Soaring High: Infosys and TCS Surge Following Bernstein’s Game-Changing Target Revisions
Infosys, TCS share costs: Offers of Infosys and Tata Consultancy Administrations (TCS) exchanged higher on Tuesday (November 21) after brokerage Bernstein gave differentiating target costs for the IT companies’ stocks.
The stock of Infosys was higher by 0.52 percent, or Rs 7.40, at Rs 1443.70, whereas the offers of TCS were up by 0.22 percent, or Rs 7.70, at Rs 3527.00 each, on BSE at 10:09 am on Monday.
What does Bernstein say about Infosys and TCS?
The brokerage has kept up an ‘outperform’ rating on Infosys, raising its target share cost to Rs 1,600 from Rs 1,580.
Bernstein has too kept up an ‘outperform’ rating for TCS but cut the target cost to Rs 3,800 from Rs 3,940.
Why are Infosys and TCS in the news?
Infosys allegedly said on Monday that it would provide a quarterly execution reward to its representatives in November, averaging a payout of 80 percent.
Employees at position Level 6 (PL6-manager) and those at the underneath band will be qualified for the bonus.
TCS, on the other hand, declared on Monday that it had signed an agreement with Australia’s essential securities trade, ASX, to supply a next-generation clearing and settlement stage to benefit the Australian market.
“ASX will actualize TCS’ lead item, TCS BANCS, for the Advertise Foundation to empower the change,” TCS said in an articulation.
