Emkay Global Financial has given Hold recommendation for Tata Consultancy Services with a target price of Rs. 3150 in its research report issued on Apr 13, 2021

Emkay Global Financial’s report on Tata Consultancy Services

TCS reported strong revenue growth of 4.2% qoq/5.9% YoY in CC terms, broadly in line with estimates. Despite the integration of low-margin deals (Post Bank and Pramerica), EBITM expanded 20bps QoQ on the back of strong revenue growth and robust operating efficiencies. Revenue growth was broad based, led by BFSI (7% CC QoQ), Retail & CPG (4%), Manufacturing (3.9%), Life Science & Healthcare (3.8%), Technology & Services (2.8%) and Communication and Media (1.8%). All geographies posted sequential growth.