TechM has delivered and the numbers hit the spot.
The net income of 3552.88 cr met my expectations of 3500 cr +- 100 cr (please refer my previous post), and Wow! almost on the spot!
Employee benefit expenses are 1677.92 cr almost met my expectations of 1700 cr. I can't believe it and Wow! again!
Merger, travel and other expenses are 1118.25 cr. and the number sadly exceeds my expectation of around 900 cr. This is an area of improvement.
And finally the standalone net is 598.87 cr!!! OMG! OMG! My expectations were 600 cr. with allowable deviation!
A pessimistic approach sees the Forex gain due to the rupee slumber and the other income ( may be interest from the MSAT cash reserves!), and if we negate that amount of 252.65 cr., we may fairly now! say that th combined entity has managed to stay afloat...
And from the consolidated result numbers, this Q's eps stands at 29.63 and is a better number!!! My conviction is stay put, if your risk capability is very low, yes!! Tata Steel has started showing some survival ability, it is quite risky to enter now, that was how MSAT happened to me.
And Hindalco results look promising, and the price looks attractive from valuation perspective!.. let's see tomorrow how both Tata steel and Hindalco react!!
Conviction is to use the spare money to enter Tata Steel/Hindalco... and I have none! I have to divest in TechM! Let me see tomorrow!
I'll dissect Tata Steel and Hindalco numbers only after the market reaction tomorrow.
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