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HDFC Securities constructive on TCS, says growth markers very strong

Updated : April 13, 2021 10:28:17 IST

HDFC Securities remains constructive on IT major Tata Consultancy Services (TCS) as the growth markers are very strong, said Apurva Prasad, research analyst-IT, HDFC Securities, on Tuesday.

TCS has impressed once again with all-round growth. The IT major has reported a 6.26 percent rise in consolidated net profit at Rs 9,246 crore in Q4FY21 as compared to Rs 8,701 crore in the previous quarter.

The company's consolidated revenue in Q4FY21 increased 4 percent to Rs 43,705 crore from Rs 42,015 crore in the December quarter. A CNBC-TV18 poll had estimated a revenue of Rs 43,660 crore.

Speaking in an interview to CNBC-TV18, Prasad said, “We are still constructive on TCS. The growth markers are very strong. Therefore, we are looking at the next two-years which, on an incremental basis, will be adding more than 2x incremental revenue.”

“Our pecking order is Infosys, HCL Technologies and TCS... There is a lot more valuation comfort in Infosys,” he said.

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