TCS Q3: Elephants can dance, but can be wobbly at times
TCS trades at 20 times one-year forward earnings estimates, and some analysts are still working with a rupee-dollar exchange rate of 72
After several quarters of sedate growth, Tata Consultancy Services Ltd (TCS) has returned to double-digit growth this fiscal year. Its growth of 12.1% in the December quarter (Q3), on an annualized revenue base of nearly $20 billion, is nothing to sneeze at. And, especially so, considering its peers are growing at a lower rate on a lower revenue base.