Hitendra Vasudeo of stockmechanics.com is of the view that traders can buy Tata Consultancy Services (TCS) to achieve an intraday target of Rs 770.

According to Mr. Vasudeo, traders can buy the stock above Rs 754 with a stop loss of Rs 741.

Shares of the company, on Monday (June 08), closed at Rs 738.10 on the Bombay Stock Exchange (BSE). Current EPS and P/E of the stock stood at 47.99 & 16.07 respectively.
The share price has seen a 52-week high of Rs 965 and a low of Rs 418 on BSE.

Mr. Vasudeo also said that if the stock market remains on positive track, the next intraday target will be above Rs 775.

TCS, on June 05, announced that its has fixed June 17, 2009 as the record date for deciding the eligibility of stockholders entitled to get the bonus shares.

The company’s board at its meeting on April 20, 2009 had, announced a bonus issue of equity shares in the ratio of one equity share of the company of Rs 1 each for every one equity share of the company held by the company’s stockholders.

In May 2009, TCS announced that it is in search of new avenues in the life sciences and healthcare space.

Life sciences and healthcare accounted for 5.2% of TCS’s total income at the end of fiscal year 2008-09.

Tata Consultancy Services (TCS), on May 27, declared that its directors have appointed N Chandrasekaran, chief operating officer and executive director, as chief executive officer designate, with the aim that he would be nominated chief executive officer and managing director of the company with effect from October 6, 2009, after S Ramadorai retired.

Moreover, the company said that it has carried out a successful SAP ERP consolidation for ABB UK, to lessen complication, normalize business processes and systems and make better utilization of data.