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Buy TCS; target of 
1185: IIFL
By siliconindia
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Tuesday, 03 May 2011, 22:12 IST
1185. According to IIFL, after the formation of 'Counter Attack Bear' pattern on 21st April 2011, TCS stock price has been trending lower unless it found a support at 1152.
TCS is an information technology (IT) company. It offers a range of IT services, outsourcing and business solutions. It also offers IT infrastructure services, business process outsourcing services, engineering and industrial services, global consulting and asset leveraged solutions. Its segments include banking, financial services and insurance; manufacturing; retail and distribution, and telecom. On June 5, 2009, TCS, through its wholly owned subsidiary, Tata Consultancy Services Canada, acquired 100 percent interest in ERI Holdings. On January 1, 2010, the company, through its wholly owned subsidiary, TCS Iberoamerica S.A., subscribed to 100 percent interest of TCS Uruguay S.A. On January 1, 2010, it purchased 100 percent interest of MGDC S.C., Mexico, through its wholly owned subsidiaries, TCS Uruguay S.A. and TCS Argentina S.A. In September 2010, Unisys Corporation sold Unisys Insurance Services Limited to Diligenta, a subsidiary of the company.
IIFL says, crossover point of 100 DMA and 50 DMA becomes a very solid support which is placed at 1,142. With the target price of 1185, if the stock is bought on Monday's closing price of 1158.40, the percentage of gain would be 2.24 percent.
