Consistent high volume growth reflects effective demand generation initiatives and efficient execution.
In the past several quarters, TCS has reported industry leading growth rates with sustained margins.
The company is seeing some softness in Retail/Insurance verticals, though.
The share price is quoting at premium valuations, which may keep ranged in short term.
However, we remain bullish over the medium-to-long term.
By Dipen Shah, Head-Private Client Group Research, Kotak Securities