Tata Consultancy Services set to kick off earnings season, shares fall

Tata Consultancy Services (TCS), the country's largest IT firm, is scheduled to announce its financial results for the first quarter of the current financial on Friday.

Tata Consultancy Services (TCS), the country's largest IT firm, is scheduled to announce its financial results for the first quarter of the current financial on Friday. This will kick off the earnings season as TCS is the first major company to announce financial results.

At the stock exchanges, Tata Consultancy Services shares witnessed volatility ahead of the announcement of the earnings. TCS started the day in the positive at Rs 3297 against its previous day's close at Rs 3286.95. The scrip soared past Rs 3300 mark in the morning trade. However, it came under selling pressure in the afternoon session falling to a low of Rs 3270.05.

On the BSE, Tata Consultancy Services was trading at Rs 3274.10 at 12.44 pm, which is Rs 12.85 or 0.39 per cent lower from its previous day's close. TCS was trading in the red despite rise in benchmark indices. The 30 stock S&P BSE Sensex was trading 250.98 points or 0.46 per cent higher at 54,429.44 points.

The broader Nifty 50 of the National Stock Exchange was trading 68.20 points or 0.42 per cent higher at 16,201.10 points against its previous day's close at 16,132.90 points. (ANI)