TCS shed 1.1% to Rs 2577.30 at 12:31 IST on BSE after the firm's CFO Rajesh Gopinathan reportedly said that the IT major remains cautious on the Indian IT services market saying it is waiting for more broad-based confidence to come back.
Meanwhile, the S&P BSE Sensex was down 175.95 points or 0.66% at 26,885.09.
On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 72,811 shares in the past quarter.
The stock was volatile. The stock lost as much as 1.14% at the day's low of Rs 2,576 so far during the day. The stock rose as much as 0.34% at the day's high of Rs 2,614.80 so far during the day. The stock had hit a record high of Rs 2,667 on 9 September 2014. The stock had hit a 52-week low of Rs 1895.10 on 16 September 2013.
The stock had outperformed the market over the past one month till 12 September 2014, advancing 5.34% compared with the Sensex's 4.56% rise. The scrip had also outperformed the market in past one quarter, jumping 16.74% as against Sensex's 5.81% rise.
The large-cap company has equity capital of Rs 195.87 crore. Face value per share is Re 1.
TCS chief financial officer (CFO) Rajesh Gopinathan was quoted as saying that despite rising revenues from India, the IT services major remains cautious on the Indian IT services market as it is waiting for more broad-based confidence to come back.
TCS reported 3.9% growth in consolidated net profit to Rs 5568 crore on 2.6% growth in revenue to Rs 22111 crore in Q1 June 2014 over Q4 March 2014.
TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 300,000 of the world's best-trained consultants in 46 countries.
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