Tata Consultancy Services (TCS), a leading IT services, consulting and business solutions firm, today published business update report for Q3 FY15. The company's management expect Q3 2015 revenue to be in-line with seasonal trends.

Further, Retail, Manufacturing and Hi-Tech likely to see impact of holidays and furloughs, it said.

The management of the company also expect BFSI to be impacted by weakness in Insurance & products. Telecom and smaller verticals to grow better than company average. North America demand environment in-line adjusted for seasonal weakness.

The management is of the opinion that Europe to grow better than average while UK remains weak due to seasonality and impact of Insurance. Moreover it sees strength in ITIS.

''Currency impact; -20 bps CC to INR revenue; -220 bps CC to USD revenues ; marginal benefit on EBIT. Target EBIT Margin band unchanged,'' the management added.

Shares of the company declined Rs 36.85, or 1.48%, to settle at Rs 2,455.70. The total volume of shares traded was 101,061 at the BSE (Friday).