TCS To Potentially Jump To Rs 3700 In 1 Year, Buy Call Raised: BNP Paribas

Leading brokerage BNP Paribas has given buy rating to Tata Consultancy Services Ltd. The stock is currently trading very near to its 52-week low. An investment at its current market price in TCS will potentially fetch a return of 19.97%. The stock has declined 0.83% intraday on BSE. In just 1 year, shares of TCS have declined by 21%.

The stock operates in IT Software sector. The IT stocks have suffered strong decline in the past few months. Several reasons have been attributed to the decline in Indian IT sector that include decline in the global markets and possible recession situation in European and US markets. Also, when Indian Rupee rises against US Dollar, the IT sector suffers and vice-versa.

Check key takeaways below:

1. TCS Stock Outlook

The current market price of TCS is Rs 3078 apiece with an intraday fall of 0.83%. The 52-week high of the stock is Rs 4045 apiece and 52-week low is Rs 2926 apiece. The stock has declined 23.91% from its 52-week high.

2. TCS 5-Years Return

The stock has given a return of 151% in last 5 years, 50% in last 3 years, and declined 21% in last 1 year.

3. TCS Market Capitalisation

The company has a market capitalisation of Rs 11,26,548.74 crore as of October 7, 2022.

4. TCS Latest Quarterly Result

TCS for the quarter ended June 30, 2022 has declared a consolidated total income of Rs 53,547 crore, up 4% from the last quarter total income of Rs 51,572 crore. It has declared a net profit after tax of Rs 9,519 crore in latest quarter.

 

5. About TCS

TCS offers a consulting-led, cognitive-powered, integrated portfolio of business, technology, and engineering services and solutions. This is delivered through its unique Location Independent Agile^TM delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 592,000 of the world's best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India.

Disclaimer

The stock has been picked from the brokerage report of BNP Paribas. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.