TCS Share Price: Strong Performance in Q3, Management gains market share on strong demand outlook
Sharekhan maintains a Buy rating on TCS with a revised Price Target of Rs 3590. For TCS, Q3 FY21 was the second consecutive quarter of strong all-round performance, led by a strong demand environment, market share gains and quick revenue conversion from deals won earlier. The company reported better-than-expected revenue growth of 4.1% qoq on constant currency (CC) in a seasonally weak quarter, which is the strongest in the December quarter in the last nine years. On a yoy basis, the company came back to a positive growth trajectory with a CC growth of 0.4%.
Deal win TCVs increased 11.5% qoq (excluding the Phoenix deal TCV from Q2FY2021) and 13.3% yoy, which provides strong revenue visibility going ahead: Reuters