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Buy TCS; target of Rs 3810: Motilal Oswal

Motilal Oswal is bullish on TCS recommended buy rating on the stock with a target price of Rs 3810 in its research report dated March 17, 2023.

March 20, 2023 / 11:47 AM IST
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Motilal Oswal's research report on TCS

TCS on 16th Mar’23 announced the resignation of its Managing Director and CEO, Mr. Rajesh Gopinathan, effective 15th Sep’23. The board has nominated its President and BFSI business group head, Mr. K. Krithivasan (Krithi), as the CEO Designate from 16th Mar’23, and he will take over as MD and CEO in FY24 after shareholder approval. As per the company, Mr. Gopinathan is stepping down after 10 years as CXO (CFO followed by CEO) to pursue new interests.


We expect a USD revenue CAGR of ~11% and an INR EPS CAGR of ~16% over FY23-25. Our TP of INR3,810 implies 24x FY25E EPS, with a 20% upside potential. We have a BUY rating on the stock and would recommend adding to the name on any near-term weakness due to this news.

For all recommendations report, click here

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TCS - 17 -03 - 2023 - moti

Broker Research
first published: Mar 17, 2023 11:47 am