TCS shares tank over 3 pc after Tata Sons divests 0.65 pc stake

NEW DELHI: Shares of Tata Consultancy Services (TCS) plunged more than 3 per cent in the morning trade on Tuesday as its promoter Tata Sons sold around 2.3 crore shares, or 0.65 per cent of equity stake, in the IT services major through block deals.

TCS shares tumbled 3.30 per cent to a low of Rs 4,015.65 apiece on the NSE. On the BSE, the stock plunged 3.15 per cent to Rs 4,014 per piece, emerging a major drag on the benchmark Sensex.

According to exchange data, more than 2.53 crore shares traded on the BSE in morning deals against the two-week average of around 1 lakh.