TCS shares marginally decline in morning trade

Shares of Tata Consultancy Services marginally declined in the morning trade on Friday, a day after the IT major announced that its chief Rajesh Gopinathan has put in his papers. The broader market was in the positive territory, with Sensex jumping 246 points amid positive global cues.

Gopinathan, who has been at the helm of the country’s largest software exporter for six years, has resigned as MD and CEO, nearly four years ahead of the completion of his tenure. He will be replaced by company veteran K Krithivasan. The announcement was made by the company after market hours on Thursday.

On the BSE, the scrip opened at Rs 3,151 after it had closed at Rs 3,184.75 on Thursday. After touching an intra-day high of Rs 3,194, the stock was down 0.62 per cent to Rs 3,165.

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The market valuation of TCS, a key constituent of Sensex, stood at Rs 11,58,419.07 crore on the BSE. On the NSE, the company was down 0.47 per cent to Rs 3,169.90. It had opened at Rs 3,150.50 after ending the day at Rs 3,185 on Thursday.