Shares of Tata Consultancy Services (TCS) jumped nearly 5 per cent on Friday morning after the IT services company reported an 11.95 per cent jump in December quarter net profit to Rs 12,380 crore.
The bellwether stock surged 4.73 per cent to Rs 4,227.70 on the BSE.
At the NSE, it climbed 4.60 per cent to Rs 4,225.
The company’s market valuation soared Rs 69,829.1 crore to Rs 15,30,324.39 crore during the morning trade.
TCS emerged as the biggest gainer among the Sensex and Nifty stocks in an otherwise weak equity market trend.
Other IT stocks were also in demand, with Tech Mahindra, Infosys, HCL Tech and Wipro quoting in the positive territory.
“Results of TCS indicate that the IT sector will continue to remain resilient,” V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.