Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Research

| More

Tata Consultancy Services - Q1FY21 Result Update - ICICI Securities

Posted On: 2020-07-10 09:53:59


Tata Consultancy Services (TCS) has strong digital (new age technology) expertise which has led to the company winning large deals over the years. Going forward, global digital technologies is expected to witness robust growth (CAGR of ~20% CAGR over next five years) mainly led by business going digital and increase in work from home scenario. TCS is expected to be a key beneficiary of this trend. In addition, TCS has over the years also built strong products and platforms that have enabled it to scale existing clients efficiently while also enabling it to win new clients. Further, TCS' Secure Borderless Workspace (SBW) delivery model and Machine First Delivery Model (MFDM) framework will provide unique differentiation for its services. This will enable it to grow its revenues above industry in coming years. This coupled with strong cash flow generation and dividend pay-out keeps us positive on the stock from a long-term perspective.

Valuation & Outlook

In the near term, revenues, margins are expected to be under pressure leading to a washout FY21E. However, TCS has the ability to bounce back as seen in the 2008 global financial crisis. Further, we believe there are long term drivers for the company in terms of market share gains, acceleration in digital technologies and ability to win large deals based on company's execution. Hence, we remain positive on the stock from a long-term perspective. However, the current valuation factors in most of the positives. Hence, we maintain HOLD on the stock with a revised target price of Rs. 2400.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_TCS_Q1FY21.pdf

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2221.65 as compared to the previous close of Rs. 2204.35. The total number of shares traded during the day was 259682 in over 14758 trades.

The stock hit an intraday high of Rs. 2249.15 and intraday low of 2177.25. The net turnover during the day was Rs. 574668146.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Disclaimer:The article above is a gist / extract of the original report prepared by the research firm / brokerage firm. This article is not to be considered as an offer to sell or a solicitation to buy any securities. This article is meant for general information only. www.equitybulls.com, its employees or owners or the research firms, its employees or owners won't be responsible for any liability that may arise from information, errors or omissions in these articles. www.equitybulls.com or its employees or owners / the research firms or its employees or clients or owners may from time to time hold positions in securities referred in this article. For detailed research reports, please contact the concerned research firm directly.





Other Headlines:

Auto Sales Numbers - July 2020 - Acuité Ratings & Research

Preview on RBI Monetary Policy - Shanti Ekambaram, Group President - Consumer Banking, Kotak Mahindra Bank

Mahindra Logistics - Q1FY21 Result Update - ICICI Securities

RBI monetary policy - Views from Mr Mandar Pitale - Head, Treasury, SBM Bank India

Phoenix Mills - Q1FY21 Result Update - ICICI Securities

Alkem Laboratories - Gladiator Stocks - ICICI Securities

Ajanta Pharmaceuticals - Q1FY21 Result Update - ICICI Securities

Torrent Power - Quant Pick - ICICI Securities

Security & Intelligence Services - Q1FY21 Company Update - ICICI Securities

Torrent Pharmaceuticals - Q1FY21 Result Update - ICICI Securities

Covid Recovery Pulse - Average daily auto registrations, E-Way bill generation shows recovery signs - ICICI Securities

Bharti Airtel - Q1FY21 Result Update - ICICI Securities

Sagar Cement - Q1FY21 Result Update - ICICI Securities

Dabur India - Q1FY21 Result Update - ICICI Securities

Mastek Ltd - Q1FY21 Company Update - ICICI Securities

Dr Reddy's Laboratories - Q1FY21 Result Update - ICICI Securities

Kewal Kiran Clothing - Company Update - ICICI Securities

Maruti Suzuki India - Q1FY21 Result Update - ICICI Securities

State Bank of India - Collection efficiency trends allude to lower asset vulnerability - ICICI Securities

SRF Limited - Packaging film margin zooms - ICICI Securities

Karur Vysya Bank - Earnings improve, but concerns persist - ICICI Securities

Core Sector Output & Fiscal Deficit: Acuité Ratings & Research

Maintain ADD on Colgate Palmolive - Toothpaste returning to growth, beat in the margin - HDFC Securities

Pre-Monetary Policy View - Lakshmi Iyer, Chief Investment Officer - Debt & Head Products, Kotak Mahindra Asset Management Company

SBI - 1QFY21 - Angel Broking

State Bank of India - Q1FY21 Results - YES SECURITIES

Maintain BUY on CDSL - Market share gain impressive - HDFC Securities

REDUCE on RBL Bank - Near-term pain inevitable - HDFC Securities

Maintain BUY on Orient Cement - Healthy performance despite sharp volume decline - HDFC Securities

Pre-Monetary Policy View - Sudhakar Shanbhag, CIO, Kotak Mahindra Life Insurance Company Limited

Maintain BUY on Maruti Suzuki - Improving outlook - HDFC Securities

Maintain REDUCE on Dr. Reddy's Labs - Strong beat, positives in the price - HDFC Securities

Reliance Industries - 1QFY21 - Angel Broking

ADD on Interglobe Aviation - Delayed recovery - HDFC Securities

Views on Reliance Industries Q1FY21 Results: Mr. Deepak Jasani, Head Retail Research, HDFC Securities

HDFC Ltd - 1QFY21 - Angel Broking

Bharti Airtel - 1QFY21 - Angel Broking

Loan Moratorium & Impact on Banks & NBFCs - Acuité Ratings & Research

Maintain REDUCE on Hexaware Technologies - Protracted recovery path - HDFC Securities

ADD on IndusInd Bank - Equity raise an additional positive - HDFC Securities

Maintain ADD on Multi Commodity Exchange - Strong recovery in volume - HDFC Securities

Maintain REDUCE on Nestle India - Muted 2Q; hit by supply disruptions - HDFC Securities

Maintain BUY on Tech Mahindra - Recovery on the cards - HDFC Securities

Maintain BUY on UltraTech Cement - Well rounded performance! - HDFC Securities

Maintain ADD on United Spirits - Weak show; gradual recovery expected - HDFC Securities

Greenlam Industries - Exports continue to drive outperformance - ICICI Securities

InterGlobe Aviation - No qualms on survival is the investment thesis - ICICI Securities

Thermax - Tempered by global macro challenges - ICICI Securities

Kewal Kiran Clothing - Strong balance sheet to cushion downside - ICICI Securities

CEAT - Tight cost control supports performance - ICICI Securities







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019