MUMBAI (Reuters) - Tata Consultancy Services (TCS) shares fell as much as 3.2 percent after India's biggest software services exporter said on Thursday that fourth-quarter revenue is expected to be in line with last year trend.
TCS reported a 1.9 percent sequential revenue growth in U.S. dollar terms for the fourth quarter of 2013-14 which would put the January-March quarter growth at below current estimates, analysts said.
"Overall, Q4 is likely to be another soft quarter from TCS, and with expectations already high, we see downside risks to earnings," Religare said in a note.
The broker downgraded the stock to "hold" from "buy".
The stock closed 1.8 percent lower.
(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app