Sensex, Nifty Open Lower; IT Stocks Tumble As TCS Disappoints

RTTNews | 4h 31min ago
Sensex, Nifty Open Lower; IT Stocks Tumble As TCS Disappoints

(RTTNews) - Indian shares opened lower on Friday as U.S. President Donald Trump pushed through with his tariff agenda, fueling uncertainties around the global tariff war.

Weak Q1 results from TCS, India's largest software services exporter, also dampened investor sentiment.

Tata Consultancy Services fell 2.3 percent after it reported a 3.3 percent quarter-on-quarter decline in constant currency revenue, missing Street expectations. Peers Infosys, HCL Technologies and Wipro dropped 1-2 percent.

Tata Elxsi lost 3.8 percent after turning in yet another weak quarter.

IREDA slumped 4.6 percent as it reported a sharp deterioration in its asset quality.

Zee Entertainment Enterprises declined 2.6 percent after shareholders rejected a fundraising plan.

Hindustan Unilever jumped 5 percent. The FMCG giant announced that Priya Nair, currently heading Beauty & Wellbeing at Unilever, will take over as CEO and MD from August 1.

Anand Rathi Wealth surged 4.7 percent on reporting a 28 percent jump in Q1 net profit.

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