While the 2 percent sequential growth in third quarter constant currency revenue of Tata Consultancy Services is marginally better than market estimates, most other numbers are largely in line. Experts say the current performance is largely priced in and see no major revisions in the yearly estimates.
Speaking to CNBC-TV18 on outlook for the company, market expert Ambareesh Baliga said the results are unlikely to lead to any runaway rally in the stock. At best it might lead to a 5-6 percent rise in the stock price over the next few trading sessions, he says.
Apurva Prasad of HDFC Securities prefers to wait for the management commentary on client budgets and performance of various verticals before making any changes to estimates.
Ravi Menon of Elara Capital, however, feels there is chance TCS will underperform Infosys, if it does not make any material changes to its guidance after it announces its quarterly earnings Friday.
According to Sarabjit Kour Nangra, most analysts are now looking forward more to the FY18 guidance.
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