TCS Shares Tank Over 6% After Second Quarter Earnings

TCS inventory plunged to an intraday low of Rs 3,660.

New Delhi: Shares of Tata Consultancy Services (TCS) plunged greater than 6% in early commerce on Monday after the corporate's second quarter (Q2) outcomes for the present monetary yr 2021-22 (FY22). The inventory dropped to an intraday low of Rs 3,660.

As of the ten:41 am, TCS shares had been buying and selling 5.52% or Rs 217.35 decrease at Rs 3,717.95. On the NSE platform, the inventory was 5.58% or Rs 219.75 down at Rs 3,715.90.

TCS market capitalization (m-cap) fell to Rs 13,72,126 crore from Rs 14,55,687 crore as on Friday.

The nation's largest data know-how exporter is the primary amongst friends to report earnings for the second quarter.

The Mumbai-based firm's consolidated web revenue rose to Rs 9,624 crore ($1.28 billion) within the three months to September 30, from Rs 7,475 crore a yr earlier.

Consolidated income from operations jumped to Rs 46,867 crore.

The firm additionally reappointed Rajesh Gopinathan as its chief govt officer and managing director for 5 years.

TCS additionally introduced an interim dividend of Rs 7 per share with a report date set as October 19, 2021.

The IT companies main's attrition price stood at 11.9% for the second quarter.

The firm has added 19,690 folks (web), taking its headcount to five,28,748 folks on the finish of September 2021.

Meanwhile, each the BSE and NSE indexes had been buying and selling in inexperienced.