he country’s largest retail brokerage ICICI Direct has initiated a Buy call on the IT giant Tata Consultancy Services. The IT stock opened in green on Tuesday and is currently trading 0.5% higher at Rs 3,714 apiece.
The brokerage has set a target price of Rs 3850 on the stock, an upside of 3.7% compared to its current price and the period suggested by analysts to reach the target price is Intraday.
The investment rationale given by the brokerage is that the stock’s price has been moving above the past three weeks’ range, with a base at 100 days exponential moving average.
Besides, the Texas-based research firm Everest Group has ranked TCS as the Leader in its PEAK Matrix for Healthcare Analytics Services.
It reports that the company has the strongest product strategies compared to its peers, with key strengths in digital labs, research and innovation, blockchain, IoT, and artificial intelligence tie-ups with universities, among others.
The research firm highly appreciates the company’s focus on upskilling its talent organically through investments in talent development and academic partnerships, thereby resulting in among the least attrition rates in the industry compared to peers.