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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

    Madhuchanda Dey
    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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