TCS share price falls 2% from all-time high ahead of Q1 FY19 results

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Published: July 9, 2018 4:02:02 PM

India's largest IT company and Tata group's cash cow Tata Consultancy Services will be the first companies among the Nifty constituents to come up with the first quarter report card for the fiscal year 2019.

The stock of TCS surged 0.87% to an all-time high of Rs 1,930 on BSE today. (Image: Reuters)

TCS share price dropped 2% on Monday from the all-time high level touched achieved earlier this morning ahead of the Q1 results 2019 due later tomorrow, 10 July 2018. India’s largest IT company and Tata group’s cash cow Tata Consultancy Services will be the first companies among the Nifty constituents to come up with the first quarter report card for the fiscal year 2019. Shares of IT bellwether TCS hit fresh all-time high after opening marginally higher in the opening bell today.

The stock of TCS surged 0.87% to an all-time high of Rs 1,930 on BSE today. Later in the day, TCS stock extended losses and tanked 2.49% to day’s bottom of Rs 1,882 from the all-time high of Rs 1,930. Finally, TCS shares concluded down 1.34% at Rs 1,887.65 on BSE. TCS shares have emerged as the best performers among all the components of the BSE Sensex index in CY 2018.

Shares of TCS have emerged as the biggest contributors in fuelling up the Sensex rally and have returned 40% to Rs 1,887.65 from a share price level of Rs 1,350.2 in this year so far. TCS is by far the most valued company listed on Indian bourses and presently commands a market capitalisation of Rs 7.22 lakh crore on BSE.

Earlier in April-June quarter, TCS became India’s first IT company with a market capitalisation of more than $100 billion dollars and the first Indian company to achieve the $100 billion after RIL. Further, TCS became the first Indian company to reach a market capitalisation of Rs 7 lakh crore after posting announcing Q4 results FY18. While announcing the Q4 results, TCS declared a dividend of Rs 29 per equity share and bonus issue in ratio 1:1.

 

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