Country’s largest IT services company, Tata Consultancy Services (TCS) is all set to start the earnings season for the March 2022 quarter. Continued demand momentum amid accelerated adoption of digital technologies and migration to cloud-based solutions will fuel revenue growth in the quarter. Short-cycle deals are likely to be at the forefront of revenue growth.
TCS’ revenue is pegged at Rs503,256 million, implying a sequential growth of 2.9% and a 15.1% growth over the year-ago quarter. Company’s EBIT margins though could witness stress arising from supply-side pressures and strong employee hiring.
Stock view:
Tata Consultancy Services Ltd ended at Rs4,200 up by Rs513.15 or 13.92% from its previous closing of Rs3,686.85 on the BSE.
Delta Corp Ltd ended at Rs328.60 up by Rs2.8 or 0.86% from its previous closing of Rs325.80 on the BSE.
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