TCS Shares Fall Over 2% Ahead of Business Update

Tata Consultancy Services shares fell more than 2 per cent on Friday. Traders speculated that the company may announce some restructuring, which may impact its earnings outlook.

TCS will provide a business update later in the day, analysts added. TCS does a sell-side meeting before every quarter end.

Management's commentary on FY15 dollar revenue growth will be key, analysts said. TCS shares have 34 'buy' ratings, 16 'hold' and 2 'sell' ratings, according to Thomson Reuters data.

The shares are also at the lower bollinger band and 14-day RSI (Relative Strength Indicator) at 32.

(Copyright: Thomson Reuters 2014)