Buy Tata Consultancy Services, target Rs 2,510: Anand Rathi

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26 Aug, 2025 12:21

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Anand Rathi

Tata Consultancy Services (TCS) is an IT services, consulting & business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for over past fifty years.

The company has grown consistently at industry leading growth rates on the back of its strategy of adding new clients, winning large deals and co-innovating with customers.

TCS has delivered a double digit revenue CAGR of 10.5 percent in the last three years. Its revenue has grown from Rs 10,86,460 million in FY-16 to Rs 14,64,630 million in FY-19.

TCS strong TCV wins, improving YoY growth in BFSI, all-round vertical growth, rising digital revenue and healthy Q4 exit rate drive confidence on underlying momentum, and we expect the IT major to comfortably post double-digit revenue growth in FY20E.

We expect growth momentum to continue in FY20, given deal wins of USD 6.2bn in Q4-FY19.

We initiate our coverage on Tata Consultancy Services (TCS) with a buy rating and target price of Rs 2,510 per share.

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