$TCS share price tumbles 8% in sharp single-day decline; Here's why

TCS Share Price: The stock of Tata Consultancy Services slumped 9% to lead the ⁠losses, while Bengaluru-based Infosys and Wipro dropped 4.3% and 3.7%, respectively. TCS shares tumbled to an intraday low of Rs 2,224.80 on the NSE. The Tata stock had last witnessed a decline of more than 9% on March 12, 2020. The losses mark a sharp reversal from the ‌sub-index's 7% gains seen over the last two sessions when ⁠investors bought beaten down IT stocks and bet that increasing AI spending could boost demand for IT services.