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BUZZ-India's TCS falls on Q1 profit miss; top loser on NSE
July 14, 2017 / 4:04 AM / 3 months ago

BUZZ-India's TCS falls on Q1 profit miss; top loser on NSE

** Shares of Tata Consultancy Services fall as much as 2.9 pct in early trade

** Stock is top percentage loser on NSE index

** Software services provider’s consolidated Q1 net profit falls 6 pct, misses estimates as stronger rupee hits revenue

** With margins under pressure owing to rupee appreciation and other factors, TCS’ earnings are likely to decline in FY18, Morgan Stanley analysts write

** Nomura analysts reiterate “reduce” rating; says margin pressure and “expensive” valuations to weigh on stock, cuts price target to 2,180 rupees from 2,200 rupees

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