Is there an investment opportunity in PSP Projects shares?
Is this the right time to invest in the shares of PSP Projects, a company that does construction work for the government and corporate India? How much benefit will there be from investing in this stock? What targets are experts giving regarding this stock? Watch this video to know-
Shares of IT major Tata Consultancy Services tanked over 4% on Tuesday despite the company posted better-than-expected financial results for the quarter ended March 31. The scrip traded 4.15% down at Rs 3,107 at around 11.50 am (IST), while the benchmark BSE Sensex was up 0.18% at Rs 47,979.
Brokerage firm JM Financial believes that the quarterly results failed to excite despite a strong order book. “TCS’s Q4FY21 results were broadly in line with street expectations on growth and margins. However, it failed to excite as was seen through the prior 2 quarters.”
It further added that the record order booking at $9.2 billion and strong hiring keep the promise alive on FY22E rebound but 4QFY21 result print will limit case for revenue or EPS upgrades for TCS. That itself may be a case for slight disappointment given the general expectations going into the results.
JM Financial retained ‘Hold’ rating on TCS with a revised target price of Rs 3,050 (Rs 2,950 earlier).
The country’s largest software services firm on Monday reported a 14.9% growth in consolidated net profit to Rs 9,246 crore against Rs 8,049 crore in the year-ago period. The revenue of the IT major increased by 9.4% in the quarter under review to Rs 43,705 crore from Rs 39,946 crore a year ago.
On the other hand, Antique Stock Broking also retained ‘Hold’ call on TCS with in the near term on relative expensive valuations to Infosys. However, it remained constructive on TCS from medium to long term with its ability to engage with large clients for their large transformation programs.
The brokerage house has increased the target price for TCS to Rs 3,500 from Rs 3,400 earlier.