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.
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Infosys and TCS stock saw an increase
Infosys and TCS stock saw an increase on Tuesday, November 21, following the publication of divergent target prices for the IT companies’ stocks by brokerage 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 views does Bernstein have regarding TCS and Infosys?
The brokerage has increased its target share price for Infosys from Rs 1,580 to Rs 1,600 while maintaining a “outperform” rating for the company.
Bernstein has kept TCS at “outperform,” but 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 award employees 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,” TCS stated in a statement.