TCS to pay damages to EPIC Systems Corporation

In the EPIC Systems Corporation matter, the United States Supreme Court on November 20, 2023 rejected Tata Consultancy Services Limited's petition to file an appeal against the orders passed by the US Court of Appeals, 7th Circuit, which confirmed the punitive damages award of USD 140 million passed by the District Court of Wisconsin.

The Company intends to make the balance provision of approximately USD 125 million in its financial statements as an exceptional item, for the third quarter and nine months ending December 31, 2023.

Shares of Tata Consultancy Services Limited was last trading in BSE at Rs. 3519.30 as compared to the previous close of Rs. 3502.65. The total number of shares traded during the day was 80442 in over 10863 trades.

The stock hit an intraday high of Rs. 3533.10 and intraday low of 3493.00. The net turnover during the day was Rs. 283000457.00.

Source : Equity Bulls

Keywords

TataConsultancyServices INE467B01029 TCS Damages EPICSystemsCorporation