Buy Tata Consultancy Services; target of Rs 4530: ICICI Direct

ICICI Direct is bullish on Tata Consultancy Services recommended buy rating on the stock with a target price of Rs 4530 in its research report dated October 10, 2021.

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ICICI Direct’s research report on Tata Consultancy Services

Tata Consultancy Services (TCS) is one of the leading IT service providers with a presence in BFSI, communication, manufacturing, retail & hi tech. Consistent organic revenue growth and industry leading margins (>25%) • Stable management, robust return ratios (>RoCE 40%) & payouts (~70%). TCS’ share price has grown by ~3.6x over the past five years (from ~Rs 1,077 in October 2016 to ~Rs 3,976 levels in October 2021).

Outlook

We continue to remain positive and retain our BUY rating on the stock. We value TCS at Rs 4,530 i.e. 34x P/E on FY23E EPS.

For all recommendations report, click here

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