Tata Consultancy Services, a division of Tata Sons Limited, is a global IT services organization that provides a comprehensive range of IT services to its clients in diverse industries. The Company, caters to finance and banking, insurance, telecommunication, transportation, retail, manufacturing,...

Infosys delivered another stellar quarter, beating our and consensus estimates on revenues and margins. Revenues grew 6.2% QoQ (highest in Q3 in 8 years) to USD3.5bn. Digital revenues rose 12.4%/33.8% QoQ/YoY, contributing over 50% of overall revenues. Infosys raised its FY21 revenue growth guidance to 4.5-5% in cc terms (earlier 2-3%) and EBITM guidance range to 24-24.5% (earlier 23-24%) based on 9M performance and robust deal wins. Revenue guidance implies 0.5-2.5% QoQ growth in Q4. signed in YTD FY21 was ~USD12bn (+63% YoY) with net new deal wins of USD8.2bn (~3.3x YoY). The deal pipeline is healthy (tad lighter after strong conversions in Q2/Q3)....

Wipro (WPRO) delivered an upbeat QoQ performance in Q3FY21 with 3.4% CC revenue growth, ahead of our estimate of 2.7%.

Infosys' (INFO) Q3FY21 dollar revenue growth of 6.2% QoQ beat our estimate of 3.5%, with the company also posting its highest-ever TCV of US$ 7.1bn.

CESC's 3Q results highlight volume recovery in the S/A business. Volumes in S/A were just 1% YoY lower (v/s 1H: -21% YoY). S/A PAT was up 3% YoY. Consol. PAT, on the other hand, grew 21% YoY, partly led by profit at Dhariwal and improved performance at Crescent & Surya. Performances at Dhariwal and distribution franchises (DFs) would continue to improve. Furthermore, the co. has declared an interim dividend of INR45/sh, highlighting the co.'s willingness to return excess cash. Despite factoring in the tightening of norms at Haldia and S/A, the stock trades...

Nifty has broken out of rising channel for upside of 14750/15240. Close below 14200, could allow index to cool down up to 13550.

We believe strong investments in digital technologies, cloud transformation , IoT, as-a Service, Machine learning etc. across verticals will help to generate higher revenue accelerations.These macro economic events will also help to have strong deals.

We retain BUY with a revised target price of Rs 877 (earlier target Rs 590) valuing the company at 5x EV/EBIDTA FY23E giving an upside of 32%.

Karnataka Bank (KBL) reported Net Profits of Rs 135 cr, higher than our estimate of Rs 119cr led by decline in Cost of Deposits (CoD) of 66/11bps YoY/QoQ to 5.4% and lower provisions of Rs 214cr, down 32/34% YoY/QoQ. NIM expanded by 43bps to 3.26% leading NII growth of 21/7% YoY/QoQ, even as yields

Asian markets are trading mixed as investors watch for developments on the coronavirus front. Nikkei is trading higher by 0.55%, Hang Seng is trading lower by 0.04% and Shanghai is trading lower by 0.53%. Indian indices are expected to open in the green. Sgx Nifty is trading higher by 0.21%.