India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

<ul>
<li>Tata Consultancy Services has announced a bold USD 6–7 billion investment to build a 1 GW sovereign AI data center network across India, its most capital-intensive project to date.</li>
<li>This move shifts TCS from labor-based IT services to AI-driven infrastructure, aligning it with global compute leaders and advancing India’s AI and data-sovereignty goals.</li>
<li>TCS’s initiative could reshape India’s digital backbone, driving investment across allied sectors and marking a long-term re-rating opportunity for Indian tech toward infrastructure-led growth.</li>
</ul>


Tata Consultancy Services has announced a bold USD 6–7 billion investment to build a 1 GW sovereign AI data center network across India, its most capital-intensive project to date.
This move shifts TCS from labor-based IT services to AI-driven infrastructure, aligning it with global compute leaders and advancing India’s AI and data-sovereignty goals.
TCS’s initiative could reshape India’s digital backbone, driving investment across allied sectors and marking a long-term re-rating opportunity for Indian tech toward infrastructure-led growth.


TCS’s $7 Billion Bet: Building India’s AI Backbone

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.

<ul><li>Muted Demand Continues: The broader economic environment continues to remain challenging, with clients keeping tight control over discretionary budgets.</li><li>Therefore, there is a clear preference for vendor consolidation and cost take-out deals among clients.</li><li>However, the company’s rapid execution and deep relationship with clients will lead to sequential growth.</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.

Muted Demand Continues: The broader economic environment continues to remain challenging, with clients keeping tight control over discretionary budgets.Therefore, there is a clear preference for vendor consolidation and cost take-out deals among clients.However, the company’s rapid execution and deep relationship with clients will lead to sequential growth.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 Ltd - Beat on Margins Front; Growth Momentum Continues

Derivatives and Quantitative Strategist

Gaudenz Schneider

Event-Driven

<ul>
<li>
Context:<a href="https://www.smartkarma.com/entities/tata-consultancy-svcs-ltd" target="_blank" data-smartkarma-citation="entities:18708:1" rel="noopener">Tata Consultancy Services (TCS IN)</a> will report Second Quarter FY 2026 Results on Thursday, 9 October 2025, after market close.</li>
<li>
Highlight: Typically a low-volatility stock, TCS has seen notable post-earnings swings in the past. Option markets now anticipate a move larger than its historic average.</li>
<li>
Why it matters: TCS is a top constituent of the Nifty 50 and Sensex. TCS’s commentary on the new H-1B visa fee could influence sentiment across India’s IT services sector.</li>
</ul>



Context:Tata Consultancy Services (TCS IN) will report Second Quarter FY 2026 Results on Thursday, 9 October 2025, after market close.

Highlight: Typically a low-volatility stock, TCS has seen notable post-earnings swings in the past. Option markets now anticipate a move larger than its historic average.

Why it matters: TCS is a top constituent of the Nifty 50 and Sensex. TCS’s commentary on the new H-1B visa fee could influence sentiment across India’s IT services sector.


Tata Consultancy Services (TCS IN) Q2 FY2026 Results: Options Signal Larger-Than-Usual Move

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/meesho-inc" target="_blank" data-smartkarma-citation="entities:35872:1" rel="noopener">Meesho (1546271D IN) </a>is looking to raise around US$607m in its upcoming India IPO.</li>
<li>Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.</li>
<li>In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.</li>
</ul>



Meesho (1546271D IN) is looking to raise around US$607m in its upcoming India IPO.
Meesho is an e-commerce marketplace, offering a wide assortment of products ranging from low cost unbranded products, regional and national brands at affordable prices to consumers.
In our earlier notes, we have looked at the company’s past performance earlier. In this note, we talk about the implied valuations in the price range.


Meesho Ltd IPO - Value-Led Play, Moderately Priced

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

<ul>
<li>
 Broad-based Weakness:<a href="https://www.smartkarma.com/entities/tata-consultancy-svcs-ltd" target="_blank" data-smartkarma-citation="entities:18708:1" rel="noopener">Tata Consultancy Svcs (TCS IN)</a> 's revenue declined 3.1% YoY in CC; domestic business fell sharply due to BSNL, while international demand remained soft across key verticals.</li>
<li>
 GenAI Pivot Amid Margin Pressure: TCS is shifting from GenAI pilots to scaled deployments, investing heavily in AI skilling, while margins face pressure from underutilization and delayed deal ramps.</li>
<li>
 Outlook Cautious Despite TCV Growth: TCV rose 13.2% YoY to $9.4 Bn, but mega deals are missing; execution delays and macro concerns cloud near-term visibility.</li>
</ul>



 Broad-based Weakness:Tata Consultancy Svcs (TCS IN) 's revenue declined 3.1% YoY in CC; domestic business fell sharply due to BSNL, while international demand remained soft across key verticals.

 GenAI Pivot Amid Margin Pressure: TCS is shifting from GenAI pilots to scaled deployments, investing heavily in AI skilling, while margins face pressure from underutilization and delayed deal ramps.

 Outlook Cautious Despite TCV Growth: TCV rose 13.2% YoY to $9.4 Bn, but mega deals are missing; execution delays and macro concerns cloud near-term visibility.


TCS – Fighting on All Fronts: Gen AI, Competition & Macro Uncertainty. Underperformance Ahead

India

Tata Consultancy Services, a division of Tata Sons Limited, is a global IT services organization that provides a comprehensive range of IT services to its clients in diverse industries. The Company, caters to finance and banking, insurance, telecommunication, transportation, retail, manufacturing, pharmaceutical, and utility industries.

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Tata Consultancy Svcs (TCS IN)

TCS’s $7 Billion Bet: Building India’s AI Backbone

Tata Consultancy Services to invest $6-7 billion in building a 1 GW AI data center network in India, shifting focus to AI-driven infrastructure...

Sudarshan Bhandari

Tata Consultancy Services Ltd - Beat on Margins Front; Growth Momentum Continues

Muted Demand Continues: The broader economic environment continues to remain challenging, with clients keeping tight control over discretionary...

Axis Direct

Tata Consultancy Services (TCS IN) Q2 FY2026 Results: Options Signal Larger-Than-Usual Move

TCS will report Q2 FY2026 results on 9 October 2025 amid potential for larger-than-usual post-earnings swings. Commentary on H-1B visa fees could...

Gaudenz Schneider

Meesho Ltd IPO - Value-Led Play, Moderately Priced

Meesho Ltd (ML) is looking to raise around US$607m in its upcoming India IPO. In this note, we talk about the company’s implied valuations in the...

Akshat Shah

TCS – Fighting on All Fronts: Gen AI, Competition & Macro Uncertainty. Underperformance Ahead

As highlighted in our previous note, TCS is facing multiple challenges. As per reports, TCS has decided to cut 2% of workforce, cutting 12,000...

Sreemant Dudhoria,CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

TCS’s $7 Billion Bet: Building India’s AI Backbone

​Tata Consultancy Services to invest $6-7 billion in building a 1 GW AI data center network in India, shifting focus to AI-driven infrastructure...

Sudarshan Bhandari

Tata Consultancy Services Ltd - Beat on Margins Front; Growth Momentum Continues

Muted Demand Continues: The broader economic environment continues to remain challenging, with clients keeping tight control over discretionary...

Axis Direct

Tata Consultancy Services (TCS IN) Q2 FY2026 Results: Options Signal Larger-Than-Usual Move

TCS will report Q2 FY2026 results on 9 October 2025 amid potential for larger-than-usual post-earnings swings. Commentary on H-1B visa fees could...

Gaudenz Schneider

Meesho Ltd IPO - Value-Led Play, Moderately Priced

Meesho Ltd (ML) is looking to raise around US$607m in its upcoming India IPO. In this note, we talk about the company’s implied valuations in the...

Akshat Shah

TCS – Fighting on All Fronts: Gen AI, Competition & Macro Uncertainty. Underperformance Ahead

As highlighted in our previous note, TCS is facing multiple challenges. As per reports, TCS has decided to cut 2% of workforce, cutting 12,000...

Sreemant Dudhoria,CFA

Tata Consultancy Services to invest $6-7 billion in building a 1 GW AI data center network in India, shifting focus to AI-driven infrastructure...