At 10:09 am on Monday, the BSE saw a 0.22 percent increase in TCS shares, or Rs 7.70, at Rs 3527.00 a share, and a 0.52 percent increase in Infosys stock, or Rs 7.40, at Rs 1443.70.
Shares of Infosys and Tata Consultancy Services (TCS) saw an increase on Tuesday, November 21, following the publication of divergent target prices for the IT companies’ equities by stockbroker Bernstein.
At 10:09 am on Monday, the BSE saw a 0.22 percent increase in TCS shares, or Rs 7.70, at Rs 3527.00 a share, and a 0.52 percent increase in Infosys stock, or Rs 7.40, at Rs 1443.70.
What does Bernstein have to say about TCS and Infosys?
The brokerage has increased its target share price for Infosys from Rs 1,580 to Rs 1,600 while maintaining an “outperform” rating for the company.
Bernstein has kept TCS at “outperform,” although it has lowered the target price from Rs 3,940 to Rs 3,800.
Why are TCS and Infosys making headlines?
According to reports on Monday, Infosys announced that it will provide staff with quarterly performance bonuses in November, with an average payout of 80%.
The bonus will be available to employees at position Level 6 (PL6-manager) and lower bands.
On the other hand, TCS declared on Monday that it had reached a deal with ASX, Australia’s main stock exchange, to supply the Australian market with a cutting-edge clearing and settlement platform.
“ASX will implement TCS’ flagship product TCS BaNCS for Market Infrastructure to enable the transformation,” the company said in a press release.
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