Buy TCS With Stop Loss Of Rs 1185

Buy TCS With Stop Loss Of Rs 1185Technical analyst Hitendra Vasudeo has maintained 'buy' rating on Tata Consultancy Services Limited stock with targets of Rs 1197 and 1208.

According to analyst, the investors can buy the stock with a stop loss of Rs 1185.

The share price has seen a 52-week high of Rs 1221 and a low of Rs 708 on BSE.

Current EPS & P/E ratio stood at 43.15 and 27.46 respectively.

TCS recorded an increase of 30% on y-o-y basis in its consolidated net profit for the three month period ended December 2010 to Rs 23.70 billion.

Company's total income for the period ended December 2010 surged 26.3% on y-o-y basis to Rs 96.63 billion.

Mr. Dipen Shah, Senior Vice President (PCG Research), Kotak Securities, stated, "TCS results came in above expectations. The 5.7% volume growth in a seasonally lean quarter is encouraging. Improvement in operating margins was also a pleasant surprise. We expect the stock to do well."

During the three month period, the company bagged 35 new customers.

Moreover, it appended around 12,497 new staff.

The company's board announced a third interim dividend of Rs 2 per share of Rs 1 each.

In addition, TCS has become the India's second biggest company in terms of market judgment, lagging behind corporate leader RIL .