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TCS shares tumbled 4.37% to Rs 3,971 on NSE, while it plunged 4.03% to Rs 3,977.55 on BSE.
IT majors were largely sceptical about the Centre's decision to extend the ‘work from home’ option in companies in Special Economic Zones for one more year.
Probe found that none of the company's key managerial personnel were involved, and this is not a fraud against the company, TCS said.
However, events like the fall of SVB and fears of a contagion have impacted client sentiments in North America and the banking, financial services and insurance sector in particular, leading to clients deferring spends, the Tata Group company said.
TCS CEO attributed the strong set of numbers in a seasonally weak quarter to the stellar performance of their cloud services and the continued business momentum in North America and England.
According to the latest report releasedby the Department of Homeland Security, the US approved 407,071 H-1B petitions in 2021 and 301,616 of them (74.1 per cent) were for Indian workers
An engineer by profession, Ankita has been running in TCS World 10K since 2013.
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