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The company is majorly owned by promoters and promoter group with 53.68% stake, while the rest lies with the public. Among the public shareholders in the company, retail investors hold nearly 37% stake.

The brokerage believes near-term outperformance would be restricted for TCS owing to uncertain earnings outlook, CEO transition and global macro headwinds.

A total of 3,642 shares changed hands on the counter till 11:38AM (IST)

The global brokerage firm analysed 72 CEO transitions over the last five years among large listed companies and found that in 53% of the cases, stock price trends did not change around CEO transition but external hires seem to have made a positive difference in stock price trends in many cases.

Consolidated revenues are expected to grow 13% YoY, led by 5% growth in freight and 10% in seaways segment (peak utilisation reached six ships) while SCM is expected to grow 25% (rebound in auto, low base effect).

Promoters held 62.4 per cent stake in the company as of 31-Dec-2022, while FII and DII ownership stood at 6.84 per cent and 0.54 per cent, respectively.

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.

Overnight data showed U.S. consumer prices barely rose in March. The annual 5% headline rise was the smallest since May 2021 and down from 9.1% last June. Core CPI, which strips out energy and food prices, remained sticky at an annual 5.6%.

FTX has benefited from a recent rise in crypto prices, Dietderich said. Its total recovery would be valued at $6.2 billion based on crypto prices from November 2022, when it filed for bankruptcy after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal.

The interim dividend will be paid to the shareholders of the company whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on the record date.