Meanwhile, the S&P BSE Sensex was down 490.82 points or 1.75% at 27,591.52.
On BSE, so far 2.65 lakh shares were traded in the counter as against average daily volume of 1.16 lakh shares in the past one quarter. The stock hit a high of Rs 2,367.85 and a low of Rs 2,323.25 so far during the day. The stock had hit a 52-week low of Rs 2,119 on 29 February 2016. The stock had hit a 52-week high of Rs 2,740 on 16 August 2016. The stock had outperformed the market over the past one month till 10 October 2016, gaining 1.17% compared with 2.48% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, sliding 1.87% as against Sensex's 3.52% rise.
The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 1.
Media reports suggested that TCS is likely to report 0.2% drop in consolidated net profit in Q2 September 2016 on sequential basis. Analysts expect the company to post 1.47% growth in revenue in Q2 September 2016 over Q1 June 2016. Dollar revenue is expected to increase 1.78% quarter-on-quarter (QoQ) in Q2 September 2016. The slowdown in North American financial services sector is likely to hurt TCS' growth in coming quarters, reports suggested.
It may be recalled that TCS had earlier warned of a slowdown in discretionary spending in banking, financial services and insurance (BFSI) vertical by its US clients. Based on data at the end of August 2016, the company had characterized customer outlook as one marked by abundant caution, with some holding back of discretionary spending - particularly in the BFSI vertical in the United States - resulting in a sequential loss of momentum, TCS had said in its earnings update issued on 7 September 2016.
TCS' consolidated net profit fell 0.45% to Rs 6318 crore on 3% rise in net sales to Rs 29305 crore in Q1 June 2016 over Q4 March 2016.
TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.
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