TCS surges on better-than-expected quarterly earnings

July 18, 2014
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MUMBAI (Reuters) – Shares in Tata Consultancy Services , India’s biggest software services exporter, rose 3.8 percent in early trading after its April-June profit and sequential U.S. dollar revenue growth of 5.5 percent beat estimates.

Better-than-expected revenue growth reduces the asking rate for achieving management’s guidance of better revenue growth in FY15 than FY14, Nomura said in a report on Friday.

Analysts added that although TCS’ valuation looks rich, it is sustainable given execution and visibility remains good.

(Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)

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