TCS announces excellent first quarter results post Market Closing…It closed at Rs 433 but should open firm on Monday

TCS closed at Rs 433 today…It should open firm on Monday 

This evening it has announced an excellent First Quarter FY 10,despite pressure on billing rates

On Revenues of Rs 7207 crs,the PAT is Rs 1534 crs,up 15% qoq and 19% yoy.The EPS is Rs 7.83…This gives a Market Multiple of less than 14…Infosys is 18+…so expect TCS to firm up towards Rs 500  

“We have delivered Rupee Growth and Dollar Growth” says N Chandrasekaran,COO,TCS

TCS has contracted 8 Large Deals in Q 1 across several Business Verticals…..5 from USA,2 from Europe and 1 in Asia Pacific….It is pursuing potentially big 20 more such contracts

It has 141642 Employees on it’s rolls as of date and the utilisation level is 79.2% excluding Trainees and 71.3% including Trainees

TCS seems to have been very proactive in meeting challenges in a tough and very competitive Business Environment 

Market will reward this Performance and take the price to 16-18 multiple range…that’s from Rs 433 currently towards Rs 500  

However TCS remains cautious on Prospects…They never give a Guidance,like Infosys does….and say it would be foolish to predict, with any certainty,volume growth ahead…They see stability in the main BFSI Segment but see some worries in Pharma,Telcom and other sectors