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1. TCS stock was trading low at 2.3% to Rs 2,255.00 as against the previous close of Rs 2,308.65  in the morning trade on BSE

2. It posted a 4.2% rise in the net profit to Rs 6,608 crore for the fourth quarter(Q4) ended on March 31 this year 

A day after TCS reported a better than expected fourth quarter (Q4) results despite slow growth in its businesses from BFSI, Retail and Hitech verticals, the stock of the company fell down over 2% in the early morning trade on the BSE.

The stock of the company was trading low at 2.3% to Rs 2,255.00 as against the previous close of Rs 2,308.65 in the morning trade on the exchange.

TCS on Wednesday posted a 4.2% rise in the consolidated net profit to Rs 6,608 crore for the fourth quarter(Q4) ended on March 31 this year. Its consolidated net profit was Rs 6,340 crore in the fourth quarter (Q4) of previous fiscal.

Its total revenue for the quarter grew by 4.2% to Rs 29,642 crore as against Rs 28,449 crore in the corresponding quarter of last fiscal.

According to PTI news report,TCS newly-inducted CEO and MD Rajesh Gopinathan termed the numbers as a "fairly satisfying in a challenging operating environment" which included political turbulence with protectionist tendencies in its key market and also currency volatilities where the rupee is appreciating.

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"BFSI, Retail and Hitech were the key drags in FY17, of which TCS expects to see a recovery in BFSI and Hi-Tech next year. The stronger verticals will likely see continued traction, although the outlook is more of cautious optimism in Communications and Manufacturing," it further added. 

HDFC Securities has projected a secular growth for the company going forward.

"While BFSI is expected to improve slightly on improving deal pipeline for TCS going ahead, we remain circumspect of secular growth. Any meaningful acceleration is expected to be challenged by a continuation of volatility in LatAm/India business, and softness in the Legacy services (82% of revenue)," the research firm said.

"Our estimates remain nearly unchanged with FY18/19E EPS at Rs137/148. We expect US dollar revenue/EPS CAGR of 8.4/5.5%," HDFC Securities said. 

At 10:33 hours, the stock of TCS was trading down 0.37% or Rs 8.65 at Rs 2300 on the BSE.

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