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    TCS – Can a stellar show in a seasonally weak quarter justify the optically expensive valuation?

    TCS remains our favourite core portfolio stock and investors should look at TCS more as a stock to “buy on any decline”

    Madhuchanda Dey
    January 11, 2021 / 11:04 PM IST
    TCS – Can a stellar show in a seasonally weak quarter justify the optically expensive valuation?

    Tata Consultancy Services building. (Image: PTI)

    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

    Highlights - Strong growth in a seasonally weak quarter - Positive YoY growth ahead of guided time line - Broad-based growth across verticals and geographies - Improvement in operating margin despite wage hike - Attrition at all-time low - Confident of a strong FY22 - A core portfolio stock to buy on any weakness  TCS (CMP: Rs 3,120, Market Cap: Rs 1,171,081 crore) had been alluding to a multi-year technology up-cycle and Q3 FY21 was an early glimpse of the same — the company has surpassed expectations on...

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