Technical analyst Hitesh Chotalia is bullish on Tata Consultancy Services Ltd and has recommended 'buy' rating on the stock with a target of Rs 1100.

According to analyst, the interested investors can buy the stock with a stop loss of Rs 1050.

Today, the stock of the company opened at Rs 1069 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 1107 and a low of Rs 660 on BSE.

Current EPS & P/E ratio stood at 40.36 and 26.14 respectively.

Tata Consultancy Services, which eyes to hire about 50,000 employees in 2010-11, will 'possibly appoint a same number by the coming financial year.

Company's CEO and Managing Director Mr. N. Chandrasekaran made this declaration.

Mr. Chandrasekaran stated, "We plan to increase recruitment everywhere, as the market is good across industries with a lot more business opportunity and good recovery. If you ask me whether it [the recruitment number] will double or triple, I cannot say yes. But if you ask me whether we want to double or triple, I (would) say yes."

The country's biggest software company, presently has 1,77,000 staff allover the world, comprising 12,000 local nationals from nations including Latin America, the UK, the US and China.

Generally, approximately 50,000 employees are in a foreign country whereas the rest are in India.

About future plans, Chandrasekaran stated that they would shortly make an official declaration of a novel product in SMEs.

A related launch was also plotted in BPO segment.