IT stocks drag Sensex, Nifty; TCS drops 3% on weak Q1 results

IT stocks drag Sensex, Nifty; TCS drops 3% on weak Q1 results
By , ETMarkets.com
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Synopsis

TCS' June quarter numbers were a miss on margin, profit and dollar revenue growth, even as the management commentary suggested demand visibility for FY23 remains intact. A few analysts have cut FY23 and FY24 earnings estimates for TCS by 1-4 per cent and suggested a price target for the stock in a wide range of Rs 3,200-5,000.

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