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Shares of Tata Consultancy Services were among the top losers on the benchmark BSE Sensex on Thursday; the stock was down over 1.5 per cent on the BSE as its mixed earnings and near-term uncertainty left investors disappointed.
Although the September quarter has been seasonally strong for Indian software exporters, analysts stated this time Q2 earnings are likely to show a continuation of weak demand with macro uncertainty prolonging.
His analysis suggests the current slowdown to be an entire FY24 phenomenon rather than 1H and the impact possibly extending to FY25 discretionary spends.