October 14, 2016 / 5:06 AM / 9 months ago

BUZZ-India's Tata Consultancy Services gains on upbeat Q2 profit

1 Min Read

** Tata Consultancy Services gains as much as 2.4 pct; while main NSE index down 0.15 pct

** India's biggest software services exporter on Thursday posted an 8 pct rise in Sept-qtr profit, beating estimates

** Outlook remains subdued due to uncertainty surrounding the U.S. elections and Britain's decision to leave the European Union

** TCS warned in Sept that its financial sector clients were holding back on discretionary spending

** TCS, with a resilient portfolio mix, low price positioning and strong client connect, is most insulated from the weak demand environment, say analysts at Ambit Capital

** Brokerage maintains FY17-18 earnings estimates and target price of 2,900 rupees, rating as "buy"

** In contrast, rival Infosys shares slump 5.3 pct after company lowers FY17 revenue guidance (Reporting by Aastha Agnihotri in Bengaluru)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below