The second-quarter earnings of TCS missed analyst expectations on many fronts, pushing its shares down 3% at ₹1,944 in early trade today. After four quarters of double digit growth, TCS reported a growth of 8.4% in constant currency. Some brokerages have downgraded their earnings estimate, post its Q2 earnings announcement. "We downgrade our operational earnings estimate by 2-4%. EBIT margin contraction of 250bp YoY is a reflection of high pressure on earnings growth," Motilal Oswal said in a note.

Source: Mint October 11, 2019 03:45 UTC