TCS Falls on Revenue Growth Worries
March 19, 2014 3:30 PM EST
Shares in Tata Consultancy Services Ltd(TCS.NS) fell on Wednesday after analysts said the company has indicated revenue growth for the quarter ending in March could be weaker than the previous quarter.
An employee of Tata Consultancy Services (TCS) works inside the company headquarters in Mumbai on 14 March, 2013.
The analysts cited comments made by TCS at an analyst briefing.
"At its quarterly analyst briefing, TCS highlighted that revenue growth in 4QFY14 could be weaker than 3QFY14. We are disappointed by the muted outlook for the quarter and expect constant currency revenue growth of around 2 percent, down from our 3 percent estimate earlier," said Kotak Institutional Equities in a report dated on Tuesday.
TCS shares were down 3.7 percent to 2043 rupees at 9;24 am.