October 17, 2021

The World Live Breaking News Coverage & Updates IN ENGLISH

The World Live Breaking News Coverage & Updates IN ENGLISH

TCS share price edges higher ahead of Q2 results; dollar revenue growth, deal wins in focus

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, TCS share price edges higher ahead of Q2 results; dollar revenue growth, deal wins in focus, The World Live Breaking News Coverage & Updates IN ENGLISH
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, TCS share price edges higher ahead of Q2 results; dollar revenue growth, deal wins in focus, The World Live Breaking News Coverage & Updates IN ENGLISH

TCS is expected to report more than 5 percent sequential growth in revenue in constant currency terms and 4.7 percent increase in dollar revenue in Q2FY22, say experts

, TCS share price edges higher ahead of Q2 results; dollar revenue growth, deal wins in focus, The World Live Breaking News Coverage & Updates IN ENGLISH

Tata Consultancy Services’ share price edged higher in the morning trade on October 8 ahead of the country’s largest IT services company’s second- quarter result announcement.

Tata Consultancy Services is expected to report more than 5 percent sequential growth in revenue in constant currency terms and a 4.7 percent increase in dollar revenue in Q2FY22, with deal wins likely to be similar to Q1FY22, powered by mid-sized deals, experts say.

The growth in revenue is expected to be driven by conversion of earlier strong orders, recovery in Indian markets after a fall in the June quarter and strong spending on digital by corporates.

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“We expect strong constant currency revenue growth rate of 5.3 percent powered by strong spends on digital and short-cycle programmes, conversion of strong bookings of the earlier quarter into revenues, and recovery in India after a sharp contraction of 14.1 percent in the June 2021 quarter,” said Kotak Institutional Equities. The brokerage expects a growth of 4.7 percent in international markets and 15 percent in India business.

Most experts say the deal wins in the quarter ended September 2021 are expected to be largely similar to the previous quarter.

“We expect $8 billion of total contract value (TCV) powered by mid-sized deals. We do not expect any skew in TCV from mega-deals. TCV of deals will decline on YoY comparison even as previous year number was skewed by Phoenix mega-deal of $2.5 billion,” said Kotak.

At 1054 hours, the stock was trading at Rs 3,952.00, up Rs 59.40, or 1.53 percent. It has touched an intraday high of Rs 3,963.85 and an intraday low of Rs 3,898.95.

Disclaimer: The views and investment tips expressed by experts on moneycontrol.com are their own, and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​

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