Gopinathan's resignation will not hurt TCS much; add stock on dips: Experts

Analysts say the stock price could turn volatile in the near-term as the development comes amid a challenging macro-environment including fears of a potential recession in the US

Shares of Tata Consultancy Services (TCS) hit a four month low of Rs 3,145 per share in the intra-day trade on Friday as investors digested an unexpected change of guard at the information technology major.

The company’s managing director (MD) and chief executive officer (CEO), Rajesh Gopinathan, on Thursday stepped down, dragging the stock of the Mumbai-based company to its lowest level since October 27, 2022. It, eventually, settled at Rs 3,179 (down 0.18 per cent), as against 0.67 per cent gain in the Nifty50 index, and 1.2 per cent in the Nifty IT index. 

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