TCS Shares Turn Volatile As Chief Executive Officer Rajesh Gopinathan Quits

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Shares of TCS declined 0.79% to Rs 3,159.9 apiece as of 10:01 a.m., compared with a 0.39% rise in the benchmark Nifty 50. The stock had moved between a high of Rs 3,195 and a low of Rs 3,144 so far today, versus Rs 3,185 at yesterday’s close.

The total traded volume stood at 5.4 times its 30-day average. The relative strength index was at 29.8, implying that the stock may be oversold.

Out of the 49 analysts tracking the company, 22 maintain a ‘buy’ rating, 15 recommend a ‘hold’ and 12 suggest a ‘sell’ on the stock, according to Bloomberg. The 12-month consensus price target implies an upside of 10.2%.