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Apurva Prasad

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Apurva Prasad's Comment & Analysis
A complete archive of Apurva Prasad's articles, including current analysis & comment.

Persistent Systems (NSE:PERS): Persistent Systems’ (PSYS) Q3 print was exemplary, delivering growth (in-line) and an improving margin profile, though new deal bookings were soft. PSYS’ programmatic...
L&T Technology Services (NS:LTEH): L&T Technology Services’ (LTTS) Q3 growth came in lower than our estimates, but a steep acceleration in Q4 is likely (due to SWC seasonality). While the...
HCLT delivered an in-line revenue/margin performance. Revenue growth of 3.8% QoQ CC was supported by growth in services, CTG acquisition and software business seasonality. On expected lines, the...
Tata Consultancy Services (NS:TCS): Tata Consultancy Services (TCS) delivered in-line revenue growth and operating performance in Q3, albeit with a pick-up in deal wins (best book-to-bill for Q3...
Infosys (NS:INFY): Infosys (INFO) delivered a strong Q2 top-line leading to the anticipated guidance increase for FY25E. INFO outperformed peers in Q2FY25 on anticipated lines (Infosys update: On...
Tech Mahindra (NS:TEML): Tech Mahindra’s (TECHM) growth and margin trajectories remain a work in progress. Q1 growth and margin print were slightly ahead of estimates, buoyed by stronger growth in...
Tata Elxsi (NS:TTEX): Tata Elxsi (TELX) delivered an in-line quarter both on revenue and margin. While the growth print was resilient despite the Q3 seasonality/furlough impact, the growth...
L&T Technology Services (NS:LTEH): L&T Technology Services (LTTS) maintained its FY24E outlook implying a strong exit in Q4FY24E, even as Q3 performance was lower than expected. Revenue growth...
Wipro (NS:WIPR): Wipro’s (WPRO) revenue regressed with the third successive quarter of sequential decline. Factors driving the underperformance of WPRO continued such as (1) higher...
Infosys Ltd (NS:INFY)Infosys’ strong deal wins (highest-ever) were offset by sluggishness in volumes and a slower pace of conversion resulting in cuts to our FY25E growth estimates. While Q2...