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Shares in Tata Consultancy Services, India's biggest software services exporter, fell 2 per cent in early trade after it reported flat sequential US dollar revenue growth for the December quarter compared with some analysts estimates of 0.5 per cent.
The company's quarterly net profit grew 5.1 per cent, and TCS said it expected strong outsourcing deals momentum to boost growth in the quarters ahead. Read more here .
Premium valuations also seen weighing on the stock, with TCS trading at 20.6 times of its one-year forward earnings compared with 17.3 times for rivals, Thomson Reuters data shows.
At 12.13 pm local time, the stock was trading down by 1.64 per cent at Rs 2,503.30 on the BSE.
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