TCS Share Price Update and Market Overview
On October 10, at 11:00 AM, TCS shares are trading at ₹4266.05, marking a 0.32% increase from the previous closing price. The Sensex is currently at ₹81794.68, reflecting an uptick of 0.4%. Throughout the day, TCS has experienced a high of ₹4290.2 and a low of ₹4248.05, illustrating a relatively stable trading range.
Technical Analysis
From a technical standpoint, TCS is performing above its 5, 100, and 300-day Simple Moving Averages (SMA), while it remains below the 10, 20, and 50-day SMA. This trend indicates a potential bullish sentiment in the longer term, with established support at the lower SMAs and resistance levels at the higher ones.
To further elaborate, the SMA values for TCS are essential indicators that market participants watch closely. These values help to identify overall trends and potential entry or exit points for investors.
Pivot Level Analysis
Analyzing the classic pivot levels on a daily time frame reveals significant resistance levels at ₹4281.07, ₹4312.18, and ₹4329.37. Meanwhile, TCS’s key support levels are positioned at ₹4232.77, ₹4215.58, and ₹4184.47. These pivot points serve as critical benchmarks that traders use to navigate potential price fluctuations.
Volume and Market Sentiment
As of 11 AM today, trading volume for TCS on the NSE and BSE is down by 70.21% compared to the previous trading session. Volume is a crucial factor alongside share price when analyzing market trends. A positive price movement accompanied by higher trading volume typically signals a strong upward trend, while a price decline with high volume may indicate further drops.
Overall Market Performance
Current Mint technical analysis indicates that TCS is experiencing a robust bullish trend, signaling positive investor sentiment and potential growth opportunities.
Fundamental Analysis
From a fundamental analysis perspective, TCS boasts an impressive Return on Equity (ROE) of 50.75%. The stock’s Price-to-Earnings (P/E) ratio stands at 32.99, and the Price-to-Book (P/B) ratio is at 16.69, which suggests that the stock is potentially overvalued in comparison to its peers.
Future Projections
The median one-year forecast suggests an upside potential of 5.69%, with a target price of ₹4509.00, presenting an attractive opportunity for investors considering TCS’s growth trajectory.
Shareholding Patterns
As reported for the June quarter, TCS has a promoter holding of 71.77%, a Mutual Fund (MF) holding of 6.13%, and Foreign Institutional Investor (FII) holding at 12.35%. These figures indicate a strong confidence from major stakeholders in the company’s future.
The mutual fund holdings showed a slight increase from 5.98% in March to 6.13% in the June quarter, suggesting heightened interest from institutional investors.
Conversely, FII holdings have decreased from 12.70% in March to 12.35% in the June quarter, indicating a cautious approach from foreign investors as they navigate market conditions.
Comparison with Peers
TCS shares have risen by 0.32% today, trading at ₹4266.05, amidst a mixed performance from its peers. Notably, LTI Mindtree and Tech Mahindra are experiencing declines, while Oracle Financial Services Software and Persistent Systems see upticks. Overall, benchmark indices Nifty and Sensex are up by 0.29% and 0.4% respectively, showcasing a generally positive market sentiment.
