Economic TimesLean R·
TCS slips 2%, down 12% in 4 days. What’s behind the drop?
Shares of TCS, India's largest IT services company, plunged 2% to an intraday low of Rs 2,144 on the BSE on Monday as a surge in U.S. bond yields reignited concerns that the Federal Reserve may be forced to raise interest rates later this year. With today's decline, the stock has lost 12% over the last four trading sessions.Higher U.S. bond yields and expectations of tighter monetary policy are generally seen as negative for Indian IT stocks. They tend to compress valuations of growth-oriented …
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