TCS Shares Slump Over 1% A Week Before Q1 Earnings

TCS Shares Slump Over 1% A Week Before Q1 Earnings

The company shares lost over 1 per cent of their value in the early hours of the day's trade. In fact in the first 15 minutes of the trade, the stock value slipped out of the Rs 4,000 mark.

Juviraj AnchilUpdated: Wednesday, July 03, 2024, 11:14 AM IST
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On a day when the indices are rallying in green, one of the largest tech companies in the country, the Tata Consultancy Services or TCS appears to be having a relatively low day data Dalal Street.

TCS Shares Loses Over 1%

The company shares lost over 1 per cent of their value in the early hours of the day's trade. In fact in the first 15 minutes of the trade, the stock value slipped out of the Rs 4,000 mark.

This comes after making steady progress over the past 5 trading sessions, having gained 3.47 per cent or 133.00.

It is interesting to note that Infosys shares were also down by 0.29 per cent, clocking at Rs 1,616.40 per share. Meanwhile, Wipro was trading in green. 

This comes at a pertinent juncture, as the IT-gaint recently announced its plans to publish information regarding its earnings for the first quarter of the Indian fiscal year.

This comes at a pertinent juncture, as the IT-gaint recently announced its plans to publish information regarding its earnings for the first quarter of the Indian fiscal year. | Image: Wikipedia (Representative)

This comes at a pertinent juncture, as the IT-gaint recently announced its plans to publish information regarding its earnings for the first quarter of the Indian fiscal year.

The Mumbai-based company said, that it will be filing its earnings for Q1, spanning from April-June, on July 11. We are ushering into another earnings season with these results.

Wipro, Infosys To Release Earnings

It is not just TCS that is set to release its results, its competitors from the IT industry, including Bengaluru-based companies, Wipro and Infosys are also expected to present their Q1 earnings next, thereby paving a way for a potentially eventful week at the markets.

When we take a look back at the company's Q4 results, released in April, the company, according to its exchange filing, accrued a net profit of Rs 12,240 crore, marking a 9 per cent rise in the numbers.

When we take a look back at the company's Q4 results, released in April, the company, according to its exchange filing, accrued a net profit of Rs 12,240 crore, marking a 9 per cent rise in the numbers. | TCS (Representative)

When we take a look back at the company's Q4 results, released in April, the company, according to its exchange filing, accrued a net profit of Rs 12,240 crore, marking a 9 per cent rise in the numbers.

However, the company's attrition rate stood at 12.5 per cent. The company also announced dividend of Rs 28 per share.

At 11:06 IST, the shares of TCS dropped a significant 1.47 per cent or Rs 59.00, dropping the overall value to Rs 3,958.40 per share.  

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