External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Tata Consultancy Services / Equity Bottom-Up

<ul><li>In Q4FY23, Tata Consultancy Services Ltd (TCS) reported revenue growth of 1.6% QoQ in rupee terms, which was below our expectations.</li><li>The company’s revenues stood at Rs 59,162 Cr, up 16.9% YoY.</li><li>It reported operating profits of Rs 11,392 Cr with Operating Margins at 24.5% (remained flat) on account of lower operating costs offset by sub-contracting costs.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q4FY23, Tata Consultancy Services Ltd (TCS) reported revenue growth of 1.6% QoQ in rupee terms, which was below our expectations.The company’s revenues stood at Rs 59,162 Cr, up 16.9% YoY.It reported operating profits of Rs 11,392 Cr with Operating Margins at 24.5% (remained flat) on account of lower operating costs offset by sub-contracting costs.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Consultancy Services - Growth Slowing Down; Outlook Cautious

<ul><li>Accenture reported robust Q2FY23 numbers which stood above street expectations.</li><li>Revenue for the quarter stood at $15.8 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.</li><li>Beating the street expectation of revenue growth, the company’s operating margins also improved by 10bps to 13.8%.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Accenture reported robust Q2FY23 numbers which stood above street expectations.Revenue for the quarter stood at $15.8 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of slowdown and increasing interest rates.Beating the street expectation of revenue growth, the company’s operating margins also improved by 10bps to 13.8%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Accenture - Results Beat Expectations Albeit with Lower Guidance

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Tata Consultancy Services: TCS delivered revenue beat and in-line operating performance in Q3FY23</li><li>Revenue growth of 2.9% QoQ (1.2% est.) was driven by a disproportionate rise in Regional Market &amp; Others segment (&gt;40% of incremental sequential growth), based on growth in product and APAC business</li><li>Markers for growth deceleration (normalisation) for TCS include soft deal bookings, decline in headcount (also due to bench optimisation), and lower pipeline to bookings conversion in Continental Europe (~15% of revenue)</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Consultancy Services: TCS delivered revenue beat and in-line operating performance in Q3FY23Revenue growth of 2.9% QoQ (1.2% est.) was driven by a disproportionate rise in Regional Market &amp; Others segment (&gt;40% of incremental sequential growth), based on growth in product and APAC businessMarkers for growth deceleration (normalisation) for TCS include soft deal bookings, decline in headcount (also due to bench optimisation), and lower pipeline to bookings conversion in Continental Europe (~15% of revenue)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tata Consultancy Services - Growth Normalisation Ahead

<ul><li>In Q3FY23, Tata Consultancy Services Ltd (TCS) reported revenue growth of 5.3% QoQ in rupee terms, beating our expectations.</li><li>The company’s revenues stood at Rs 58,239 Cr, up 19.1% YoY. It reported operating profits of Rs 14,284 Cr with Operating Margins at 24.5% (expanded 50bps QoQ) on account of better execution and lower operating costs during the quarter.</li><li>Attrition levels remained elevated at 21.3% looming concern over the execution efficiency in the future.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In Q3FY23, Tata Consultancy Services Ltd (TCS) reported revenue growth of 5.3% QoQ in rupee terms, beating our expectations.The company’s revenues stood at Rs 58,239 Cr, up 19.1% YoY. It reported operating profits of Rs 14,284 Cr with Operating Margins at 24.5% (expanded 50bps QoQ) on account of better execution and lower operating costs during the quarter.Attrition levels remained elevated at 21.3% looming concern over the execution efficiency in the future.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

TCS - Superior Execution in Challenging Environment

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>TCS reported revenue of USD6.87b in 2QFY23, up 4.0% QoQ in constant currency (CC) terms, 50bp above our estimates.</li><li>The company reported deal wins of USD8.1b (up 7% YoY/flat QoQ, book-to-bill ratio at 1.2x), in line with its historical trajectory.</li><li>EBIT improved 90bp QoQ to 24% (vs. our estimate of 23.5%) despite supply pressures.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

TCS reported revenue of USD6.87b in 2QFY23, up 4.0% QoQ in constant currency (CC) terms, 50bp above our estimates.The company reported deal wins of USD8.1b (up 7% YoY/flat QoQ, book-to-bill ratio at 1.2x), in line with its historical trajectory.EBIT improved 90bp QoQ to 24% (vs. our estimate of 23.5%) despite supply pressures.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Tcs - Strong Growth and Demand Outlook Key Positive in Q2

India

Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company. It offers a comprehensive portfolio of services including IT infrastructure services, engineering and industrial services, business intelligence, and cloud services, along with various business solutions to multiple industries. TCS is headquartered in Mumbai, Maharashtra, India, and was founded in 1968.

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Tata Consultancy Services (TCS IN)

Tata Consultancy Services - Growth Slowing Down; Outlook Cautious

In Q4FY23, Tata Consultancy Services Ltd (TCS) reported revenue growth of 1.6% QoQ in rupee terms, which was below our expectations.

Axis Direct

Accenture - Results Beat Expectations Albeit with Lower Guidance

Revenue for the quarter stood at $15.8 Bn, posting an encouraging growth of 5% YoY in USD and 15% in local currency despite rising pressures of...

Axis Direct

Tata Consultancy Services - Growth Normalisation Ahead

Revenue growth of 2.9% QoQ (1.2% est.) was driven by a disproportionate rise in Regional Market & Others segment (>40% of incremental sequential...

HDFC Securities

TCS - Superior Execution in Challenging Environment

In Q3FY23, Tata Consultancy Services Ltd (TCS) reported revenue growth of 5.3% QoQ in rupee terms, beating our expectations.

Axis Direct

Tcs - Strong Growth and Demand Outlook Key Positive in Q2

The company reported deal wins of USD8.1b (up 7% YoY/flat QoQ, book-to-bill ratio at 1.2x), in line with its historical trajectory.

Motilal Oswal

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