Global brokerage firm UBS raised the target price on Tata Consultancy Services (TCS), the largest Indian IT services company, to ₹4,700 per share from the earlier target price of ₹4,050 per share.
In late morning trade, the stock dived 1.62 per cent to Rs 3,551.25 apiece on the NSE. On the BSE, TCS shares declined by 1.6 per cent to Rs 3,552.60 per piece, emerging as the biggest loser among Sensex shares.
The tech giant has seen a massive drop in hiring in the first quarter of the fiscal year 2024. A total of 523 new employees were added to the company during the first quarter of FY24, as against 821 in the previous quarter., Companies News, Times Now