Buy Tata Consultancy Services; target of Rs 2300: Sharekhan
Sharekhan’s research report on Tata Consultancy Services
We remain positive on TCS, given strong deal wins with increasing TCVs, healthy deal pipeline and robust digital growth. TCS reported lower-than-expected CC revenue growth of 10.6% y-o-y; however, margins remained a tad below our estimates. Digital, with an annual run-rate of $ 7 billion+, continued to show strong growth momentum, grew by 42.1% y-o-y.
We maintain our Buy rating on TCS with an unchanged PT of Rs. 2,300.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.