TCS shares fall over 1% after Q1 results

Shares of Tata Consultancy Services (TCS) on Wednesday fell by over 1 per cent after the company’s June quarter earnings failed to meet market expectations.

The scrip declined 1.11 per cent to close at Rs 2,107.70 on the BSE. During the day, it fell by 2.87 per cent to Rs 2,070.10. On the National Stock Exchange (NSE), shares dipped 1.31 per cent to close at Rs 2,105.30 apiece. In terms of traded volume, 2.65 lakh shares were traded on the BSE and over 63 lakh shares on the NSE during the day.

“TCS’ first quarter performance was a tad weaker than our/street estimates,” according to a report by Emkay Global Financial Services. The country’s largest software services firm on Tuesday reported a 10.8 per cent growth in consolidated net profit to Rs 8,131 crore for the quarter ended June 30.