Nomura recommended Buy on Tata Consultancy Services for target Rs 2700 against current market price Rs 2643.

Commenting on the investment rationale stock broker said,"Management indicated that there was no change to the company's revenue growth outlook for FY15F. In 2Q growth rates across verticals are likely to see convergence. BFS will see better growth vs last quarter, while in Insurance the softness will continue. Growth rates at smaller verticals like media, travel, life sciences which had seen strong growth in 1Q is likely to see moderation in 2Q. Retail vertical will grow in line with the company average in 2Q.

We see upside possibilities to FY15F revenue growth if India performs well in 2H (in line with seasonality). We continue to believe TCS remains best positioned to benefit from the demand upturn both from a cost efficiency as well as discretionary perspective."

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