TCS Shares Slide After Wary Clients Hold Back Tech Spending

Tata Consultancy Services Ltd.’s shares dropped as much as 2.5%, their biggest fall since May, after the company reported disappointing revenue and warned that clients were holding off on big IT spending.

Asia’s largest IT services firm posted sales of 634.4 billion rupees ($7.4 billion) for the June quarter. That was down more than 3% after adjustments for currency fluctuations. Shares in smaller rivals Infosys Ltd. and Wipro Ltd also traded in the red on Friday.