TCS results in line with estimates; share price quoting at premium valuations, says Dipen Shah

Updated: Oct 17 2014, 03:07am hrs
Tata Consultancy Services (TCS) results were in line with estimates, especially on the revenue front.

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