Infosys, TCS share prices hit new highs today. Should you buy at current levels?

Revealing the reason for rise in Infosys and TCS shares Ravi Singhal, Vice Chairman at GCL Securities said, “The intraday rise in Infosys and TCS stocks can be attributed to the Infy’s share buyback starting from tomorrow. This Infosys announcement is expected to put pressure on other IT giants like TCS. But, these are sentiments that are expected to evaporate in next one to two trade sessions.”

Highlighting the fundamentals that are supporting TCS and Infosys share price rally Ravi Singhal of GCL Securities said, “There are two fundamental reasons that is expected to further fuel Infosys share price rally and TCS stocks price — global spending on IT infra post Covid-19 and Indian government supporting BPO industries in India. These two are the fundamental reasons that are going to impact IT companies at larger extent.”

Speaking on the TCS, Infosys share price target Rohit Singre, Senior Technical Analyst at LKP Securities said, “For short-term perspective, one can buy TCS shares at current market price as it has given a breakout at ₹3350 mark. The one month TCS shares price target is ₹3500. However, one must maintain stop loss at ₹3250 while taking this short-term position.” Singre went on to add that Infosys share price has given a breakout at ₹1500 and one should buy Infosys shares at around ₹1500 for one month target of ₹1650 maintaining stop loss at ₹1450.

Advising investors to take positional call in Infosys and TCS shares Ravi Singhal of GCL Securities said, “One can buy both Infosys and TCS for 12 to 18th months time horizon as in next one year, IT and pharma sector is expected to outperform other sectors. One should buy Infosys shares at current levels for the positional target of ₹2100 while for the TCS, the positional target will be ₹4400.”