Hence, we continue to maintain HOLD' rating on the stock with a revised TP of Rs. 2,011, valuing at 22x FY20E EPS. Revenue beat reflects superb execution capability TCS' Q1FY19 performance was ahead of our expectation with strong revenue growth of 6.8% QoQ on consolidated basis (CC revenue growth of 4.1%) led by broad based growth across verticals, continued strong growth in UK (8.2% QoQ in CC terms) & continental Europe (5.3%) and recovery in the US BFS space. USD revenue however grew at a meagre pace of 1.6% QoQ weighed down by cross currency headwinds (impact of 250bps QoQ)....