Sensex up 200 pts, Nifty reclaims 8800 after 2-day consolidation

Credit Suisse has maintained neutral call on the stock and reduced target price by 2-3 percent to Rs 2,500. "Medium-term growth can accelerate from current levels, although we remain circumspect on margins. 

 

Due to low expectations, even a small acceleration can be a decent stock trigger. But given the low visibility, so far, of this happening, we remain on the sidelines for now, We cut estimates and target price by 2-3 percent to factor in recent cautious comments on Q2 growth," the brokerage house reasons. Given that TCS has made significant investments in the past few years in platforms, new geographies and localisation, it believes 26-28 percent medium-term operating profit margin is feasible. Consistent dividend payout and even a higher payout are under the board's consideration.

 

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