TCS drops amid volatility

TCS lost 0.07% to Rs 2,421.50 at 11:27 IST on BSE, with the stock sliding amid volatility after the company announced that it has secured a contract from air carrier Vistara to provide a broad range of IT services.

The announcement was made during market hours today, 22 April 2016.

Meanwhile, the S&P BSE Sensex was down 25.23 points or 0.1% at 25,855.15.

On BSE, so far 33,000 shares were traded in the counter as against average daily volume of 82,160 shares in the past one quarter. The stock was volatile. The stock rose as much as 0.48% at the day's high of Rs 2,435 so far during the day. The stock lost as much as 0.75% at the day's low of Rs 2,404.95 so far during the day. The stock had hit a 52-week high of Rs 2,769 on 5 October 2015. The stock had hit a 52-week low of Rs 2,119 on 29 February 2016. The stock had underperformed the market over the past one month till 21 April 2016, sliding 0.84% compared with Sensex's 2.35% rise. The scrip had, however, outperformed the market in past one quarter, advancing 7.16% as against Sensex's 8% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 1.

As per the agreement, TCS will provide a broad range of IT services in the area of IT management, application maintenance and application development to help Vistara achieve its goal in customer experience, operational excellence as well as cost leadership.

TCS' consolidated net profit rose 5% to Rs 6413.12 crore on 4% growth in sales to Rs 28448.61 crore in Q4 March 2016 over Q3 December 2015.

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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