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    TCS   INE467B01029

TATA CONSULTANCY SERVICES LTD.

(TCS)
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Indian shares fall 1% as surging coronavirus cases spook investors

03/25/2021 | 12:32am EDT

BENGALURU, March 25 (Reuters) - Indian shares fell sharply for a second straight session on Thursday, led by losses in financial and technology companies, on concerns over the possibility of fresh restrictions to curb the spread of coronavirus cases.

The blue-chip NSE Nifty 50 index and the benchmark S&P BSE Sensex fell 1% to 14,405 and 48,675.66, respectively, as of 0507 GMT. The indexes had dropped nearly 2% in the previous session.

India's daily COVID-19 cases hit a five-month high on Thursday and the country put a temporary hold on all major exports of the AstraZeneca coronavirus shot made by the Serum Institute of India to meet domestic demand.

"The market is definitely worried about the impact of the spread of COVID-19. There would be an economic impact and there are fears over a partial lockdown," KK Mittal, an investment adviser at Venus India.

Analysts also expect huge volatility in markets ahead of the monthly expiry of derivatives.

India's Nifty bank index fell 1.3% and the public sector bank index dropped 2.4%.

Selling in the Nifty bank index, which has fallen more than 5% this month, has been a major pain point for domestic markets despite a major relief to the sector this week after India's top court rejected pleas for extending moratorium on bank loan repayments, analysts said.

The Nifty information technology index fell 1.3%.

Only six stocks traded in the positive territory in the bluechip Nifty 50 index, with heavyweights Reliance Industries and Tata Consultancy Services weighing the most, falling 1% each.

Shares of speciality chemicals maker Laxmi Organic Industries surged nearly 19% in its market debut in Mumbai, while those of engineering company Craftsman Automation dropped 8.8%.

(Reporting by Nallur Sethuraman in Bengaluru; Editing by Amy Caren Daniel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASTRAZENECA PLC -0.48% 8236 Delayed Quote.12.68%
RELIANCE INDUSTRIES LTD -0.65% 2041 Delayed Quote.4.61%
SENSEX 30 -0.52% 52578.76 Real-time Quote.10.11%
TATA CONSULTANCY SERVICES LTD. -0.75% 3157 Delayed Quote.11.70%
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Financials
Sales 2022 1 907 B 25 623 M 25 623 M
Net income 2022 394 B 5 290 M 5 290 M
Net cash 2022 431 B 5 785 M 5 785 M
P/E ratio 2022 30,0x
Yield 2022 2,36%
Capitalization 11 774 B 158 B 158 B
EV / Sales 2022 5,95x
EV / Sales 2023 5,26x
Nbr of Employees 488 649
Free-Float 27,8%
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Tata Consultancy Services Ltd. Technical Analysis Chart | TCS | INE467B01029 | MarketScreener
Technical analysis trends TATA CONSULTANCY SERVICES LTD.
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Mean consensus OUTPERFORM
Number of Analysts 37
Last Close Price 3 182,95 INR
Average target price 3 485,69 INR
Spread / Average Target 9,51%
EPS Revisions
Managers and Directors
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
Samir Seksaria Chief Financial Officer
Natarajan Chandrasekaran Non-Executive Chairman
K. Ananth Krishnan Chief Technology Officer
N. Ganapathy Subramaniam COO & Non-Independent Executive Director
Sector and Competitors
1st jan.Capi. (M$)
TATA CONSULTANCY SERVICES LTD.11.70%159 080
ACCENTURE PLC22.46%202 277
INTERNATIONAL BUSINESS MACHINES CORPORATION13.40%127 568
INFOSYS LIMITED27.72%91 502
AUTOMATIC DATA PROCESSING, INC.17.07%87 772
SNOWFLAKE INC.-4.48%79 599