a quarter-on-quarter revenue growth to Rs 60,583 crore, compared to Rs 59,692 crore in Q2 FY24. However, the net profit slightly decreased to Rs. 11,097 crores from Rs. 11,380 in the preceding quarter.
As of today’s pre-opening, the market is expected to be up by around 0.5%, with TCS’s pre-open settlement at 4153, reflecting a 0.41% increase on the NSE. It is anticipated that this positive trend for TCS will continue to reach new heights. Do share your views and study on the stock/company.
Personally, I am inclined towards deploying a cash-secured put option strategy to capitalize on the premium until the stock is physically delivered. Subsequently, I plan to sell call options to either reduce the cost of acquisition or book profits on the stock.