Moneycontrol
Last Updated : Jun 14, 2018 01:49 PM IST | Source: Moneycontrol.com

Macquarie neutral on TCS with target Rs 1600; don't see regulatory challenge to buyback

Macquarie don't see any regulatory challenge to buyback, while it expect company to post 10.8% YoY growth in dollar revenue in FY19.

Moneycontrol News @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Shares of Tata Consultancy Services (TCS) shed 2 percent intraday Thursday as foreign broking house Macquarie has maintained neutral rating on the stock with a target of Rs 1,600 per share.

Macquarie don't see any regulatory challenge to buyback, while it expect company to post 10.8% YoY growth in dollar revenue in FY19.

It feels policy on cash return to shareholders remains unchanged.

In the largecap IT space Macquarie prefers HCL Tech ahead of Infosys, TCS, Tech Mahindra & Wipro.

The board of directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on June 15, 2018.

tcs

At 13:32 hrs Tata Consultancy Services was quoting at Rs 1,793.45, down Rs 30.75, or 1.69 percent on the BSE.

It has touched a 52-week high of Rs 1,840.

Posted by Rakesh Patil
First Published on Jun 14, 2018 01:47 pm
Loading...
Sections
Follow us on
Available On