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TCS Shares Decline On Reports Tata Sons To Seek Its Help For Settling AGR Dues
Shares of Tata Consultancy Services Ltd. were trading in the red in Wednesday's trade on reports that Tata Sons may seek the help of TCS in clearing off adjusted gross revenue (AGR) dues. The company is arranging funds to meet up the dues of as much as Rs. 13823 crore owed by Tata Teleservices as per an Economic Times report.
The Supreme Court is expected to hear the plea of Bharti Airtel, Vodafone Idea and Tata Teleservices this week for the extension in payment of AGR dues.
Shares of TCS were last quoting down by 0.79% or Rs. 17.15 at Rs. 2167, while it reached an intra-day low of Rs. 2160.65.
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