Hem Securities is bullish on Tata Consultancy Services and has recommended buy rating on the stock with a target of Rs 750, in its November 07, 2008 report.
Tata Consultancy Services is the largest Indian software company in terms of sales. It is a part of the Tata Group, one of Asia’s largest conglomerates. TCS started its operations in 1968 as a division of Tata Sons pioneering the offshore -software services delivery model. The company has posted significant growth in its bottom line during Q2FY10. It has witnessed an upward movement in its top line and bottom line. We are positive on TCS’ management of costs and diversifying risk in the future. Also, the upward trend in the financial performance of the company depicts a promising future. Presently the company is running at a P/E multiple of 23.11x to its FY09 EPS of Rs 26.86. We recommend BUY on the stock with a medium to long term price target of Rs 750.
| NIFTY 
