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.
ICICI Direct Report
Tata Consultancy Services Ltd. reported healthy Q2 FY21 results that were above our estimates.
The company reported 4.8% QoQ growth in dollar revenues (in constant currency terms), above our estimate of 2.6% QoQ growth.
The growth was broad based across geographies and verticals. Margins increased 260 basis points mainly due to an improvement in gross margins and lower selling, general and administrative expenses.
The TCS board has approved a buyback of Rs 16,000 crore to buy back approximately 5.33 crore shares at Rs 3,000/share.
The company has also declared an interim dividend of Rs 12/share (the record date is October 15, 2020 while payment date is November 3, 2020).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.