TCS shares fell over one per cent on Friday
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Shares of TCS closed at Rs 3,175.25, down 1.27 per cent on Friday. The fall resulted in a decline of Rs 15,002.11 crore in the market cap of the company. The company’s market cap was Rs 11,76,842 crore on Thursday, which stood at Rs 11,61,840 crore on Friday. TCS and
The deal between Transamerica Insurance was done in January 2018. With this, TCS was getting a revenue of at least $ 200 million annually. TCS CEO Rajesh Gopinathan had given his resignation even before the completion of his tenure. JP Morgan has set a March 2024 price target on TCS at Rs 2,700.
IT stocks under pressure
TCS is the second largest company in the country by market cap. Mukesh Ambani’s company Reliance Industries is at number one. Its market cap is Rs 1,742,477.95 crore. There is a danger of recession in many countries of America and Europe. Germany, Europe’s largest economy, is already in the grip of recession. Also, the banking sector in America is under constant pressure. Recently there have been many bank defaults. A lot of revenue of Indian IT companies comes from these countries. Given this, IT stocks have been under pressure for some time now.
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