Tata Consultancy Services Ltd

532540: XBOM (IND)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Tata Reports an Expectedly Tough Q1 but Already Preparing for the Rebound; Shares Overvalued

Julie Bhusal Sharma

Oct 8, 2020

Narrow-moat Tata Consulting Services, or TCS, reported mixed second-quarter results. The company’s revenue rebounded from the coronavirus-induced declines seen in the previous quarter, surpassing CapIQ consensus expectations, though TCS’ earnings per share fell below CapIQ consensus. Sequential strength in the quarter indicated that economic headwinds brought on by COVID-19 are moderating. We continue to view TCS’ long-term prospects as promising as enterprises continue their digital transformation journeys, a reality further accelerated by the COVID-19 pandemic.

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Tata Consultancy Services Ltd

Tata Reports an Expectedly Tough Q1 but Already Preparing for the Rebound; Shares Overvalued

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