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Last Updated : Dec 26, 2019 11:11 AM IST | Source:

Hold Tata Consultancy Services target of Rs 2300: Sharekhan

Sharekhan recommended Hold rating on Tata Consultancy Services with a target price of Rs 2300 in its research report dated December 20, 2019.

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Sharekhan's research report on Tata Consultancy Services

Both BFSI and retail vertical growth would continue to decelerate in Q3FY2020E; further, higher impact of furloughs is expected to affect the growth momentum. Though large deal wins remain robust, management cited that slowdown in revenue growth momentum was due to leakage in existing/old projects. Operating profitability is expected to remain steady in 2HFY2020E, led by pyramid rationalisation, improving utilisation, and operational efficiencies, partially offset by continued increase in overseas cost structure.


We downgrade our rating from Buy to Hold on TCS with a revised PT of Rs. 2,300, given its rich valuation post the recent outperformance.

For all recommendations report, click here

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First Published on Dec 26, 2019 11:11 am
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