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EQUITY - MARKET SCREENER

Dharani Cements Ltd (Merged)
Industry :  Cement - South India
BSE Code
ISIN Demat
Book Value()
5400
N.A
10
NSE Symbol
P/E(TTM)
Mar.Cap( Cr.)
N.A
0
0
EPS(TTM)
Face Value()
Div & Yield %
0
10
0
 

Tata Consultancy Services Ltd
Fitch upgrades TCS to 'A'; outlook 'Stable'
Dec 16,2021

The upgrade reflects Fitch's reassessment of the linkages between TCS and Tata Sons (TSOL), which holds 72% of TCS.

The credit rating agency rates TCS at the same level as its standalone credit profile (SCP) of 'a', where we believe that the investment holding company (IHC) will not weaken the credit quality of the investee by taking out cash or other assets.

While TSOL has the majority of votes at TCS' general meetings, the ratings agency does not believe it will take action that would lead to a lower SCP for TCS because: corporate governance is strong; TSOL does not control the TCS board; there is a strong track record of maintenance of a conservative balance sheet at TCS, which only pays shareholder returns out of cash flow generated; and, most notably, TCS has a lot of headroom in its 'a' SCP.

TCS is the largest Indian IT services company by revenue and provides IT services, consulting, digital and business solutions to a diversified global customer base.

The IT major's consolidated net profit rose 6.84% to Rs 9,624 crore on 3.21% increase in net sales to Rs 46,867 crore in Q2 FY22 over Q1 June 2021 Q1 FY22. On a year-on-year (YoY) basis, the IT major's net profit rose 28.75% and net sales rose 16.77% in Q2 FY22.

The scrip rose 0.29% to currently trade at Rs 3580.10 on the BSE.