TCS Q2 Results Live: Tata Consultancy Services will kickstart the second quarter earnings season for the information technology (IT) sector on Wednesday, but analysts don’t anticipate any major fireworks, as the underlying demand environment remains challenging globally.
Although the September quarter has been seasonally strong for Indian software exporters, analysts stated this time Q2 earnings are likely to show a continuation of weak demand with macro uncertainty prolonging.
TCS Q2 Results live updates: IT giant Tata Consultancy Services is all set to kick off the earnings season for the second quarter of FY24. TCS is also likely to announce its fifth share buyback in six years, rewarding investors with the increasing cash in its reserves.
Following a board meeting to consider its Q2 results, TCS said the board has approved a proposal to buyback 4.09 crore shares for an aggregate amount not exceeding Rs 17,000 crore, representing 1.12% of the total paid-up equity share capital of the company.