te TCS Dividend LIVE TCS shares under pressure after Tata group IT major's Q4 results; Citi, Nomura, Jefferies reduce targets, here's what other brokerages say | Tata group Nifty IT stock brokerage rating, target price

TCS shares under pressure after Tata group IT major's Q4 results; Citi, Nomura, Jefferies reduce targets, here's what other brokerages say

TCS share price, dividend: Tata group IT major Tata Consultancy Services' shares succumbed to selling pressure on Thursday, a day after the company reported a slightly weak set of Q4 results and announced a final dividend of Rs 24 per share.

TCS shares under pressure after Tata group IT major's Q4 results; Citi, Nomura, Jefferies reduce targets, here's what other brokerages say
TCS share price, dividend: The Tata group IT giant's stock succumbed to selling pressure on Thursday, a day after the company reported a slightly weak set of Q4 results and declared a dividend. | Image: TCS

TCS share price, dividend: Tata group IT major Tata Consultancy Services' shares succumbed to selling pressure on Thursday, a day after the company reported a slightly weak set of Q4 results and announced a final dividend of Rs 24 per share. TCS shares dropped by as much as Rs 61.1 or 1.9 per cent to Rs 3,181.1 apiece on BSE. 

EDITOR'S TAKE | Anil Singhvi recommends buying on decline, profit booking on rise

Zee Business Managing Editor Anil Singhvi pointed out that the Tata group IT major slightly lagged expectations in terms of profit, revenue and margin, but fared marginally better on the new orders front, though "there was no silver lining in terms of new orders". 

The market wizard said the TCS management commentary was neutral, "not too good, not too bad". 

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Read more on what Anil Singhvi recommends on TCS shares after Tata group IT major's Q4 results 

What brokerages make of TCS Q4 results

Brokerage  Rating  Target
CLSA  Outperform  Rs 3,550 
Morgan Stanley  Equal-weight  Rs 3,350 
JPMorgan  Underweight  Reduced to Rs 2,700 from Rs 2,750
Jefferies  Hold  Reduced to Rs 3,375 from Rs 3,500
Citi  Sell  Reduced to Rs 3,000 from Rs 3,030
Nomura  Reduce  Reduced to Rs 2,830 from Rs 2,850
HSBC  Hold  Reduced to Rs 3,395 from Rs 3,415
Macquarie  Outperform  Rs 4,510 

ALSO READ: TCS Q4 earnings: From dividend to attrition to hiring, five key takeaways as Tata group IT giant kicks off Q4 results season 

CLSA said the quarterly performance of TCS was weak but the company's healthy order book reassured its mid-term outlook. The brokerage maintained an 'outperform' rating on the Tata group IT major with a target price of Rs 3,550. 

Morgan Stanley reduced its earnings per share (EPS) estimates for the IT company for the two financial years ending March 2025 by up to one per cent.

JPMorgan lowered its estimate on revenue by one per cent and on margin by 20 basis points.

Catch highlights of TCS Q4 results and latest updates on the Indian share market here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.

Written By: ZeeBiz WebTeam
Edited By: Sandeep Singh
Updated: Thu, Apr 13, 2023
01:06 pm
New Delhi, ZeeBiz WebDesk
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