Technoglitch
Core Member
TCS share price fell as much as 2.19 per cent in the early trade on Monday after the IT major on Friday (post market hours) said due to floods in Chennai the company may face ‘material impact’ which in turn will affect the current quarter revenues.
Chennai is one of the company’s largest delivery locations, with over 65,000 employees. In a release, the company said, “Other than mission critical activities, the normal business functioning of our facilities in the city had to be halted all week since December 1 due to extreme weather conditions and subsequent flooding.”
At 9.54 am, shares of Tata Consultancy Services (TCS) were down 1.16 per cent at Rs 2,359.60. The scrip opened at Rs 2344.90 and had touched a high and low of Rs 2,364.70 and Rs 2,335, respectively, in trade so far. Sensex was down 86.23 points, or 0.34 per cent, at 24958.20.
TCS share price falls over 2% after revenue warning due to Chennai rains | The Financial Express
Chennai is one of the company’s largest delivery locations, with over 65,000 employees. In a release, the company said, “Other than mission critical activities, the normal business functioning of our facilities in the city had to be halted all week since December 1 due to extreme weather conditions and subsequent flooding.”
At 9.54 am, shares of Tata Consultancy Services (TCS) were down 1.16 per cent at Rs 2,359.60. The scrip opened at Rs 2344.90 and had touched a high and low of Rs 2,364.70 and Rs 2,335, respectively, in trade so far. Sensex was down 86.23 points, or 0.34 per cent, at 24958.20.
TCS share price falls over 2% after revenue warning due to Chennai rains | The Financial Express