TCS Stock Dips 2% After 2.2 Crore Share Sale

19 Mar 2024 , 02:11 PM

On March 19, 2.02 crore shares, or 0.6% of the stock, changed hands at an average price of ₹4,043 a share, causing shares of Tata Consultancy Services (TCS) to drop by more than 2%.

Most likely, the seller is Tata Sons, which has made an offer to sell 2.34 crore shares in the largest IT services company in India.

The floor price is lower than the closing price of ₹4,144.25 by 2.6%. According to data, five bunches of 2.02 crore TCS shares were traded.

TCS is the second most valuable listed corporation in India, with a market capitalization of ₹15 lakh crore. As of December 31, 2023, promoters owned 72.41% of the company. Tata Sons owned 72.38% of this, with Tata Investment Corporation owning the remaining portion.

For feedback and suggestions, write to us at [e-mail]