Brokerage firm Macquarie maintained a bullish outlook on the IT major TCS on Wednesday.
What The Brokerage Said: Macquarie maintained an "outperform" call with a target price of ₹5,740, implying a 27% upside from its previous closing price. The research firm said TCS is growing faster than Infosys in spending rebounds.
The brokerage expects more cloud migration deals to be bundled between applications and infra services and sees TCS as better positioned than Infosys. It also expects TCS to grow faster than Infosys in FY26 and FY27.
See Also: Suzlon Peer Inox Wind Receives LoI From IGREL Renewable For 550 MW Project
TCS recently extended its partnership with Google Cloud and launched two AI-powered cybersecurity solutions designed to tackle advanced threats. The programs are designed to increase threat detection and response capabilities for businesses, this includes non-cloud environment operating businesses as well.
The company also transitioned Tata Group's Croma's commercial operations to the cloud model. Through the transition, TCS facilitated in-store mobile checkout across all Croma outlets.
In August, Sandeep Tandon's Quant Mutual Fund recently entered TCS, buying ₹560 crore worth of shares.
Price Action: Shares of TCS were down 1.06% to ₹4,457.90 on Wednesday morning.
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.