Buy Tata Consultancy Services: target of Rs 4600: Sharekhan

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

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26 Aug, 2025 12:21

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Sharekhan's research report on Tata Consultancy Services

TCS reported healthy numbers for Q4FY2022, with marginal beat in revenues and in-line EBIT margins. Deal wins stayed at record high of $11.3 billion (including two mega deals), rising 49%/23% q-o-q/y-o-y. Demand remains robust, led by (1) higher Cloud adoption, (2) increased outsourcing and (3) Growth & Transformation agenda. TCS remains at forefront in participating in client’s growth and transformation journey, given full-service model. Record high deal win TCVs, good client additions and broad-based growth across industries provide strong double-digit revenue growth visibility for FY2023E. USD revenue/earnings to clock a 12%/14% CAGR over FY2022-24E.

Outlook

We continue to prefer TCS led by its solid execution, strong digital competencies, robust order intake, higher payouts to shareholders and a robust client base. Hence, we maintain a Buy on the stock with an unchanged PT of Rs. 4,600.

More Info

At 17:30 Tata Consultancy Services was quoting at Rs 3,691.45, down Rs 4.95, or 0.13 percent.

It has touched an intraday high of Rs 3,738.60 and an intraday low of Rs 3,650.05.

It was trading with volumes of 283,042 shares, compared to its thirty day average of 113,927 shares, an increase of 148.44 percent.

In the previous trading session, the share closed up 0.26 percent or Rs 9.55 at Rs 3,696.40.

The share touched its 52-week high Rs 4,045.50 and 52-week low Rs 3,004.80 on 18 January, 2022 and 03 May, 2021, respectively.

Currently, it is trading 8.75 percent below its 52-week high and 22.85 percent above its 52-week low.

Market capitalisation stands at Rs 1,365,486.32 crore.

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