TCS shares down nearly 3% ahead of Q1 earnings

Shares of IT major TCS fell by nearly 3 per cent today ahead of its first quarter earnings.
The bellwether stock went down by 2.80 per cent to settle at Rs 2,521.40 on BSE. In intra-day, shares of the IT firm lost 3.4 per cent to Rs 2.505.75.
At the NSE, the stock slipped 2.79 per cent to Rs 2,522.50.
Following the dip in the stock, the company's market valuation plunged Rs 14,229.33 crore to Rs 4,93,873.67 crore.
"Q1 is a seasonally strong quarter. This time around, cross-currency stabilisation and INR depreciation are additional tailwinds to earnings," Motilal Oswal Securities said in a report.

Meanwhile, in the stock market, the BSE 30-share Sensex ended at 27,573.66, down 114.06 points.