TCS Share Price: How the company lost 43 thousand crores in 15 minutes

By Anupreet Kaur On Apr 13, 2021

TCS Share Price. Although the results of Tata Consultancy Services, the largest IT company in the country, have been very good, but today TCS Share Price is seeing a decline of more than 4%. Due to which the company has lost 43 thousand crores in 15 minutes of business. Due to which the market cap of the company has come down to Rs. 12 lakh crores. On the other hand, on Monday, the foreign markets have also closed on the red mark, which also has a clear effect in the company’s shares. By the way, Indian stock market is trading fast. Both indexes are seen trading on the green mark.

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The results are great
Talking about TCS quarterly results, it has been very good. The company saw a 5% increase in dollar revenue in the fourth quarter. The company has seen the highest margin in the last 22 quarters. The company’s order book is at its peak with $ 920 million. The result also calls for a dividend of Rs 15 per share for shareholders. In the fourth quarter, TCS’s BFSI business grew 7 per cent sequentially, 4 per cent in retail and CPG. Similarly, the company’s life science business grew by 3.8 percent on a quarterly basis and 3.9 percent in the manufacturing business.

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Shares of the company fell nearly 4 percent
If we talk about the decline in the shares of the company, at present it is trading 3.31 per cent at Rs 3124.40, at 9.40 am. Whereas the stock of the company opened at Rs 3230 today and reached the day’s low with Rs 3100.05. However, the company’s stock closed at Rs 3241.45 yesterday. That is, since yesterday, the company’s stock has gone down by Rs 140.

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43,000 crore rupees drop in market cap
There is a big drop in the company’s market cap today. In just 15 minutes of business, the company’s market cap has suffered a loss of more than 43 thousand crores. In fact, when the market was closed yesterday, the company market cap was more than Rs 12 lakh crore, which came to Rs 11.56 lakh crore at 9:30 am. In such a situation, the company lost 43 thousand crores in the market.