TCS To Enter F&O Segment As Well
Mumbai, Aug 24 | Updated: Aug 25 2004, 05:30am hrs
All eyes are now on the Tata Consultancy Services (TCS) stock, which makes its debut on the bourses on Wednesday. The TCS stock will also be introduced in the futures and options (F&O) segment the same day. On August, 25, 2004, Indias top IT services exporter will be listed on both The Stock Exchange, Mumbai (BSE) and the National Stock Exchange (NSE). As per the market expectations, the stock may be listed in the range of 1,050-1,150 per share, as against the cut-off price of Rs 850 per share. In early August, 2004, TCS concluded a record $1.17-billion IPO, which was subscribed 7.7 times. An analyst from a foreign brokerage said: The stock is likely to open at premium to the cut-off price of Rs 850 per share. A lot of institutional players have not got allotment, which is why there will be aggressive demand for the stock in the opening session on Wednesday.