QUICK TAKE: TCS STOCK MAY TAKE A BREATHER

TCS stock was up 5% in one week ahead of its Q2 results last Friday evening. Emkay Global says, Q2 revenue and EBIT margin were 1.7% and 60 bps lower than its estimates. While the demand environment and deal in-take remains strong, Emkay has cut its FY22/23/24 EPS estimates by 1.2%/0.3%/0.3% after Q2 miss. The brokerage has maintained ‘Hold’ with a target price of ~3,700