BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Religare maintains sell on Tata Consultancy Services
We believe Q2 revenue growth (constant currency) of TCS could be in the range of 1-2 per cent down from 3.1 per cent in Q1. A seasonally weak H2 could translate into earnings downgrade of 3-4 per cent. We believe TCS's valuation premium to Infosys is not justified as earnings expectations are not low and TCS is not immune to sector risks.