TCS lowers outlook for Q2FY17; drags shares of top 4 IT cos
The company cautioned the investors on its business trends in the second quarter of this fiscal.
The shares of Tata Consultancy Services dipped nearly 6% on Thursday after the company announced the possible loss of momentum in Banking and Financial Services Solution (BFSI) in the US.
At 1303 hours, the shares of the company were trading at Rs 2309.55 per piece, down 5.62%, or Rs 137.45 on BSE.
Infosys was trading at Rs 1035.25 per piece, down 1.87%, or Rs 19.75.
Wipro was trading at Rs 473.25 per piece, down 1.85%, or Rs 8.90 on BSE.
HCL Tech was trading at Rs 771.15 per piece, down 2%, or Rs 15.75 on BSE.
Tech Mahindra were trading at Rs 460 per piece, down 2.38%, or Rs 11.20 on BSE.
Combined the loss of these top five IT companies, they have lost about Rs 40,000 crore of market capitalisation today, The Economic Times report said.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.