TCS slips on turning ex-dividend

Stock down 2% in an other otherwise robust market

TCS declined 1.8% to Rs 2,067 as the stock turned ex-dividend today, 6 June 2014 for final dividend of Rs 20 per share for the year ended 31 March 2014 (FY 2014).

According to Salil Sharma, Technical Analyst, Partner, kapursharma.com, “The IT space is likely to underperform in the short term. An investor with atleast a 3-month horizon can look at contrarian buys in TCS and Tech Mahindra."

TCS opened at Rs 2,110 and had touched a low of Rs 2,062 till 1045 hrs. A total of over 3.5 lakh shares changed hands on the BSE and NSE counters.