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Overall brokerage houses turned mixed after better-than-expected quarterly earnings and strong growth visibility going ahead.
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While the payout limits the downside, rupee depreciation in a volatile global environment could act as a tailwind. Investors should use dips to accumulate TCS as a core holding in the large cap IT space.
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Operating margin for the quarter is 25 percent marginally lower than the 25.4 percent it posted in the previous quarter.
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Net Sales are expected to increase by 5.8 percent Q-o-Q (up 14.7 percent Y-o-Y) to Rs. 33,927.3 crore, according to Motilal Oswal.
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Net Sales are expected to increase by 7 percent Q-o-Q (up 16 percent Y-o-Y) to Rs. 34,331 crore, according to Edelweiss.
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Net Sales are expected to increase by 5.8 percent Q-o-Q (up 14.7 percent Y-o-Y) to Rs. 33,925 crore, according to HDFC Securities.
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Accenture’s robust Q318 results along-with persisting double digit growth in outsourcing revenues further bolsters confidence, the report further added.
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Most brokerage houses maintained their ratings as the stock already rallied more than 45 percent in last one year, but raised target price on the stock after earnings.
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Net Sales are expected to increase by 2.1 percent Q-o-Q (up 6.4 percent Y-o-Y) to Rs. 31,543.6 crore, according to ICICI Direct.
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Net Sales are expected to increase by 1.29 percent Q-o-Q (up 5.61 percent Y-o-Y) to Rs. 31,303.6 crore, according to KR Choksey.
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Net Sales are expected to increase by 2.9 percent Q-o-Q (up 7.3 percent Y-o-Y) to Rs. 31,795.8 crore, according to Kotak.
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Net Sales are expected to increase by 2 percent Q-o-Q (up 6.3 percent Y-o-Y) to Rs. 31507.7 crore, according to Edelweiss.
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Net Sales are expected to increase by 3 percent Q-o-Q (up 7.4 percent Y-o-Y) to Rs. 31,837.2 crore, according to Motilal Oswal.
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Tech Mahindra has posted a strong quarter. In an interview with CNBC-TV18, Ravi Menon of Elara shared his views and readings on the same as well as on some of its peer companies.
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In an interview to CNBC-TV18, Ravi Menon, Analyst-IT Services at Elara shared his views and readings on Infosys Q3 numbers.
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While maintaining Buy rating on the stock with a target price at Rs 3,000 per share, UBS said numbers were in-line, with retail segment picking up but banking declining.
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In an interview with CNBC-TV18, V Ramakrishnan, CFO, Ajoyendra Mukherjee, EVP & Head of Global Human Resources, Rajesh Gopinathan, Managing Director and CEO, and N Ganapathy Subramaniam Executive Director and Chief Operating Officer at Tata Consultancy Services (TCS) spoke about the results and their outlook for the company.
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Moneycontrol takes a look at what multiple brokerages are talking about the result expectations.
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Tech major Tata Consultancy Services (TCS) will be in focus on the back of its Q3 earnings. In an interview to CNBC-TV18, Sandip Agarwal, VP-Wholesale Capital Markets at Edelweiss Financial Services shared his views on the likely outcome.
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The domestic brokerage firm expects 1.2 percent QoQ growth on CC basis and cross-currency tailwinds of around 10bps. Soft revenue growth is expected due to furloughs and soft traction in BFS in North America.
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As it is seasonally a weak quarter for IT companies due to holidays and furloughs in western markets, analysts expect revenue growth to be muted.
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CLSA has reduced its growth expectations for Wipro, TCS & HCL Technologies, and lifted expectations for Infosys.
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Brokerages remain mixed on the results, but highlight that there were some sectoral gains seen in the September quarter performance.
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In an interview to CNBC-TV18, Rajesh Gopinathan, CEO & MD, NG Subramaniam, COO, V Ramakrishnan, CFO and Ajoyendra Mukerjee, Executive VP & Head-Global HR of Tata Consultancy Services (TCS) spoke about the results and their outlook for the company.
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Net Sales are expected to increase by 3.4 percent Q-o-Q (up 4.4 percent Y-o-Y) to Rs. 30579.2 crore, according to Kotak.
