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BUZZ-India's TCS comes off early lows but concerns remain about outlook
April 19, 2017 / 4:21 AM / 7 months ago

BUZZ-India's TCS comes off early lows but concerns remain about outlook

** Shares of Tata Consultancy Services Ltd gain up to 1.73 pct, coming off an early fall of 2.43 pct

** India’s biggest software services exporter on Tuesday reported slightly smaller-than-expected rise in Q4 profit

** Revenue rises 4.2 pct to 296.42 bln rupees ($4.59 bln)

** Concerns remain about outlook given stronger rupee and potential U.S. visa changes, Morgan Stanley warns

** Morgan Stanley downgrades stock to “underweight” from “equal-weight”, cuts price target to 2,100 rupees from 2,300 rupees

** Fifteen of 51 brokerages covering the stock rate it “buy” or higher, 25 “hold” and 11 “sell” or lower; their median PT is 2,470 rupees - Thomson Reuters Eikon data

** Stock had fallen 2.4 pct this year as of Tuesday’s close ($1 = 64.5500 Indian rupees)

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