TCS: 2575-2595 May Be A Big Hurdle Despite Q1 EPS Beats Estimates by Around 4%; Brexit/Currency/Visa Issues May Drag

TCS may open gap up today after better than expected Q1FY17 result, published after market hours.

Technically, TCS now has to sustain above 2575-2595 zone (CMP: 2521) for an immediate target of 2620*-2665-2680* & 2700-2750.

Inability to sustain above 2575-2595-2620 area, it may fall again towards 2450-2425 & 2400-2390*-2340 in the near term.

For TCS (Consolidated):

Q1FY17EPS: 32.06 (EXPECTED: 30.75; QOQ: 32.54; YOY: 29.02)

Q1FY17 TTM EPS: 126.36

FY16 EPS: 123.38

Projected FY17 EPS: 138.75 (135.75-141.75) 

Average PE: 20

Present fair value may be around: 2530 (Q1FY17/TTM)

Projected fair value may be around: 2775 (FY-17/FWD)