TCS
TCS crashes 7% after massive rally—what spooked investors?
Mumbai/IBNS: Shares of Tata Consultancy Services (TCS) plunged more than 7 percent on Wednesday, reversing gains made during the previous two trading sessions.
The stock was trading at Rs 2,271, down over 7 percent from its previous closing price.
Profit Booking After Sharp Rally
The decline comes after TCS shares had gained more than 6 percent over the last two sessions, prompting investors to book profits.
Global IT Weakness Weighs On Sector
The sharp fall also coincided with a pullback in global software stocks, which negatively impacted sentiment across the information technology sector.
Nifty IT Sees Correction
The Nifty IT index had rallied nearly 8 percent in just two days before witnessing a correction on Wednesday as investors locked in recent gains.
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