Shares of Tata Consultancy Services (TCS) gained momentum today, rising 0.66% to trade at ₹4,066.40. Global brokerage Morgan Stanley reiterated its “Overweight” rating on the stock, setting a target price of ₹4,660, indicating a potential upside of 15.3% from the current levels.
The brokerage cited TCS’s commitment to achieving its EBIT margin target of 26-28%, driven by strategic initiatives like improving utilization, refining the employee pyramid, and enhancing revenue productivity. While the management remains cautious on broader trends, pockets of strength in demand continue to bolster investor confidence in the IT giant.
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