Shares of TCS slipped 2 percent intraday on Wednesday after it announced its March quarter results .
What disappointed the street was its margin decline of 50 basis points even as revenue met estimates breaking six quarters jinx. TCS' operating profit grew by 1.9 percent sequentially to Rs 7412 crore and margin declined 50 basis points to 26.1 percent in Q4.
However, most analysts are not much worried about TCS performance. With a buy rating, CLSA says that stronger revenue, receding headwinds and improved commentary drive revenue and earnings upgrades of 1 percent.
The brokerage firm has also upgraded its target price by 7 percent.
It feels that a decline in (recent drags (Diligenta, India, telecom), digital strength and client mining will drive growth acceleration over FY17.
However, most analysts are not much worried about TCS performance. With a buy rating, CLSA says that stronger revenue, receding headwinds and improved commentary drive revenue and earnings upgrades of 1 percent. 
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