Buy Tata Consultancy Services, target price Rs 3660: ICICI Direct

ICICI Direct has buy call on Tata Consultancy Services Ltd. with a target price of Rs 3660. The current market price of Tata Consultancy Services is Rs 3631.

Time period given by analyst is intraday 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 1344975.08 Crore) operating in IT Software sector.


Tata Consultancy Services Ltd. key Products/Revenue Segments include Consultancy Income and Sale of Equipment & Software Licences for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 47978.00 Crore, up 4.00 % from last quarter Total Income of Rs 46132.00 Crore and up 16.88 % from last year same quarter Total Income of Rs 41049.00 Crore. Company reported net profit after tax of Rs 9653.00 Crore in latest quarter.

Investment Rationale
Price rebounding after taking support at the 20 days EMA and the last weeks double bottom breakout area

Promoter/FII Holdings
Promoters held 72.19 per cent stake in the company as of 30-Sep-2021, while FIIs owned 15.37 per cent, DIIs 7.9 per cent.