India's Tata Consultancy Services falls on revenue growth worries

MUMBAI Wed Mar 19, 2014 12:02am EDT

An employee of Tata Consultancy Services (TCS) works inside the company headquarters in Mumbai March 14, 2013. REUTERS/Danish Siddiqui

An employee of Tata Consultancy Services (TCS) works inside the company headquarters in Mumbai March 14, 2013.

Credit: Reuters/Danish Siddiqui

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MUMBAI (Reuters) - Shares in India's Tata Consultancy Services Ltd (TCS.NS) fell as much as 4 percent on Wednesday after analysts said the company has indicated revenue growth for the quarter ending in March could be weaker than the previous quarter.

The analysts cited comments made by TCS at an analyst briefing.

"At its quarterly analyst briefing, TCS highlighted that revenue growth in 4QFY14 could be weaker than 3QFY14. We are disappointed by the muted outlook for the quarter and expect constant currency revenue growth of around 2 percent, down from our 3 percent estimate earlier," said Kotak Institutional Equities in a report dated on Tuesday.

TCS shares were down 3.8 percent at 0348 GMT.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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