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    TCS   INE467B01029

TATA CONSULTANCY SERVICES LTD.

(TCS)
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Indian shares fall nearly 2% as IT stocks weigh, Omicron fears loom

12/06/2021 | 05:42am EST
FILE PHOTO: A woman walks past the Bombay Stock Exchange building in Mumbai

BENGALURU, Dec 6 (Reuters) - Indian shares closed nearly 2% lower on Monday, hurt by a selloff in information technology (IT) stocks, as increasing cases of the Omicron coronavirus variant spooked investors ahead of the central bank's decision on interest rates.

The blue-chip NSE Nifty 50 index slipped below the 17,000 mark and was down 1.65% at 16,912.25, while the benchmark S&P BSE Sensex was 1.65% lower at 56,742.35 at the closing bell.

Both indexes posted their lowest close since Aug. 27.

Most major sub-indexes ended lower, with IT, auto and pharma stocks falling the most, as India's tally of reported cases of the heavily mutated Omicron coronavirus variant rose to 12 on Sunday.

"Ambiguity surrounding Omicron continued to dent the morale of domestic investors ahead of the important Reserve Bank of India (RBI) policy announcement on Wednesday," said Vinod Nair, head of research at Geojit Financial Services.

"The domestic market is expected to be volatile as the near-term will be dominated by developments on new variant and policy decisions."

The three-day monetary policy committee meeting of India's central bank starts on Monday and investors will watch out for commentary from the central bank on future rate hikes.

According to a Reuters poll of economists, the RBI will hold rates at its December meeting and hike its reverse repo rate early next year and increase repo rate the following quarter.

The Nifty IT index which is up about 44% for the year, fell nearly 3% and marked its worst day in nearly two months. Index heavyweights Tata Consultancy Services and Infosys Ltd fell 2.9% and 2.3%, respectively.

The Nifty realty index gave up early gains to close 1.4% lower, while the Nifty auto index slipped 1.8%.

(Reporting by Shivani Singh in Bengaluru; Editing by Subhranshu Sahu and Amy Caren Daniel)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
INFOSYS LIMITED -2.74% 1736.8 Delayed Quote.-5.41%
TATA CONSULTANCY SERVICES LTD. -1.62% 3771.35 Delayed Quote.2.55%
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Analyst Recommendations on TATA CONSULTANCY SERVICES LTD.
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Financials
Sales 2022 1 912 B 25 617 M 25 617 M
Net income 2022 386 B 5 172 M 5 172 M
Net cash 2022 385 B 5 154 M 5 154 M
P/E ratio 2022 36,2x
Yield 2022 1,41%
Capitalization 13 950 B 187 B 187 B
EV / Sales 2022 7,10x
EV / Sales 2023 6,22x
Nbr of Employees 488 649
Free-Float 27,8%
Chart TATA CONSULTANCY SERVICES LTD.
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Tata Consultancy Services Ltd. Technical Analysis Chart | TCS | INE467B01029 | MarketScreener
Technical analysis trends TATA CONSULTANCY SERVICES LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 40
Last Close Price 3 771,35 INR
Average target price 4 136,73 INR
Spread / Average Target 9,69%
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.2.55%190 800
ACCENTURE PLC-19.04%212 118
INTERNATIONAL BUSINESS MACHINES CORPORATION-3.22%116 001
INFOSYS LIMITED-5.41%100 701
AUTOMATIC DATA PROCESSING, INC.-11.94%91 495
SNOWFLAKE INC.-21.02%81 954