TCS Share Price : There is a big fall in TCS shares today amid reports of Tata Sons raising more than $1 billion by selling a part of its stake in TCS. After this news, a selling trend has been seen in TCS shares. The stock opened with a decline today and fell by 3 percent to Rs 4,022 in early trade. According to stock market experts, today’s fall in TCS shares is mainly due to the stake sale by Tata Sons.
The effect will be short term
Experts say that the impact of the stake sale will be short term only, as this stake sale is 0.65 percent of the total paid up capital of the company. The sale of such a small stake will not have much impact on the financial condition of a giant company like TCS. Experts have advised medium to long term investors to take advantage of this opportunity, as the share price outlook of TCS looks quite promising.
Charts looking positive
If we look at the chart pattern, TCS share price looks positive. Important support of TCS shares is at the level of ₹ 3,950. On the upside, TCS share price is set to touch the figure of ₹ 4,250 and ₹ 4,400 per share in the near future.
Market cap is Rs 14.54 lakh crore
At 11 am on Tuesday, TCS shares were seen trading at Rs 4019, down 3.03 per cent or Rs 125.75. It opened today at Rs 4055.65. In early trade it reached a maximum of Rs 4055.70. At the same time, the minimum reached Rs 4012.80. The 52 week high of TCS share is Rs 4,254.45. Whereas, 52 week low level is Rs 3070.30. The market cap of the company was seen at Rs 14,54,832.99 crore on BSE.
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