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TCS SHARES DIP 3% AS TATA SONS DIVESTS STAKE
The Business Guardian
|March 20, 2024
Shares of Tata Consultancy Services (TCS) plunged more than 3 per cent in the morning trade on Tuesday as its promoter Tata Sons sold around 2.3 crore shares, or 0.65 per cent of equity stake
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Tata Consultancy Services (TCS) witnessed a more than 3 percent decline in morning trading on Tuesday, attributed to its promoter Tata Sons' sale of approximately 2.3 crore shares, constituting 0.65 percent of the IT services giant's equity stake, via block deals. TCS shares fell by 3.30 percent to reach Rs 4,015.65 apiece on the NSE and declined by 3.15 percent to Rs 4,014 each on the BSE. This downturn significantly impacted the benchmark Sensex.
According to exchange data, more than 2.53 crore shares traded on the BSE in morning deals against the two-week average of around 1 lakh.
Market experts said the decline in TCS share price is mainly due to the Tata Sons stake sale.
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