Tata Consultancy Services Stock Update: TCS Shares Plunge 7% Amid Profit Booking

Tata Consultancy Services (TCS) shares are experiencing a significant downturn in Wednesday's intraday trading, currently changing hands at INR 2,279.00. This marks a sharp decline of 6.86% from its previous close of INR 2,446.90. The IT bellwether opened lower at INR 2,393.00 today and has since remained under pressure, registering an intraday high of INR 2,393.00 and touching a low of INR 2,277.30. Volume on the counter is robust, with 4,715,992 shares traded so far, indicating strong selling interest dominating the session.

52-Week Context

Based on recent market reports, TCS's share price is currently trading closer to its 52-week low. The stock had a 52-week high of approximately INR 3,538.00 and a 52-week low around INR 2,206.40. Today's steep fall brings the stock perilously close to these annual lows, testing key support levels established over the past year. This contrasts sharply with yesterday's strong performance, where the stock had rebounded significantly from earlier dips.

Today's sharp decline appears to be largely driven by profit booking after a robust rally in the Indian IT sector, including TCS, during Tuesday's session. On June 2, TCS shares had surged by over 4-7% as part of a broader Nifty IT index rally, fueled by renewed optimism around global enterprise AI spending, positive commentary from US cloud software companies like Snowflake, and a weak Indian rupee boosting export earnings. Why Is Stock Market Down Today, June 3, 2026?

TCS itself had been in the spotlight yesterday due to strategic advancements in Artificial Intelligence, including a partnership with Mistral AI and securing new AI-led business transformation contracts, which had positioned the company as a key player in the evolving AI landscape. Bullish technical signals like a "White Marubozu" pattern and an "RSI Trending Up" had also emerged for TCS on Tuesday, suggesting strong buying momentum. Stocks To Buy or Sell Today, June 3, 2026: Adani Ports, Canara Bank and Concord Biotech Among Shares That May Remain in Focus on Wednesday.

However, today's session sees a reversal of this positive sentiment. While no specific negative corporate announcements from TCS have emerged to explain such a sharp intraday fall, the market is likely consolidating after the previous day's surge. It's noteworthy that the Nifty IT index's strong rally was approaching short-term overbought levels, according to some analyses. Adding to the broader context, TCS is scheduled to participate in the BofA India Conference today in Mumbai, as part of its ongoing analyst and institutional investor meetings for June 2026. While these events are typically for discussing strategy and outlook, pre-existing cautious views on Indian IT valuations from some brokerages, like BofA Securities earlier this month, may also be influencing investor sentiment today.

Investors will be closely watching for any statements from the BofA India Conference and how the broader IT sector performs for cues on whether the current selling pressure is merely a technical correction or a shift in underlying sentiment. The ability of the stock to hold above its 52-week low will be critical for the remainder of the trading session.

Disclaimer: The information provided in this article is based on news reports and is not intended as investment advice. Investing in stocks involves risk. LatestLY advises its readers to consult with a financial advisor before making any investment decisions.

(The above story first appeared on LatestLY on Jun 03, 2026 10:02 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).