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Earnings

TCS profit jumps 7% in December quarter: Here's what brokerages have to say

Updated : 2021-01-11 09:10:10

India's largest software services firm Tata Consultancy Services on Friday reported a 7.2 percent year-on-year (YoY) rise in consolidated net profit at Rs 8,701 crore for the December quarter. In the corresponding quarter last year, the company posted a net profit of Rs 8,118 crore. Revenue of the IT firm grew 5.4 percent to Rs 42,015 crore in the October-December quarter. Here's what brokerages have to say about the IT major after the earnings:

 Bernstein : The brokerage has a 'buy' call on the stock with a target at Rs 3,450 per share. TCS is best-positioned in Bernstein’s billion-dollar playbook thesis due to the scale advantage.
Bernstein: The brokerage has a 'buy' call on the stock with a target at Rs 3,450 per share. TCS is best-positioned in Bernstein’s billion-dollar playbook thesis due to the scale advantage.
 Jefferies : The brokerage maintains a 'buy' call on the stock with a target at Rs 3,720 per share. It said that the growth in the quarter was broad-based led by verticals recovering from COVID. It also raised FY21-23 estimates by 1-3 percent.
Jefferies: The brokerage maintains a 'buy' call on the stock with a target at Rs 3,720 per share. It said that the growth in the quarter was broad-based led by verticals recovering from COVID. It also raised FY21-23 estimates by 1-3 percent.
 HSBC : The brokerage maintains a 'hold' call on the stock but raised the target to Rs 3,200 per share from Rs 3,050 earlier. It added that the firm's outlook remains promising as the company offers double-digit growth.
HSBC: The brokerage maintains a 'hold' call on the stock but raised the target to Rs 3,200 per share from Rs 3,050 earlier. It added that the firm's outlook remains promising as the company offers double-digit growth.
 Ambit : The brokerage maintains a 'sell' call on the stock but raised its target to Rs 2,610 per share from Rs 2,400 earlier.
Ambit: The brokerage maintains a 'sell' call on the stock but raised its target to Rs 2,610 per share from Rs 2,400 earlier.
 Kotak : The brokerage has a 'reduce' rating on the stock but raised its target to Rs 3,070 per share from Rs 2,920 earlier. It also raised FY21-23 EPS estimates by 2-6 percent.
Kotak: The brokerage has a 'reduce' rating on the stock but raised its target to Rs 3,070 per share from Rs 2,920 earlier. It also raised FY21-23 EPS estimates by 2-6 percent.
 CLSA : The brokerage maintains an 'outperform' call on the stock and raised its target to Rs 3,200 per share from Rs 3,070 earlier. It said that Q3 showcases strong margin defence and an optimistic outlook. Incremental moves should be guided by visibility on FY23 revenue growth, it added.
CLSA: The brokerage maintains an 'outperform' call on the stock and raised its target to Rs 3,200 per share from Rs 3,070 earlier. It said that Q3 showcases strong margin defence and an optimistic outlook. Incremental moves should be guided by visibility on FY23 revenue growth, it added.
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