TCS shares: Tata Consultancy Services (TCS) shares surged today (April 15) following the company’s announcement of its quarterly profit for the period ending March 2024, made on Friday. TCS revealed its highest EBIT margin in three years, coupled with a remarkable $13.2 billion in deal wins, setting a new record.
April 15 share price of TCS
The TCS share price commenced at ₹4,001.40, matching its previous close, then climbed approximately 1.6 percent to reach ₹4,064.20 on the NSE. It ranked among the top gainers in the Nifty 50 index, trading 0.59 percent higher at ₹4,024.95. Year-to-date, the stock has surged over 5 percent, outpacing the nearly 4 percent gain in the benchmark Nifty 50.
JPMorgan’s remarks regarding TCS stock?
JPMorgan, a brokerage firm, labeled TCS as a “cross-cycle champion,” poised to gain from cost reduction agreements in the short term and discretionary digital transformation deals in the medium term. The brokerage elevated TCS’ stock rating to ‘overweight’ and revised its price target to ₹4,500 from ₹4,000 previously.
What did Goldman Sachs say about the share price of TCS?
Goldman Sachs stated that TCS’ quarterly performance has raised the likelihood of the company achieving double-digit earnings growth in FY25. The brokerage reaffirmed its ‘buy’ rating on the stock with a price target of ₹4,350. Additionally, it upheld its projection of 8 percent revenue growth for TCS in FY25.
Also Read: Jio Financial
About TCS stock, what did UBS say?
UBS remarked that TCS management displayed caution regarding the potential risk of deal deferments and slippages. Despite this, the brokerage emphasized that the conversion of deal wins into revenue is inevitable over time. UBS assigned a ‘buy’ rating to the stock with a target price of ₹4,700 per share.
