Shares of India’s largest IT services provider Tata Consultancy Services Ltd (TCS) are trading marginally lower on Wednesday ahead of its quarterly results announcement later this evening.

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The Tata group company will announce its financial results for the April-June quarter of 2023-24 which would also be the first results commentary under the new CEO K Krithivasan.

Besides, the board of the company will also consider a proposal for an interim dividend for the financial year 2023-24.

Market analysts expect TCS to report muted growth in the first quarter which is generally a seasonally strong quarter for IT services players.

According to a CNBC-TV18 poll, TCS is expected to see less than 1 percent growth in both US Dollar and rupee revenue, while operating profit margin or EBIT margin is likely to decline sequentially.

The street expects June quarter to be the slowest for the company in a decade except for during the COVID-19 pandemic period.

The poll estimates TCS to see Constant Currency growth of 0.2 percent in the June quarter over the March quarter, which saw a 2.2 percent growth. Its June quarter growth is also likely to lag Infosys' growth of 0.7 percent.

Shares of TCS are trading 0.3 percent lower at Rs 3,263. The question to be asked is whether the bad news is already in the price. The stock is down 10 percent from the highs of February.