"BUY TCS ABOVE 3340 TARGET 3370/3385 SL 3300"
As the IT services sector looks poised to
continue with its trailblazing journey in the March quarter of the financial
year 2020-2021 ,We expect The Tata Group crown jewel TCS to maintain its leadership position in the
space in terms of revenue growth and margin expansion. TCS expected to achieve
this feat aided by certain large deals such as Post bank and Prudential
Financial. Now strong Hopes of a strong quarterly performance were visible in
the stock price movement. The scrip jumped 11% for the IT stocks three months ended March 2021 and
has risen nearly 16% on a year-to-date basis.This is against a 5 % rise in
Nifty & a gain of 6% in the IT stocduring the March quarter.
Keeping with the past trend, the firm, which is slated to post its Q4 numbers
on April 12, is unlikely to give any guidance, although it could call out the
current pandemic as a key catalyst for the third wave of outsourcing. It may
also express confidence on comfortable double-digit growth and sustained
profitability.
We expect TCS to report a 9 % year-on-year growth in revenue for the March
quarter, led by the above-mentioned factors. The revenue could rise by 4.9
% quarter-on-quarter in dollar terms and 4.5% in constant currency
terms.
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