BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
HDFC Securities Report
Tata Consultancy Services Ltd. reports a stellar Q2 performance and a strong commentary.
Key positives included the following -
Strong deal wins (including Phoenix Standard Life), supported by market share gains, vendor consolidation with a high number of small and mid-sized deals enabling faster transition) and a balanced deal pipeline;
Broad-based growth across core verticals (banking financial services and insurance, retail and consumer packaged goods rebound) and core geographies (U.K. to be volatile);
Resumption of hiring momentum with 12,000 fresher on-boarding planned in Q3 (7,000 in Q1) and wage increase,
Operational resilience reflected in higher utilisation, lower attrition, lowest-ever day sales outstanding (including unbilled) leading to strong free cash flow generation-linked to better payout (Rs 160 billion buyback announced).
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