TCS hits over 4-month high after Q2 results

Last Updated: Fri, Oct 13, 2017 13:09 hrs

Shares of Tata Consultancy Services Ltd (TCS) rise as much as 2.4 pct to 2,608.95 rupees, their highest since June 7.

Co posts 2 pct fall in Q2 profit on Thursday but says it expects an uptick in retail business segment in coming quarters.

Margin recovery is the key positive, CLSA analysts say, raising their target price to 2,970 rupees from 2,880 rupees.

"We expect growth recovery in insurance and retail to precede a recovery in U.S. banking," CLSA analysts say, adding that growth recovery appears more likely from Q4.

Thirteen out of 48 analysts covering the stock have "buy" or higher ratings, 23 "hold" and 12 have "sell" or lower; median target price 2,439 rupees - Thomson Reuters data.

Stock had gained about 8 pct this year as of Thursday's close.

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