MARKET EYE-India's TCS gains on Morgan Stanley rating upgrade

Wed Dec 19, 2012 11:08am IST

Related Topics

Stocks

   

* Shares in Tata Consultancy Services gain 1.8 percent
after Morgan Stanley upgraded the stock to 'overweight' from
'equal-weight' and raised its target price on the stock to 1,415
rupees from 1,225 rupees.
* Morgan Stanley says IT spending could be stable in 2013 and
that it does not expect deal flow and volumes to be disrupted
despite uncertainty in Europe. 
* The investment bank says fiscal 2014 revenue can recover,
noting "revenue growth trends in the industry are not in a
secular decline."
* The investment bank also says a recent correction in TCS's
share price creates an opportunity for medium- to long-term
investors. 
* TCS stock is down 7.9 percent in December as of Tuesday's
close compared with a 0.6 percent return in India's benchmark
index in the same period.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net;
aradhana.aravindan@thomsonreuters.com /;
aradhana.aravindan.reuters.com@reuters.net)
FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage