Flash News Investment - - RECOMMENDATIONS -

We had rec­om­mended TCS in vol­ume no.33 is­sue no. 19 (dated Fe­bru­ary 27, 2017), when the scrip was trad­ing at Rs 2,481. Our rec­om­men­da­tion was on the back of pos­i­tive im­pact of its share buy­back of­fer. In FY17, the com­pany has shown growth of 8.6 per­cent in rev­enues and 7.5 per­cent growth in net profit. It paid fi­nal div­i­dend of Rs 27.5 per eq­uity share to its share­hold­ers for FY17. Dig­i­tal seg­ment is ex­pected to grow due to op­por­tu­ni­ties in cloud au­to­ma­tion and an­a­lyt­ics. Its EBITDA mar­gins might be un­der pres­sures due to visa is­sues and ru­pee ap­pre­ci­a­tion. But man­age­ment is pos­i­tive about the per­for­mance in up­com­ing quar­ters. So, we rec­om­mend our in­vestors to HOLD the scrip.

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