Sharekhan's research report on Tata Consultancy Services
We remain positive on TCS given acceleration in deal wins with increasing TCVs, strong digital growth and acceleration in BFSI (management cited double-digit exit growth rate). A stable performance in a seasonally weak quarter; Revenue growth was driven by strong digital revenue growth and continued growth in BFSI and retail. Management remains optimistic to deliver double-digit CC growth in FY2019, led by strong performance in BFSI and ramp-up of large deal wins.
Outlook
We maintain our Buy rating on TCS with an unchanged PT of Rs. 2,400.
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