Pick-up in overseas markets helps TCS beat the Street; net up...

India s largest IT company, Tata Consultancy Services (TCS), on Friday declared a 29.17% rise in net profit for the second quarter of 2009-10, beating analysts expectations. Growth in the banking, financial services and insurance (BFSI) sector, helpful currency movements, opening up of the US and European markets and cost-cutting aided the company. N Chandrashekaran, managing director and CEO, said, We are witnessing improvement in the market conditions, though budgets are still tightly managed. The BFSI sector has opened up and we have seen an uptick in the US as well as the Europe market. We continue to see impact on ...

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