Tata Consultancy ServicesLtd (Q1 FY09) Sedate performance

Kiran · 07-18-2008, 03:24 PM

Tata Consultancy ServicesLtd (Q1 FY09) Sedate performance

CMP Rs728 , BUY

Target price Rs875, Upside 20%

* Dollar revenue growth disappoints plagued by issues with respect to key clients

* Sluggish growth in BFSI continues; growth witnessed in ADM and some newer services

* OPM decline of 110 bps qoq was lower than anticipated

* Net profit beats estimate aided by change in depreciation policy

* Employee addition was healthy but attritio n inches up again

* Rate TCS as BUY with target price Rs875; short-term outperformance likely.

07-18-2008, 03:24 PM	#1 (permalink)
Kiran Status: Administrator Join Date: Feb 2008 Posts: 165	Tata Consultancy ServicesLtd (Q1 FY09) Sedate performance Tata Consultancy ServicesLtd (Q1 FY09) Sedate performance CMP Rs728 , BUY Target price Rs875, Upside 20% * Dollar revenue growth disappoints plagued by issues with respect to key clients * Sluggish growth in BFSI continues; growth witnessed in ADM and some newer services * OPM decline of 110 bps qoq was lower than anticipated * Net profit beats estimate aided by change in depreciation policy * Employee addition was healthy but attritio n inches up again * Rate TCS as BUY with target price Rs875; short-term outperformance likely.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode