The stock of TCS, which has so far this year surged about 55%, has been expanding daily due to a share buyback offer on 6 September.
Out of 50 brokers chasing the TCS stock on Bloomberg, as many as 22 recommend a “buy” rating, 8 “sell” and 20 a “hold” rating.
In April 2018, Tata Consultancy Services became the first Indian IT company to breach $100 billion market capitalization.
Tata Consultancy Services (TCS) emerged as the second Indian company to cross ₹8 trillion in market capitalization after Reliance Industries.
The stock of TCS, which has so far this year surged about 55%, has been expanding daily due to a share buyback offer on 6 September.
The buyback will be closed on 21st of September. A fading value of the rupee has been helping the IT stocks along with TCS stock.
Out of 50 brokers chasing the TCS stock on Bloomberg, as many as 22 recommend a “buy” rating, 8 “sell” and 20 a “hold” rating.
As of 2017, Tata Consultancy Services is ranked 10th on the Fortune India 500 list. In April 2018, TCS became the first Indian IT company to breach $100 billion market capitalization.
