Moneycontrol
Jul 17, 2017 04:27 PM IST | Source: Moneycontrol.com

Accumulate Tata Consultancy Services Ltd; target of Rs 2675: KRChoksey

KRChoksey' is bullish on Tata Consultancy Services Ltd has recommended Accumulate rating on the stock with a target price of Rs 2675 in its research report dated July 14, 2017.

Accumulate Tata Consultancy Services Ltd; target of Rs 2675: KRChoksey

KRChoksey's research report on Tata Consultancy Services Ltd

In dollar terms, Net Sales in Q1 FY18 stood at $4,591 Mn which was marginally below our estimate of $4,606 Mn and reported a growth of 3.1% qoq and 5.2% yoy By Geography: Continental Europe led the growth figures with a 5.9% qoq growth, followed by Latin America at 2.8% qoq and India at 1.5% qoq. North America bounced back after a decline in Q4FY17 and grew at 1.7% qoq.By Industry: Energy and Utilities led the pack with a growth of 7.6% qoq growth, followed by Travel & Hospitality at 7% qoq growth and LifeSciences and Healthcare at 4.7% qoq growth in CC terms. Digital revenues stood at 18.9% of overall revenues, registering a 7.6% qoq growth

Outlook

We have “ACCUMULATE” rating on the stock and as we assign multiple of 15.5x to its FY19E EPS of INR. 166.7 to arrive at a price target of INR 2,583.

For all recommendations report, click here

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