TCS hits a 6-year high

TCS has hit a new 52-week high today at Rs.2002.95, a 6-year high. It has come off these highs at the moment but it remains in the green, up 2%.  The stock is now up over 12% in this year.

The stock is up not just fuelled by the rupee fall but based on the rupee fall, various foreign brokerage houses continue to maintain a very bullish opinion on the stock. CLSA put out a report stating that it maintains its outperform rating on the stock with a target price of Rs 2200. CLSA has stated in the report that it expects the company to do well based on scale and innovation in delivery, which in turn should help the company maintain its sector-leading margins and premium valuations.