Tata Sons is selling stake in TCS
[ad_1]
TCS Share Price: A big news has come out regarding Tata Consultancy Services, a Tata Group company, which is among the oldest industrial houses of the country. Tata Sons is selling more than two crore shares of TCS. As soon as the market opens, stocks are being sold through block deals. Floor price has been set for this. Let us tell you that Tata Consultancy is a big company in the IT sector. The market cap of the company is Rs 14.54 lakh crore. Its parent company is Tata Sons. It holds 72.38 percent share of the company.
Company trying to raise Rs 9300 crore
Tata Sons has prepared a plan to sell 2.34 crore shares of Tata Consultancy Services through block deal. According to the information given by the stock market, the company has set the floor price for the block deal at Rs 4001. If seen in this manner, the company can get a profit of Rs 9300 crore from this. At the same time, according to Bloomberg report, Tata Sons is to be listed on the exchange under the new rules of the Reserve Bank of India. This block deal will help the company to avoid listing in the stock exchange. As per RBI rules, all big NBFCs will have to be listed on the stock exchange. Tata Sons falls in this category.
Also Read: Tata Steel took a big step, stopped the operation of coke oven here
How is the stock performing today?
The share price of Tata Consultancy Services has fallen on the second trading day of the week. Earlier on Monday, the stock had hit upper circuit. During trading, the company’s stock price reached an all-time high level of Rs 4254.45. At the same time, at 12.15 pm today, the company’s share price fell by 3.24 percent i.e. Rs 134.50 and was trading at Rs 4,018. The company’s stock has given a negative return of 4.70 percent to investors in the last five days. At the same time, investors have suffered a loss of 2.09 percent in one month. However, on six month basis the company’s stock has given a return of 11.42 percent. Whereas, on annual basis the company’s stock has given a return of 27.83 percent. A year ago, on March 20, 2023, the company’s stock price was Rs 3143.30.
[ad_2]
Source link
