As India’s largest software services provider, Tata Consultancy Services Ltd, fell short of analysts, projections of a lowering demand for outsourcing in Latin America and some industrial sectors.
In almost five and a half years, Tata Consultancy was on course to record its worst single-day fall yet in an upbeat Mumbai Market as its shares decreased by as much as 8.5 on Friday. It is a contrast as of Thursday where the stock was up 25% more than the main market.
It is also stated by Sarabjit Kour Nangra, vice president of research at Mumbai-based Angel Broking, that Infosys, arch-rival of Tata Consultancy, has posted good numbers, analysts developed a high expectation for the company and so were disappointed when it missed the estimates.
Notably, Nangra also stated due to the main metrics for operation such as operating margin and client additions are at optimum level, there is no cause for concern over the company’s short-to-medium growth outlook. This being stated Tata Consultancy Services is as always, poised for growth despite of the hurdle.