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A soft quarter for TCS — Avoid or add?

A stock correction in TCS presents an ideal opportunity to go long

October 12, 2021 / 11:12 AM IST
A soft quarter for TCS — Avoid or add?

TCS

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

TCS (CMP: Rs 3,935 Market Cap: Rs 1,455,817 crore) has reported a soft quarter with lower-than-expected growth, modest margin performance and a spike in attrition. While the stock may underperform in the near term on account of its strong run-up (outperforming Nifty in the past three months), we believe healthy order inflow, robust outlook and convincing road map will help the company address supply-side issues. The valuation discount to mid-cap also presents a long-term opportunity. Should the stock exhibit...

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