TCS Share Price, Tata Group Stock Likely to Give Higher Returns; Brokerage gives new price target on Bharvasha’s Tata shares, ‘Ha’ stock will take a big bounce
What is the target price given by the brokerage?
Brokerage house Motilal Oswal recommends investing in the TCS stock with a target of Rs 3,860, implying a 20% return at the current price of Rs 3,209. The brokerage house said that while there is still some slowdown in the IT sector, given the company’s size, strong order book, balance sheet, increasing number of long-term orders and portfolio, the company appears to be in a strong position to overcome these challenges.
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Brokerages say TCS has shown balanced growth across all sectors. Be it domestic market or US market or Europe! Margin performance of the company was not good in the March quarter. But there are several factors that will see further growth. The company is at the forefront of adopting digital technologies in customer-facing operations. Demand in this sector is expected to improve further. Which will benefit the company. In such a scenario, further revenue growth is expected to remain strong.
pressure in the March quarter
TCS’s results came under pressure in the March quarter of FY23. Both the company’s revenue and margins were weaker than expected. Compared to the previous quarter, revenues in North America were down, which hampered several projects and delayed them. The company’s profit and revenue rose on year-on-year basis in the March quarter. But the figures are somewhat weaker than expected.
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TCS shares slightly higher
Talking about this year, TCS shares have returned only around 1% and in the last five years, TCS has returned around 76%. The one-year high for shares is Rs 3575, while the one-year high for debt is Rs 2926.
(Note: Consult a financial advisor before investing in the stock market)
