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Systematix Report
Tata Consultancy Services Ltd. has acquired Porsche-owned IT consulting firm MHP for an enterprise value of €320 million, a move that Systematix believes is strategically significant despite a limited near-term financial impact.
Alongside the acquisition, TCS has also secured a €1.25 billion five-year services contract from Porsche, improving revenue visibility and reducing execution risks, according to the brokerage.
Following the announcement, Systematix maintained its 'Hold' rating on TCS and revised its target price to Rs 2,350, valuing the stock at 14 times September 2028 estimated earnings.
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