Religare raises TCS target price to Rs 1800 post Q1 nos

Rumit Dugar, IT Analyst of Religare told CNBC-TV18, "Tata Consultancy Services (TCS) reported a very strong set of numbers in Q1; the volume growth was over 6 percent. International business growth was almost 8 percent. So clearly on one hand, where you have a mixed kind of a demand environment, we have seen numbers from IBM, Accenture; the bookings have been good, but revenue growth has not been that great."

"Companies that are executing well should continue to get the premium and TCS has shown excellent execution. So we have raised our target price to Rs 1,800," he adds.