US stock markets were closed on Thursday for a National Day of Mourning for former President Jimmy Carter.

Back home, Indian share markets are trading on a flat note.

After opening the day on a positive note, Indian share markets fell badly as the session progressed, only to recover most of the losses by afternoon trade.

At present, the BSE Sensex is trading higher by 81 points, while the NSE Nifty is trading around 23,520 levels, up by 7 points.

TCS, Tech Mahindra, and Infosys are among the top gainers today.

NTPC and IndusInd Bank, on the other hand, are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index fell 1% while the BSE Small Cap index declined 1.5%.

Sectoral indices are trading mixed with stocks in the pharma sector and power sector witnessing most of the selling.

IT stocks and tech stocks, on the other hand, are trading on a positive note with strong gains.

Shares of Indo Thai, Lloyds Metals, and Mehai Technology hit their 52-week high today.

The rupee is trading at Rs 85.87 against the US dollar.

In commodity markets, gold prices are trading at Rs 78,316 per 10 grams today.
 

Why TCS Share Price is Rising

In news from the IT space, shares of Tata Consultancy Services (TCS) rallied 5% today, following the IT giant's report of a 12% increase in its Q3 consolidated net profit.

The IT company reported its net profit at Rs 123.8 bn, up from Rs 110.6 bn reported a year earlier.

The company's revenue for the third quarter of FY25 grew by 5.6% YoY, driven by robust TCV performance, strong execution, and cost management.

The topline reached Rs 639.7 bn, compared to Rs 605.8 bn reported in the same quarter of the previous year.

The Tata group company also announced an interim dividend of Rs 10 per share and Rs 66 per share as special dividend to shareholders.

TCS is the flagship company and a part of Tata group. It's an IT services, consulting and business solutions organisation that has been partnering with many of the world's largest businesses.

Going forward, TCS is focusing on integrating GenAI into various service lines and business processes.

Despite experiencing challenges in the life sciences and healthcare sectors, as well as short-term pressures in manufacturing, TCS maintains a stable demand outlook.

Here's a table showing its long term performance -

TCS Snapshot (2020-24)

Data Source: Ace Equity
 

Quick Commerce: Just a Fad or Something Big in the Making?

Quick commerce listed firms like Zomato and Swiggy are feeling the pinch on the bourses these days.

Recently, Swiggy launched its Snaac app to deliver food in 15 minutes, matching peers Zepto and Blinkit.

The top two companies in this space - Zomato and Swiggy - have grown their businesses exponentially over the past two years.

Likewise, the stock market has rewarded them with rich valuations.

However, Zomato's share price has come under intense pressure these days.

The quick commerce segment, a critical part of Zomato's operations through Blinkit, is becoming increasingly competitive. New and existing players are aggressively expanding their footprint in this space, putting Zomato under pressure.

Industry experts note that the quick commerce market's rapid expansion has led to intense competition. Companies are engaging in heavy discounting and promotional strategies to attract customers, which could impact Zomato's profitability.

This environment is forcing Zomato to balance between maintaining its market share and safeguarding its financial health.

Looking ahead, Zomato aims to strengthen its balance sheet through a planned fundraise, which will help it navigate market challenges and pursue strategic opportunities.

While profitability remains a medium-term goal, Zomato is focusing on scaling its operations sustainably without compromising on quality or service levels.

Here's how the stock price has moved in the past 1 year -

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