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TCS corrected 4.8% ahead of Q2 FY 22 earnings, is it a good time to buy?

How Tata consultancy services limited (TCS) Share price performed ahead of its Q2 FY 2022 results

Tata Consultancy Services Limited (TCS) share prices have seen a correction of about 4.8% in a week before announcing their Q2 FY 2022 results which are scheduled for 8th October 2021. Is it a good time to buy such a blue-chip IT company?

IT stocks have not performed well in the last week of the September series ended on 1st October 2021. There has been huge volatility in the Stock market considering the US market and China market. Though Index has not performed well, we have seen a tremendous movement in specific stocks.

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After Accenture Plc has announced its strong results of Q4 2021 earning on 23rd September 2021, Positive sentiment arose across the globe in the IT sector.

Even though there has been news throughout the week, IT Index has fallen 5.21% this week.

The stock market will set a trend for the upcoming IT company’s shares Q2 results FY 2022 based on the TCS results.

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On Friday 1st October 2021, we have seen a bumper listing of Paras Defence and Space Technologies at Rs.475/- on BSE against its Issue price of Rs.175/-. Monopolistic businesses have seen a great response in the Stock market.

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TCS share price opens at Rs.3900/- on 27th September 2021 and it closes at Rs.3730.20 on 1st October 2021.   

On 30th September 2021, TCS has informed BSE Exchange that they have partnered with MCX to transform the Exchange business core systems and support future growth.

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On 29th September 2021, TCS Informed exchange about the launching of their first-ever combined Mass and virtual Event app: Virgin Money London marathon app and to help Apoteket Drive its digital transformation across sales channels and internal processes.

On 28th September 2021, TCS releases its MasterCraft TransformPlus, 5.0 users, ML to enhance their legacy application modernization.

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