Stock Market Highlights: Nifty Sheds Rs 1.77 Lakh Crore In Market Cap As HDFC Bank, RIL, TCS Drag

TCS shares decline nearly 3.50 pc post earnings announcement; mkt valuation erodes by ₹42,295 cr

Source: Live Mint New Delhi, Jul 11 (PTI) Shares of Tata Consultancy Services (TCS) dropped nearly 3.50 per cent on Friday after its June quarter earnings failed to enthuse investors. The bellwether stock declined 3.46 per cent to settle at ₹3,265.40 apiece on the BSE. During the day, it dropped 3.57 per cent to ₹3,261.35. On the NSE, it went lower by 3.47 per cent to ₹3,264.50. The company’s market valuation eroded by ₹42,295.44 crore to ₹1…

TCS Share Price Falls 4% as Deal Pipeline Disappoints, ₹3,200 in Focus

Tata Consultancy Services (NSE: TCS) slipped 4% to ₹3,266 on Friday after the tech major’s Q1 results failed to ignite confidence on the Street. The numbers weren’t bad, but in this market, “not bad” just isn’t good enough. Net profit came in at ₹12,151 crore, up 8.6% YoY, while revenue rose 5.4% to ₹63,670 crore. Margins saw a modest uptick, but it was the tone of the management commentary, not the figures that triggered the selloff. Deal wins …

Stock Market Highlights: Nifty Sheds Rs 1.77 Lakh Crore In Market Cap As HDFC Bank, RIL, TCS Drag

The Indian benchmark equity indices continued to fall for the third straight session on Friday, dragged by share prices of HDFC Bank Ltd., Reliance Industries Ltd. and Tata Consultancy Services Ltd. The NSE Nifty 50 ended 205.4 points or 0.81% lower at 25,149.85, while the BSE Sensex closed 689.81 points, or 0.83% down at 82,500.47.