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TCS – the promising bet on post pandemic technology upcycle

We would advise investors not to get blinded by the optically expensive valuation of TCS and focus on the emerging opportunity which could be a catalyst for valuation rerating

October 08, 2020 / 03:39 PM IST
TCS – the promising bet on post pandemic technology upcycle

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 - Stellar quarter – recovery ahead of expectations - Strong sequential improvement in revenue – broad-based across verticals - Sharp improvement in operating margin that is likely to sustain - Deal win remained healthy and pipeline strong - Beneficiary of vendor consolidation and strong upsurge in technology spending - Multiple re-rating on the cards, buy on market weakness That technology benefitted during the pandemic is known but what comes as a strong validation of the bounties accruing to technology companies is the statement from the TCS...

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