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BUZZ-India's TCS hits over 4-month high after Q2 results
October 13, 2017 / 4:59 AM / 2 months ago

BUZZ-India's TCS hits over 4-month high after Q2 results

** Shares of Tata Consultancy Services Ltd (TCS) rise as much as 2.4 pct to 2,608.95 rupees, their highest since June 7

** Co posts 2 pct fall in Q2 profit on Thursday but says it expects an uptick in retail business segment in coming quarters

** Margin recovery is the key positive, CLSA analysts say, raising their target price to 2,970 rupees from 2,880 rupees

** “We expect growth recovery in insurance and retail to precede a recovery in U.S. banking,” CLSA analysts say, adding that growth recovery appears more likely from Q4

** Thirteen out of 48 analysts covering the stock have “buy” or higher ratings, 23 “hold” and 12 have “sell” or lower; median target price 2,439 rupees - Thomson Reuters data

** Stock had gained about 8 pct this year as of Thursday’s close

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