MUMBAI (Reuters) - Shares in Tata Consultancy Services fell as much as 3 percent on Friday, heading towards their biggest fall since Jan. 6, after the company's January-March revenue missed expectations.
TCS on Thursday reported a revenue growth of 1.6 percent on constant currency basis versus expectations of 2.5 percent due to disappointment in telecom, insurance and energy verticals.
Factoring in the fourth quarter, investment bank Citi trimmed its FY16-FY17 estimates by 2 and 3 percent and lowered its share price target to 2,640 rupees. The bank continues to prefer TCS's rival Infosys among large caps.
(Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)
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