News Update :

TCS's market warning

Sunday, July 1, 2012

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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