India's largest IT company Tata Consultancy Services (TCS) is back with a bang in the second quarter. It reported constant currency revenue growth of nearly 5 percent and margins crossed 26 percent for the first time in two years. The company also announced a buyback to the tune of Rs16,000 crore at a 9 percent premium to the stock's closing price today.
Prakash Diwan, a market expert said, "There was an expectation of a subdued quarter. However, look at the comeback and the way they have kind of done a beat on all counts. What the pandemic has done is it has set the ball rolling for digitalisation and the cloud computing to take on much more significant capex from companies and clients."
He said, "If you see a percentage of the digitalisation going up from there, there is enough headroom for TCS."Watch the video for more.