Stock to buy before Q4 results 2024: TCS share price on cusp of breakout. Should you buy?
Stock to buy before Q4 results 2024: Shares of Tata Consultancy Services (TCS) witnessed sharp selling after Tata Sons stake sale news hit the headlines in mid-March 2024. However, TCS share price witnessed strong buying at lower levels ₹3840 to ₹3850 per share. After ending at ₹3,840 apiece on NSE on 27th March 2024, TCS share price has been ascending after every small profit-booking.
TCS share price today touched an intraday high of ₹4,025.95 per share on NSE, logging a nearly 5 percent upside from the lows made after Tata Sons induced selling last month. According to stock market experts, TCS share price is on the cusp of giving a fresh breakout at ₹4,030 apiece level. On breaching this hurdle on a closing basis, TCS share price may go up to ₹4,300 per share level in the short term.
They said that the market is expecting mid-single digit growth for the company's revenue, EBITDA, and PAT in Q4 results 2024. They said that TCS shares are best placed for a medium to long-term investor as the Indian IT company's deal win growth in the recently ended quarter has gone up. On the kind of TCS Q4 results 2024 that the market is expecting, Dhruv Mudaraddi, Research Analyst at StoxBox said, "We expect TCS to report mid-single digit growth in revenues, EBIT and PAT for Q4FY24.
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