TCS cancels press conference for second-quarter results after Ratan Tata's passing

Tata Consultancy Services (TCS) has officially canceled its press conference planned for today to announce its second-quarter results for the financial year 2024-25. This announcement comes in light of the passing of Ratan Tata, the distinguished chairman emeritus of the Tata Group, who passed away late Wednesday night at a Mumbai hospital. The press conference was scheduled to begin at 5:30 PM today but will no longer take place, as it coincides with the timing of Tata's last rites, which are set for after 4 PM at Worli in central Mumbai.

Despite the cancellation of the press conference, TCS officials have confirmed that a scheduled call with analysts will proceed at 7 PM. This call is crucial for providing stakeholders with insights into the company's financial performance during the July-September quarter, following the Board of Directors' meeting. The cancellation reflects the company's respect for Ratan Tata's legacy and the significance of this moment for the Tata Group.

Earlier, TCS had announced in an exchange filing on September 30 that its Board of Directors would meet today to consider declaring a second interim dividend for equity shareholders. The company has set October 18 as both the ex-date and record date for the dividend. TCS has a history of strong dividend payouts, which enhances its appeal to investors.

As a major component of the BSE Sensex, TCS has shown robust performance in the stock market. Shares have gained 9.11% in the past three months and 7.11% over the last six months. On a year-to-date basis, TCS shares are up 11.95%, and over the past year, the company has recorded a 17.54% increase in share value.