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    Buy Tata Consultancy Services, target price Rs 3409: ICICI Direct

    Synopsis

    Price taking breather above the recent falling channel breakout area, signaling pause before next up move.

    Tata Consultancy ServicesAgencies
    Tata Consultancy Services, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 1133116.73 Crore) operating in IT Software sector.
    ICICI Direct has buy call on Tata Consultancy Services with a target price of Rs 3409. The current market price of Tata Consultancy Services is Rs 3379.85. Time period given by analyst is Intra Day when Tata Consultancy Services price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 3348.

    Tata Consultancy Services, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 1133116.73 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-2022.

    Financials
    The company posted a 5.3% sequential rise in consolidated revenue for the quarter ended December to Rs 58,229 crore. The net profit rose nearly 4% on quarter to Rs 10,846 crore but was lower than the expected Rs 11,200 crore.

    Investment Rationale
    Price taking breather above the recent falling channel breakout area, signaling pause before next up move.

    Promoter/FII Holdings
    Promoters held 144.6 per cent stake in the company as of 31-Dec-2022, while FIIs owned 25.88 per cent, DIIs 18.4 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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