TeamLease Services plunges 18%, hits two-year low on margin concerns

The management said that the headwinds in the IT industry have started impacting the specialized staffing growth and may continue for a while

Shares of TeamLease Services plunged 18 per cent to hit a two-year low of Rs 2,331 on the BSE in Thursday’s intra-day trade due to margin concerns.

The stock was trading at its lowest level since November 2020. In the past one year, the market price of the company has halved as compared to a 0.24 per cent rise in the S&P BSE Sensex. The stock had hit a record high of Rs 5,544 in October 2021.

At 01:38 pm; TeamLease was trading 16 per cent lower at Rs 2,406 as compared to a 0.85 per cent decline