Buy TCS, target price Rs 2160: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities has a buy call on Tata Consultancy Services with a target price of Rs 2160. The current market price of Tata Consultancy Services is Rs 2067.05. Chandan Taparia recommended to keep a stop loss at Rs 2040.

Tata Consultancy Services key products/revenue segments include consultancy income which contributed Rs 1,21,033 crore to sales value (98.26 per cent of total sales) and sale of equipment & software licences which contributed Rs 2,137 crore to sales value (1.73 per cent of total sales) for the year ending 31 March, 2019.

For the quarter ended 30-06-2019, the company has reported a consolidated sales of Rs 38,172 crore, up .43 per cent from last quarter sales of Rs 38,010 crore and up 11.42 per cent from last year same quarter sales of Rs 34,261 crore. The company has reported a net profit after tax of Rs 8,153 crore in latest quarter. The company’s top management includes Pradeep Kumar Khosla, Ron Sommer, Aman Mehta, Daniel Hughes Callahan, Keki M Mistry, N Chandrasekaran, N G Subramaniam, O P Bhatt, Rajesh Gopinathan, Aarthi Subramanian, Hanne Birgitte Breinbjerg Sorensen. The company has B S R & Co. LLP as its auditor. As on 30-06-2019, the company has a total of 3,752,384,706 shares outstanding.