India's biggest outsource Tata Consultancy Services (TCS) warned of 'weakness' in global markets, marking latest downbeat comment to emerge from India's flagship software industry. In the March-ended quarter, TCS beat analysts forecasts with a 23 percent rise in net profit, and gave a relatively optimistic outlook. But its rivals, Infosys and Wipro, gave muted forecasts, warning of a tough year ahead due to global uncertainty and the growing anti-outsourcing sentiment in the United states. ''There is weakness in Multiple markets, both developed and developing,'' TCS chief executive N Chandrasekaran told annual general meeting of the company.
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