Foreign brokerage advises to buy shares of Tata Group's!!!
The stock of Tata Consultancy Services, the country's largest IT company of Tata Group, can give bumper returns to investors in the coming days. According to foreign brokerage house Macquarie, the stock can give up to 28 percent return to its shareholders in the coming days. Macquarie has said in its report that the share of TCS can go up to Rs 5740, which closed at Rs 4490 in the last closing session. That is, from this level, the stock can rise by Rs 1250 or about 28 percent. Macquarie has included the stock of tcs in its Macquarie Marquee idea List.
Macquarie had earlier given a target of Rs 4750 for the stock, which has been increased to Rs 5740. This is the first time that a brokerage house has given a target price of above Rs 5000 for tcs stock. The brokerage house believes that tcs stock will outperform from the current level. After this report of Macquarie, tcs stock has seen a rise in the trading session of tuesday 20 august 2024 and the stock is trading at Rs 4524 with a jump of 0.76 percent. Earlier during the day's trade, the stock had reached an all-time high of Rs 4565.
The brokerage house said in its report, TCS's performance in Artificial Intelligence is very strong. According to the report, tcs spends 1 to 1.2 percent of its total revenue on research and development, but in figures it is $ 300 million annually. According to the brokerage house, due to AI, modernization will be possible at a very low cost in an impeccable manner and due to this, the company will also be able to increase the demand in the medium term.
TCS stock has given a return of about 35 percent to its shareholders in the last one year, while NSE's Nifty has gained only 26 percent. The stock has gained about 20 percent in 2024. In terms of market cap, tcs is the second most valuable company in the country after mukesh Ambani's reliance Industries. In Tuesday's trading session, TCS's market cap has reached Rs 16.37 lakh crore. Reliance's market cap is close to Rs 20.24 lakh crore.
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