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( 13 Mar 2018)
TCS plummets over 5% as promoter offload stake

Shares of Tata Consultancy Services plunged over 5 per cent on the Bombay Stock Exchange after the promoter Tata Sons sold nearly 1.5 per cent stake in the IT bellwether through block deals.

Weighed down by the development, stocks of the company declined as much 5.46 per cent and touched an intra-day low of Rs 2885.20 apiece on the Bombay Stock Exchange.

In a similar fashion, shares of the firm were trading 5.00 per cent lower at Rs 2,899.65 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 33,998.55, up 80.61 points, or 0.24 per cent, at 11:40 hours.