Tata Consultancy Services: Revenue in Line and Margin Better than Expected
TCS delivered US$6,696mn in revenue in 4QFY22, broadly in line with our estimate of US$6,725m although EBIT margin at 25% came in 50bps above our...
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Tata Consultancy Services: Deal Lift-Off, Strong Execution
TCS’ performance highlight was its strong deal bookings of USD 11.3bn, supported by mega deals of ~USD 1.8bn TCV (~0.5/0.8% revenue impact for FY23...
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SK Shieldus IPO - Peer Comparison - Better Top Line Growth, Worse Margin Decline
SK Shieldus (SKS) aims to raise around US$800m via issuing a mix of primary and secondary shares in its Korea IPO. In this note, we undertake a...
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TCS: Strong Performance; Robust Execution
We recommend a BUY rating on the stock and assign a 31x P/E multiple to its FY24E earnings of Rs 135.2/share to arrive at a TP of Rs 4,200/share,...
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Information Technology Sector- Sector Update- Move to Underweight
We are downgrading Indian IT Services sector to underweight (UW) on a 12-month basis, though in the near term, there is relative earnings...
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