Buy Tata Consultancy Services, target price Rs 3447: ICICI Direct

ICICI Direct has buy call on Tata Consultancy Services with a target price of Rs 3447. The current market price of Tata Consultancy Services is Rs 3395. Time period given by analyst is Intra Day when Tata Consultancy Services price can reach defined target. ICICI Direct recommended to keep stoploss at Rs 3374.8.

Tata Consultancy Services, incorporated in the year 1995, is a Large Cap company (having a market cap of Rs 1244351.90 Crore) operating in IT Software sector.

Tata Consultancy Services key Products/Revenue Segments include Consultancy Income and Sale of Equipment & Software Licences for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 60778.00 Crore, up .73 % from last quarter Total Income of Rs 60337.00 Crore and up 13.50 % from last year same quarter Total Income of Rs 53547.00 Crore. Company has reported net profit after tax of Rs 11120.00 Crore in latest quarter.

Investment Rationale
Price consolidating above 50 day EMA indicating buying demand emerging at lower levels

Promoter/FII Holdings
Promoters held 72.3 per cent stake in the company as of 30-Jun-2023, while FIIs owned 12.46 per cent, DIIs 9.75 per cent.