Fri Jan 10 14:54:45 UTC 2025: ## TCS Shares Surge on Strong Q3 Results and Bullish Brokerage Forecasts

**Mumbai, India** – Tata Consultancy Services (TCS) shares soared 6 percent on Friday, reaching an intraday high of ₹4,297, driven by robust third-quarter results and overwhelmingly positive assessments from leading brokerages. The IT giant announced a 5.5 percent rise in net profit to ₹12,380 crore for the third quarter of fiscal year 2024-25, along with a dividend payout of ₹76 per share, including a special dividend of ₹66.

While revenue slightly missed market expectations, strong deal wins and positive management commentary fueled bullish sentiment. Several brokerages upgraded their target prices and maintained buy ratings, citing the company’s attractive valuation compared to peers like Infosys and HCL.

Nuvama Institutional Equities, for instance, highlighted the positive management outlook, predicting increased growth in calendar year 2025 due to a resurgence in discretionary spending. They maintained a “buy” recommendation, raising their target price to ₹5,200. Motilal Oswal also reiterated a “buy” rating, projecting a 24 percent upside potential with a target price of ₹5,000. They emphasized TCS’s strong position for medium-term growth due to its substantial order book and exposure to long-term projects.

Not all brokerages shared the same enthusiasm. Nomura maintained a “neutral” stance, albeit with a slightly reduced target price of ₹4,020. However, Jefferies, CLSA, and JM Financial all assigned “buy” ratings, with target prices ranging from ₹4,546 to ₹4,760. HSBC issued a “hold” rating at a target price of ₹4,540. Emkay Global, while acknowledging slightly weaker-than-expected operating performance, retained an “add” rating with a target price of ₹4,500.

The Nifty IT index also experienced a significant boost, gaining 3.44 percent to close at 44,609.50, with other major IT stocks like Tech Mahindra, HCL Technologies, Infosys, and Wipro also performing strongly. TCS shares ultimately closed at ₹4,265 on both the NSE and BSE, marking a 5.6 percent increase. The surge reflects investor confidence in TCS’s future growth prospects amidst a positive industry outlook.

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