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BUZZ-India's Tata Consultancy Services gains on upbeat Q2 profit
October 14, 2016 / 5:06 AM / a year ago

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

** 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)

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