Hold Tata Consultancy Services; target of Rs 2475: Edelweiss

Edelweiss recommended hold rating on Tata Consultancy Services with a target price of Rs 2475 in its research report dated February 20, 2017.

February 22, 2017 / 13:52 IST

26 Aug, 2025 12:21

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Edelweiss' research report on Tata Consultancy Services

Tata Consultancy Services (TCS) has announced a proposal to buy back 56.1mn shares (2.85% of total paid up equity capital) at a price of INR 2,850, aggregating to INR160bn, as a way to return cash to shareholders. The offer price is 13.9% higher than the current market price.

Outlook

We believe, the buy-back sets an example for other Indian IT companies to return cash to shareholders. We maintain ‘HOLD’ with target price of INR 2,475.

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first published: Feb 22, 2017 01:52 pm

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