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    TCS   INE467B01029

TATA CONSULTANCY SERVICES LTD.

(TCS)
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TCS sees pandemic-driven boost in Europe as clients adopt new technologies

05/26/2021 | 04:29am EDT
An employee of Tata Consultancy Services (TCS) works inside the company headquarters in Mumbai

STOCKHOLM (Reuters) - Indian software company Tata Consultancy Services Ltd (TCS) is seeing acceleration in some parts of its business across Europe as the pandemic pushed companies to adopt new technologies more rapidly, a top executive said.

Europe has been the fastest growing region for TCS from where it gets about a third of its annual revenue of $22.17 billion. In the last full year, continental Europe was the only geography that showed growth for TCS.

The pandemic has proven that you can collaborate remotely and certain technologies where adoptions were slow, such as collaboration technologies or cloud, the openness has increased and therefore there is an acceleration, Sapthagiri Chapalapalli, head of TCS Europe, said in an interview.

"When things open up, you also need to be cautious ... cyber security for example has become a very important topic because when you want to open up you need to do it in a secure way."

TCS, India's largest IT exporter, operates in 19 countries across Europe, catering to dozens of big clients such as Deutsche Bank, SAP, ASML, Infineon, and ABB.

IT service providers are seeing growth in the region as many European companies upgrade their computer technologies, coupled with a shortage of people with the required digital skills, partly because of an aging population.

"The businesses are going to fundamentally change in what they do and technology is going to sit right at the heart of that, and therefore the opportunity is huge," Chapalapalli said.

He expects TCS to operate in newer technologies like 5G which could be applied in industries like manufacturing and automotive.

It last week launched a co-innovation and advanced research center in Amsterdam to work with clients to adopt newer technologies, and plans to make it 5G enabled in the next few months.

(Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ASML HOLDING N.V. 1.98% 731.7 Real-time Quote.80.48%
DEUTSCHE BANK AG -1.10% 10.1 Delayed Quote.14.11%
INFINEON TECHNOLOGIES AG 1.99% 36.375 Delayed Quote.13.62%
TATA CONSULTANCY SERVICES LTD. 1.03% 3862.95 Delayed Quote.33.56%
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Analyst Recommendations on TATA CONSULTANCY SERVICES LTD.
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Financials
Sales 2022 1 906 B 25 864 M 25 864 M
Net income 2022 393 B 5 330 M 5 330 M
Net cash 2022 415 B 5 636 M 5 636 M
P/E ratio 2022 36,4x
Yield 2022 1,97%
Capitalization 14 289 B 194 B 194 B
EV / Sales 2022 7,28x
EV / Sales 2023 6,44x
Nbr of Employees 488 649
Free-Float 27,8%
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Tata Consultancy Services Ltd. Technical Analysis Chart | TCS | INE467B01029 | MarketScreener
Technical analysis trends TATA CONSULTANCY SERVICES LTD.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 37
Last Close Price 3 862,95 INR
Average target price 3 609,95 INR
Spread / Average Target -6,55%
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Managers and Directors
Rajesh Gopinathan CEO, MD & Non-Independent Executive Director
Samir Seksaria Chief Financial Officer
Natarajan Chandrasekaran Non-Executive Chairman
K. Ananth Krishnan Chief Technology Officer
N. Ganapathy Subramaniam COO & Non-Independent Executive Director
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