Top five IT firms lose over Rs 45,000 in m-cap after TCS issues profit warning
Reacting to the news, TCS shares tanked over 6 per cent, taking a hit of over Rs 27,000 crore in market capitalisation (m-cap).
BT Online New Delhi Last Updated: September 8, 2016 | 16:08 IST
The stock of country's largest software services firm TCS hit a 6-month low, dragging other IT stocks, after the management on Thursday said the company may face sequential loss of momentum in the coming quarters.
Reacting to the news, TCS shares tanked over 6 per cent intraday, taking a hit of over Rs 27,000 crore in market capitalisation (m-cap). At the closing price, the m-cap of the most valued stock on BSE stood at Rs 4,57,365 crore compared with Rs 4,82,164 crore in the Wednesday's session.
Other IT stocks such as Infosys, HCL Tech, Wipro and Tech Mahindra also slumped up to 5 per cent on the BSE. BSE IT index was the top sectoral loser in today's session.