TCS slides as Q4 profit dip prompts analysts to cut target price

Shares of Tata Consultancy Services (TCS) declined after the information technology (IT) major reported a 1.3 per cent sequential drop in net profit for the March quarter, prompting several brokerages to cut their target prices.

The TCS stock fell as much as 1.26 per cent during the day to ₹3,205 per share.

The shares pared losses to close 0.47 per cent lower at ₹3,232 apiece, compared to a 1.92 per cent rise in the Nifty 50.