EUR 120.00 For Business Accounts Only

MOSL: Morning India (23/March/20): 1. TCS (Focus on employee safety and business continuity); 2. Ashok Leyland; 3. Escorts; 4. V-MART

MOrning India (23/March/20):  1. TCS (Focus on employee safety and business continuity); 2. Ashok Leyland; 3. Escorts; 4. V-MART

 

Today’s top research idea

TCS: Focus on employee safety and business continuity

• We hosted a call with TCS' management to better understand the current situation surrounding COVID-19 outbreak. While it's still early to understand COVID-19's impact on business, TCS is assessing the situation one day at a time.
• So far, everything is normal on the operational front. Work from home has been initiated for most of the employees in India and at onsite locations. If the situation aggravates further, operations will shift to the business continuity mode where only the most critical businesses will be delivered.
• As of now, APAC is the most affected geography since there was close to two months of impact. Given its limited presence in Italy, the impact due to lock down of the country will not be material.
• Despite the near-term uncertainties, we expect TCS to be resilient given its historical track record of adapting to multiple business challenges and technology change cycles.

Piping hot news

Coronavirus cases at 396 in India, says ICMR

The death toll due to the novel coronavirus pandemic rose to seven, while the total number of cases soared to 360 as fresh cases were reported from various parts of the country on Sunday, the Union Health Ministry said. Gujarat, Bihar and Maharahstra reported a death each on Sunday, while four deaths were earlier reported from Karnataka, Delhi, Maharashtra and Punjab, the Health Ministry said.