Buy Tata Consultancy Services, target price Rs 3655: ICICI Securities
Tata Consultancy Services with a target price of Rs 3655. The current market price of Tata Consultancy Services is Rs 3502.25.
ICICI Securities recommended to keep stop loss at Rs 3379.
Tata Consultancy Services, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 1283229.32 Crore) operating in IT Software sector.
Tata Consultancy Services key Products/Revenue Segments include Consultancy Income and Sale of Equipment & Software Licences for the year ending 31-Mar-2023.
Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 60778.00 Crore, up .73 % from last quarter Total Income of Rs 60337.00 Crore and up 13.50 % from last year same quarter Total Income of Rs 53547.00 Crore. Company has reported net profit after tax of Rs 11120.00 Crore in latest quarter.
Investment Rationale
Breakout from 2 months contracting triangle above 200 days EMA and daily MACD is in buy mode.
Promoter/FII Holdings Promoters held 72.3 per cent stake in the company as of 30-Jun-2023, while FIIs owned 12.46 per cent, DIIs 9.75 per cent.
