TCS shares gain; management retains f'cast
Reuters Market Eye - Tata Consultancy Services(TCS.NS) gains 0.4 percent after its management reiterates its positive forecast for fiscal years 2013 and 2014 in a meeting with analysts on Monday.
Barclays says TCS management indicated volume growth slowdown was not alarming and said the company's performance will continue to lead peers.
Jefferies says TCS' current share price offers a "good entry point" and management believes that year is panning out as per expectations.
TCS shares have fallen 8.3 percent so far this month as of Monday's close.
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India approved on Saturday the purchase of 814 mounted gun systems for the army at a cost of 157.5 billion rupees ($2.55 billion), a defence ministry spokesman said. Full Article