The company’s performance was strong, reflecting the impact of unlocking the economy prior to the second wave.
As per the management, its continued growth momentum is a validation of its collaborative, inside-out approach to the customers’ business transformation needs. Customers love its engagement model, end-to-end capability, and its can-do approach to problem-solving. While mapping out their innovation and growth journeys, it is also helping them execute new-age operating model transformations to support those journeys.
Its board has approved a share buyback proposal amounting up to Rs 18,000 crore. With this, TCS has become the first technology company to go for a buyback of its shares in FY22.
The company will buy back shares at Rs 4,500 per share, it said in an exchange filing. That is a 16.58% premium to Wednesday’s closing price.
Valuation & View:
At the CMP of Rs 3857, the stock is trading at annualised P/E multiple of 37.6 times with the annualised EPS of Rs 102, which is fairly valued. Driving accelerated business value realization of its customers’ digital investments has resulted in broad-based revenue growth. The strong order book, a very robust deal pipeline, and continued market share gains give confidence for the future.
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