TCS disappoints ....

TCS dropped nearly eleven percent on Tuesday, the highest loss in terms of percentage since it began trading. Disappointing fourth quarter results lead to this.

Financial results can be found here. The profits dropped six percent on a quarter on quarter basis. Profits showed a small increase of four percent on a yearly basis.

TCS earns more than fifty percent of its revenue from North American clients, difficult conditions and an appreciating rupee puts a strain on the margins. TCS still earns more than 44 percent of its revenue from services provided to the Banking and the Financial Industry.

TCS lead a crash of the technology stocks on the BSE sensex with the BSE IT index losing 4 percent; the broader markets posted a gain of a mere 44 points. Infy dropped more than 2.5 percent, HCL systems lost 4.5 percent, Wipro lost more than 4 percent, Tech Mahindra lost more than 4 percent. I own at least a few stocks of each of these companies. After the Infy results, my portfolio suddenly started to look a lot better after the IT stocks started to pick up. Now they have again gone southwards.