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TCS disappoints markets. Stock down 4%

TCS earnings

Markets seem to have been disappointed by the results of the IT giant TCS which had reported its earnings for the December quarter. The stock has been hit hard and is trading in the red with 4.2% cuts at 2250.
TCS had reported an operating margin of 29.4 % for the Q3.

Markets have been dragged by the TCS stock. The CNX Nifty is struggling hard to maintain the 6300 level. The Nifty is down by 12 points at 6306. The Sensex is down by 62 points at 21200.

Stocks of Coal India, has seen a cut of over 9%, as the stock has gone ex-dividend today. The stock had rallied much after the news flow that the company is paying a hefty dividend for its investors.

Wipro is also down in the trade today. The stock is down by 2% at 559.85.

The HDFC twins – HDFC and the HDFC Bank are down by 1.8% each.

Axis Bank has continued to slide down with 1% cut at 1163.

BPCL is the top gainer on the index. The stock is up by 3% at 340.20. Other stocks that are in the green include Tata Power, Jindal steel, Cipla and Ambuja Cements.



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