TCS inks 7-year deal to transform Denmark-based Ramboll's IT infrastructure
New Delhi: 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, in the IT services major through block deals. TCS shares tumbled 3.30 per cent to a low of Rs4,015.65 apiece on the NSE. On the BSE, the stock plunged 3.15 per cent to Rs4,014 per piece, emerging a major drag on 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. Following the fall in TCS share value, the market valuation of India’s leading software company eroded Rs45,497.45 crore to Rs14,54,109.37 crore on the BSE.
