TCS shares underperform Nifty for fourth year in a row
Mumbai: Shares of Tata Consultancy Services Ltd, India’s largest IT firm by market value, underperformed the benchmark Nifty 50 index for the fourth consecutive year in 2017. Brokerage firm Nomura Research finds valuations of TCS to be expensive as it is not convinced on margin sustainability and expects earnings before interest and tax margins to fall to 23.9% in fiscal year 2020, from 25.7% in fiscal year 2017. “Given the concentration of revenues in BFSI and retail, overall growth was impacted in retail; this was driven by cost-cutting pressures, which impacted demand,” said Nomura Research in a 1 December note. A legislation introduced in the US proposed, among other things, a 100% pay hike for H-1B visa holders—this would automatically restrict firms from hiring low-wage workers in the US and instead hire American workers.
TCS Share Price Today: Technical and Fundamental Analysis Indicates Upward Trend
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