TCS Acquires Darshita Southern India Happy Homes for ₹2,250 Crore
TCS has signed a ₹2,250 crore deal to acquire Darshita Southern India Happy Homes Pvt Ltd to develop a new delivery center. The real estate firm, incorporated in 2004, has not generated revenue in the past three years as its property is still under development. The acquisition will be a cash transaction, with TCS holding a call option to complete it after two years.
In Q3, TCS reported ₹63,973 crore in revenue, down 0.4% sequentially, missing the ₹64,333 crore estimate. In US Dollar terms, revenue stood at $7,539 million, a 1.7% decline, below the expected $7,626 million. Constant currency growth was flat, impacted by furloughs and lower contribution from the BSNL deal, versus the 0.2% growth projected by analysts.
Technically, TCS is currently in a strong downtrend on both daily and weekly charts, with the price at ₹3,511.60, down 1.78% today and 2.69% for the week. The stock has broken key support levels, with the next major supports at ₹3,387.85 and ₹2,918.10, while resistance levels stand at ₹3,578.05 and ₹3,978.45. It is trading well below its 100-day and 70-day EMAs, reinforcing bearish momentum.
The RSI on the daily chart is at 26.92, indicating oversold conditions, while the weekly RSI is at 32.70, suggesting continued weakness. Although a short-term bounce could occur due to oversold conditions, the overall trend remains bearish unless the price reclaims ₹3,978.45.
I have attached the daily chart of
