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TCS is India ’s largest IT company. |
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Sunday, 17 June 2007 |
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TCS is India ’s largest information technology company with revenues of US$4.3 billion. The company is expected to achieve revenues of over US$9 billion by FY10 and be
among the top 10 information technology companies globally.The above expectation is corroborated by a robust deal in pipeline and a strong hiring guidance.
Though the recent appreciation in the rupee would hurt margins, we believe the sell off in IT stocks is over done. The company’s new services such as remote infrastructure management, revenue assurance services, BPO and business intelligence are seeing good traction are likely to see healthy growth going forward.
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It also has sufficient levers to reduce the impact of the appreciating Rupee on margins through higher offshoring, higher pricing and productivity gains, the stock could give a 5% to 7% upside over the next 15 days, as it is available at attractive valuations.
Source :: ICICI Direct
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