Stock market analyst Hitendra Vasudeo of stockmechanics.com maintained ‘Buy’ rating on Tata Consultancy Services (TCS) to achieve an intraday target of Rs 428.80.

According to Mr. Vasudeo, interested investors can buy the stock around Rs 419.70-Rs 413.30 with a strict stop loss of Rs 410.

The shares of the company, on Wednesday (July 15), closed at Rs 422.50 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 23.99 & 17.39 respectively. The share price has seen a 52-week high of Rs 437.50 and a low of Rs 209 on BSE.

Mr. Vasudeo said that if the stock markets remain positive today, then the next target for the day will be Rs 444.30.

Tata Consultancy Services (TCS), on July 06, declared that National Power Exchange, a joint venture (JV) company of NTPC, NHPC, Power Finance Corporation and the company has been allotted in-prinicipal authorization on July 1, 2009 to establish and run NPEX, the power exchange.

TCS, part provides information technology and management consultation services to organizations in more than 53 countries.

Moreover, the company said that it will invest around Rs 1,300 crore for its capex during the existing financial year.

The first three months of the year have witnessed flat growth for the IT major. In the immediate future, the expansion hinges upon the development of the economic systems.

In June 2009, TCS said it is considering e-governance projects to deal with the recession.

TCS also said that they think that the momentum will lift up now for more e-governance to perk up government services to the public.

They are already working on an e-passport system for the external affairs ministry with two pilot projects in Bangalore and Chandigarh.