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TCS and Infosys drag Sensex by 51 points

  • The Sensex is trading at 27756.96, down by 92.60 points; Nifty, on the other hand is down by 31.85 points. The International markets ended lower as they reacted to the travel ban for Muslims to enter America for a period of three months, imposed by their newly christened President, Donald Trump.
    Meanwhile the stocks of TCS and Infosys have dragged the Sensex down by 51 points, with both the stocks trading low, triggered by pessimistic sentiments over Trump administration hinting that it will draft stringent measures on the new work visa.
    Major revenues of these two companies comes from the United States. The new visa order is aimed at hiring locals first and would be designed in the national interest of the world's superpower, that has in the past lost jobs to outsiders, who have been cost effective and better equipped as far as skills are concerned.Trump administration now threatens to deprive these top notch Indian IT companies of their revenue, and hence this downfall.

    Stock view:-

    Tata Consultancy Services Ltd is currently trading at Rs 2280.1, down by Rs 54.1 or 2.32% from its previous closing of Rs 2334.2 on the BSE.
    The scrip opened at Rs 2334 and has touched a high and low of Rs 2334 and Rs 2277.5 respectively. So far 262032(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 459937.29 crore.
    The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 2740 on 16-Aug-2016 and a 52 week low of Rs 2054.7 on 15-Nov-2016. Last one week high and low of the scrip stood at Rs 2377.3 and Rs 2294.5 respectively.
    The promoters holding in the company stood at 73.33 % while Institutions and Non-Institutions held 22.24 % and 4.44 % respectively.



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