TCS is training its lens on cloud adoption

CIOReviewIndia Team | Tuesday, 15 December 2020, 05:17 IST

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TCS is training its lens on cloud adoption

With increasing IT spends across global spends, Tata Consultancy Services Ltd (TCS) is training its lens on cloud adoption.  Thus showing where the IT industry’s growth is going to come from.

 

The TCS stock has risen over 25% compared to pre-covid highs in February as they have been seeing a good run in 2020. Also, more than 90 percent of the clients TCS surveyed are showing an acceleration in spending on technology and digital.

“The sense before the pandemic that the technology industry has reached a maturity stage has disappeared. TCS sees the start of the first phase of a multi-year technology transformation cycle," said analysts at Axis Securities in a note to clients.

Cloud migration technologies may not be that difficult as TCS had earlier adapted to technology challenges ahead of its peers, point out analysts.

“The stock is currently trading upwards of twice its standard deviation of its historical median, which suggests that the stock is fully factoring in the multi-year growth opportunity and has limited room for error," said analysts at Motilal Oswal.

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