Tag: tcs

On Friday, Jefferies maintained its hold rating on Tata Consultancy Services (NS:TCS), with a price target (PT) of Rs 4,030. The firm noted that TCS\’s fourth-quarter results surpassed expectations, but cautioned that persistent demand pressures cast a shadow over the growth outlook. Despite a strong deal pipeline, the management\’s conservative commentary, coupled with a continued reduction in headcount and a significant cut in subcontractor use, raised concerns regarding future growth prospects.

Sensex and Nifty plummeted as FPIs sold off, influenced by US inflation and tweak in India-Mauritius tax treaty. Investors are also cautious on valuations, profit booking, and rising commodities prices. EPS growth is likely to moderate in Q4 earnings season which begins today with TCS.

TCS Q4 Results: Revenue from operations increased by a marginal 3.5% year-on-year (YoY) to Rs 61,237 crore. On a sequential basis, profit after tax jumped 12%, compared with Rs 11,058 crore clocked in the preceding December quarter. Revenues were up 1% quarter-on-quarter (QoQ).

This will be paid on the fourth day from the conclusion of the 29th Annual General Meeting. TCS\’ revenue for the January-March quarter stood at Rs 61,237 crore, up 3.5% on a year-on-year basis and 2.2% YoY in constant currency terms. Full-year revenue was reported at Rs 240,893 crore, up 6.8% YoY and over 3.4% in the CC terms while the net income stood at Rs 46,585 crore jumping by 10.5% YoY.

So, even a small amount of slippage in expectations can lead to a sell-off. So, I would think that the stock is more than fairly valued at this price. I would believe that the valuations are on the higher side at 196 levels.

Ajay Srivastava of Dimensions Corporate says \”we are in that zone where people are comfortable where they are and therefore willing to carry the investment and also make more investment. So, yes, there are fundamental factors, but to me the most important is human psychology. We are feeling good today and when we feel good, we want to do things and become more expensive.\”

Market expert Joshi praises TCS\’s outstanding financial performance, expecting a stock re-rating. Anticipates positive sector impact and growth in BFSI, energy, manufacturing, life sciences, and healthcare industries based on TCS\’s stellar results.

India and Mauritius have agreed to a protocol to alter a double taxation avoidance agreement (DTAA) stating that tax relief cannot be for the indirect benefit of residents of another country. As a result, all FPIs will have to examine whether they have enough commercial rationale to be based in Mauritius when the tax scrutiny happens.

TCS Q4 Results: The company\’s order book for FY24 was at an all-time high of $42.7 billion and record $13.2 billion in the March quarter, led by the mega deal with Aviva and others in the emerging markets vertical.

Indian indices drop on U.S. inflation concerns. TCS to report. Sun Pharma, Asian Paints, Kotak Bank, NTPC, Maruti top laggards.

Banks spending more on technology to meet regulatory mandates, companies upgrading SAP systems and a broader increase in technology spending after US elections due in November are some of the factors that have raised demand recovery prospects for India’s $245 billion-plus IT services sector next year.

TCS anticipates sequential growth in Q4 driven by BFSI and manufacturing sectors. Operating margin estimates 25.2-27.2%. Key focus on FY25 outlook, Hi-Tech, telecommunications, US, Europe, and Accenture Plc. Investor interest in Dalal Street.