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MARKET EYE-Despite TCS results, CLSA sticks to 'underperform'

Source : REUTERS
Last Updated: Tue, Apr 24, 2012 17:42 hrs

* India's Tata Consultancy Services shot up as much as 12.4 percent after its fiscal Q4 results, but CLSA says it will stick to its "underperform" rating on the stock. * Despite TCS' upbeat comments on Monday, CLSA says the overall demand environment is "volatile," while pricing pressures and the "elevated" costs of hiring will limit upside margins. * CLSA also says TCS' valuations of 16.5x March 2013 earnings limit any "money-making potential." * CLSA's 12-month price target of 1,160 rupees compares to TCS' latest share price of 1,190 rupees. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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  Cities   Price (10g)
  Chennai   Rs. 24500.00 (-0.33%)
  Mumbai   Rs. 25480.00 (-0.08%)
  Delhi   Rs. 25200.00 (0%)
  Kolkata   Rs. 25000.00 (0%)
  Kerala   Rs. 24400.00 (-0.41%)
  Bangalore   Rs. 24450.00 (0%)
  Hyderabad   Rs. 24580.00 (0%)
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