Buy Tata Consultancy Services, target price Rs 3430: ICICI Securities

ICICI Securities has buy call on Tata Consultancy Services with a target price of Rs 3430. The current market price of Tata Consultancy Services is Rs 3217.9. Time period given by analyst is Intra Day when Tata Consultancy Services Ltd. price can reach defined target.

Tata Consultancy Services Ltd., incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 1190872.60 Crore) operating in IT Software sector.

Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 46132.00 Crore, up 3.35 % from last quarter Total Income of Rs 44636.00 Crore and up 18.53 % from last year same quarter Total Income of Rs 38920.00 Crore. Company reported net profit after tax of Rs 9031.00 Crore in latest quarter.


Investment Rationale
Higher base at 100-day EMA and rising demand line joining lows since March

Promoter/FII Holdings
Promoters held 72.2 per cent stake in the company as of March 31, 2021, while FIIs held 15.7 per cent, DIIs 7.8 per cent and public and others 4.3 per cent.