March 14, 2012 / 9:18 AM / 6 years ago

Worries over FYQ4 hit TCS shares

REUTERS - Shares in TCS dropped 3.3 percent to 1,157 rupees after a Nomura research report warned India’s largest software services exporter was facing a “muted” Q4 following the brokerage’s visit with the company’s management.

Indian engineers attend to calls from abroad inside a call center in Gurgaon on the outskirts of New Delhi December 3, 2003. REUTERS/Kamal Kishore/Files

“TCS is likely to see a muted 4Q according to management, with volume growth likely lower than the 3.2% that it registered in 3Q and only slightly better than flattish,” said Nomura in its report dated March 13.

Nomura kept TCS at “neutral” with a target price of 1,200 rupees.

Reporting by Abhishek Vishnoi; Edited by Rafael Nam

Our Standards:The Thomson Reuters Trust Principles.
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