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Kotak Securities maintains reduce on TCS, target price Rs 2,020

Backed by breadth of offerings, leadership across markets, digital competencies and new market expansion, TCS will continue to gain market share.

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Last Updated: Jan 20, 2020, 08.30 AM IST
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Kotak Securities has maintained its reduce rating on TCS in the long term with a target price of Rs 2,020. The stock ended flat at Rs 2,218 on Friday while the BSE Sensesex closed 12.81 points (0.03%) up at 41,945.37.

Company Financials


For the quarter ended 31-12-2019, the company has reported consolidated sales of Rs 39854.00 crore. The company has reported net profit after tax of Rs 8143.00 crore in the latest quarter.

The company’s top management includes . Company has B S R & Co. LLP as its auditors. As on 31-12-2019, the company has a total of 3,752,384,706 shares outstanding.

Investment Rationale

Backed by breadth of offerings, leadership across markets, digital competencies and new market expansion, TCS will continue to gain market share, according to the brokerage. The current price is, however, expensive with the stock trading at peak multiple in a moderating demand environment that does not make for a good stock return recipe, said the brokerage.

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