Tata Consultancy Services (TCS) shares fell as much as 3.2 per cent after India’s biggest software services exporter had said on Thursday that the fourth-quarter revenue is expected to be in line with last year’s trend.
TCS had reported a 1.9 per cent sequential revenue growth in US 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 has downgraded the stock to “hold’’ from “buy’’.
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