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Some large international investors have begun a quiet accumulation drive in Tata Consultancy Services stock following the company's recent road shows in the US, the UK and Singapore.

According to highly placed overseas fund sources, the Re 1 stock is expected to record an EPS of Rs 75 during 2006-07. "Some global investors appear convinced that TCS' revenue and profit growth in the next 8 quarters could be as high as 50 per cent", the sources said.

The company is said to have targeted 30,000 fresh recruitments in 2006-07.

They also pointed out that a set of foreign investors has turned attention towards Infosys too (face value Rs 5) as a long-term bargain bet.

Both the cum-bonus (one for one) stocks declined by over 4 per cent, offering a value "bargain" for long-term players, dealers said. TCS finished at Rs 1,570.35 and Infosys closed at Rs 2,639.10 on the NSE.

Jayanta Mallick

More Stories on : Stocks | Ear to the ground | Tata Consultancy Services Ltd

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