Comments
Software major Tata Consultancy Services Ltd (TCS) shares fell as much as 2.9 per cent to Rs 1,922.35, its lowest level since July 11
At 1.15 p.m, the stock was trading at 1,921, down by Rs 58 or 2.94% on the NSE.
The company’s Q2 profit of Rs 7,901 crore ($1.07 bln) beat estimates on Thursday, helped by revenues from retail sector and banking, financial services and insurance clients. The compnay is expected to post double-digit revenue growth in this financial year
Jefferies cuts price target to Rs 2,300 from Rs 2,315 citing EBIT margin of 26.5 per cent missing their expectation on lower operational efficiency gains
Nomura expects marginal downside to consensus growth numbers and possible tempering of multiples, given the shift in liquidity scenario; maintain “reduce” rating with a price target of Rs 1,950.
Macquarie, however, expects co to post strongest organic growth of Tier-1 pack; believe that TCS premium valuations can be sustained on the back of this
Macquarie maintains “outperform” rating with price target of Rs 2,345.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.