New Delhi, Aug. 8 -- Tata Consultancy Services (TCS), India's largest IT services company, has seen its stock price tumble to levels not witnessed in the recent past. Weak earnings in the June quarter and its plans to lay off 2% of its workforce, around 12,000 jobs in the ongoing fiscal have made it one of the worst-performing blue-chip stocks.

In fact, TCS shares have been on a downward trend since hitting an all-time high of Rs.4,592 apiece in August 2024, amid growth concerns in key markets such as the US and Europe, brought down by Donald Trump's sweeping tariffs on major trading partners.

The decline accelerated after the release of TCS Q1 results, which fell short of Street estimates, also triggering the brokerage firms to lower t...