Tata Sons sells 1.5% stake in TCS; stock falls 6%

The stock dipped 6% to Rs 2,872 on the National Stock Exchange after the promoter Tata Sons sold around 1.5% stake in information technology (IT) major through block deals

Tata Consultancy Services (TCS) dipped 6% to Rs 2,872 on the National Stock Exchange (NSE) after the promoter Tata Sons sold around 1.5% stake in information technology (IT) major through block deals.

Till 09:27 am; a combined 34.74 million equity shares representing 1.8% holding of TCS have changed hands on the NSE and BSE. The counter recorded a combined turnover of Rs 100-billion so far, the exchanges data shows.

As of December 31, 2017, Tata Sons held 73.52% stake in TCS, the shareholding pattern data shows.

Tata Sons is selling TCS shares in a price range of