Shares of Tata Consultancy Services (TCS) remained under pressure on Monday, May 25, even as benchmark indices traded sharply higher, after a block deal worth nearly Rs 118 crore was executed on the counter.
Around 508,282 shares of TCS changed hands at Rs 2,318.50 per share in the block deal window. The total transaction value stood at approximately Rs 117.85 crore.
Following the transaction, TCS shares were trading 0.64% lower at Rs 2,302.50 on the NSE, underperforming the broader market. During the session, the stock touched an intraday high of Rs 2,326.10 and a low of Rs 2,293.90.
At the same time, benchmark indices remained firm, with the Nifty 50 rising 0.96% to 23,947.40 and the Sensex gaining 1.03% to 76,195.86.
TCS currently commands a market capitalization of around Rs 8.34 lakh crore, while average traded volume on the counter stood near 3.75 million shares.
The block deal was executed marginally above the previous closing price of Rs 2,317.30. However, the stock continued to witness selling pressure during early trade amid broader weakness across select IT counters.
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