Just when the shares of Tata Consultancy Services (TCS) hit a fresh lifetime high, investment banker JP Morgan issued the term sheet of a block deal in which Tata Sons was looking to sell shares of the software company. The impact of the promoter cashing out was felt on the stock, which has lost over 6% from its peak in just 2 sessions. Possible reasons behind this move include funding ambitious growth plans, paring debt, avoiding an IPO, and taking advantage of the good valuation. Additionally, the sale has a negligible impact on Tata Sons’ shareholding.