TCS Stock Check: Up 15% in the last 1 year, is it a good time to buy the IT major?

livemint.com:

Tata Consultancy Services (TCS) was also a part of this recovery. The stock has gained almost 15 percent in the last 1 year and 9 percent in 2023 YTD. In comparison, the Nifty IT index has gained over 16 percent in the last 1 year and over 12 percent in 2023 YTD.

In the 10 months of the current calendar year so far, the stock has given positive returns in 7 months and negative in 3. It is up around a percent in October extending gains after a 5 percent rise in September. Before this, it shed around 2 percent in August.

Meanwhile, the stock was also in the green for 4 straight months between April and July. Before that, it lost consecutively in March and February. It also rose over 5 percent in January.

The stock also hit its 52-week high of ₹3,680 earlier this month on October 9, 2023. Currently trading at ₹3,610, the stock has already advanced over 18 percent from its 52-week low of ₹3,053.30, hit on October 13, 2022. According to a MintGenie poll of 42 analysts, 7 have ‘strong buy’, 15 have 'buy' and 12 have ‘hold recommendations on the stock. Meanwhile, 6 have 'sell' and 2 also have 'strong sell' calls on the IT major. TCS kickstarted the September earnings season yesterday reporting a 9 percent rise in its net profit at ₹11,342 crore compared to ₹10,431 crore in the corresponding period last year.

Sequentially, the net profit was muted, up just 0.5 percent. Profit of the firm beat Street expectations in Q2. Meanwhile, its revenue from operations rose 7.9 percent to ₹59,692 crore, compared to ₹55,309 crore in the corresponding period last year.