Restated numbers are better than the Street's expectations.
Benefits of the improving business environment will accrue, but investors need to be selective.
As the TCS management claimed, growth is becoming broad-based with most of its verticals delivering either flat or positive growth in this quarter.
While a unique business model, growth opportunity and consistent track record are the positives for the issue, the pricing appears stiff.
While the deal at the bid price of Rs 58 per share may bring some cheer to Satyam's shareholders as it brings to end a host of uncertainties, Tech Mahindra has a tough task on its hands, given that Satyam's revenues and client-base is diminishing slowly.
Existing investors, who have bought at higher levels of Rs 200 and above, should remain invested for at least a quarter until further clarity emerges from the bidding process.
Strong risk management systems, a diversified loan portfolio and an impeccable track record make HDFC a safe bet.
HDFC Bank's track record of consistent growth with high profit margins and robust risk management systems bode well for the future.
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