New Delhi, Tata Consultancy (TCS) stock fell 2.51 per cent in Friday morning trade after the stock failed to show enthusiasm over its June quarter results.
The heavyweight stock on the list is trading 2.43 per cent lower at Rs 3,300.
On the NOC, it was down 2.51 per cent at Rs 3,297.
Other IT stocks also remained under selling pressure, with shares of Infosys, Tech Mahindra, HCL Tech and Wipro seeing negative word of mouth.
In the stock market, the 30-stock index closed 352.91 per cent lower at 82,837.37 and the 50-stock index closed 91.45 per cent lower at 25,263.30.
Prashant Tapase, Senior Vice President (Research), Equities Ltd, said, “The first quarter quarterly report of VITTA 2026 beat market expectations with a 6 per cent profit growth, although subdued demand due to geopolitical uncertainties limited the enthusiasm.”
The country’s largest IT services company TCR on Thursday reported a 6 per cent rise in June quarter net profit to Rs 12,760 crore, driven by growth in non-core income, while revenue grew marginally.
Revenue during the quarter rose 1.3 per cent in rupee terms but to Rs 63,437 crore, declining over 3 per cent on a constant currency basis, as the company faced backlash from its key investors amid the conclusion of the BSNL deal, which had helped it in recent quarters.
The company, which is the first major company to report its April-June performance, saw other income rise to Rs 1,660 crore from Rs 962 crore in the previous year, with the company paying a one-time salary earlier, which helped the company’s profitability.
Its managing director and chief executive officer K Krithivasan said the company is experiencing “demand subdued” due to announcements on the macroeconomic and geopolitical fronts, and also said he does not expect revenue growth in the long run in FY26.
VK Vijayakumar, chief investment strategist at Geojit Investments Ltd, said, “TTP’s first quarter results indicate the continuing struggle for IT giants, especially largecap IT companies. However, midcap IT companies are likely to do well.”
