Ad

India’s IT Tycoon “TCS” Shares Dropped 5%

[Mumbai] India’s IT Tycoon TCS Shares Dropped 5%
Shares of Tata Consultancy Services (TCS) fell by 5.22 per cent to Rs 2,892.45 following reports that its promoter Tata Sons is planning to raise around Rs 8,200 crore by selling stake in the IT major.
The benchmark BSE Sensex gave up its early gains to close lower by 61.16 points at 33,856.78 today mainly due to profit booking in the last hour of the trade after recent gains.
The broader NSE Nifty managed to end higher for the second day at 10,426.85, up by 5.45 points or 0.05 per cent after shuttling between 10,478.60 and 10,377.85, intra-day.
Shares of Tata Consultancy Services (TCS) fell by 5.22 per cent to Rs 2,892.45 following reports that its promoter Tata Sons is planning to raise around Rs 8,200 crore by selling stake in the IT major.
Sustained selling by domestic institutional investors (DIIs) put pressure on select counters led by IT and teck stocks.
Despite, better-than-estimated consumer price inflation eased traders fears of near-term interest rate hikes by the Reserve Bank of India (RBI).
Photo
Ratan Tata