TCS tanks 4% on revenue concerns

Shares of Tata Consultancy Services (TCS) fell four per cent on Monday on worries growth may be muted after the company had said it expected revenue in the December quarter to be "in line with seasonal trends".

The stock tumbled four per cent to Rs 2,356.4 on the BSE.

On the National Stock Exchange, it was down four per cent to Rs 2,355. The stock was the worst performer among the 30-Sensex constituents.

The third quarter is traditionally weaker for information technology (IT) firms as business is affected by low volume growth amid Christmas, New Year holidays and work leaves in the US and Europe. The US and Europe are the key markets for the over $100-billion Indian outsourcing sector.