Religare Research recommended 'Buy' on Tata Consultancy Services with target price of Rs 2,600 against current market price Rs 2,636.05.

Commenting on the investment rationale, the stock broker said, "The company is expected to grow convergence across verticals and geographies, Japan JV consolidation to reflect in Q2FY15 with revenues of ~USD 100 million, FY15 JV revenues to be at the lower end of USD 300 million-375 million margins to remain in the 26-28% guided band as JV consolidation negates the Q1 depreciation impact (~70bps). An improvement in the demand scenario, traction in the Japan JV, and continued execution would be the key stock triggers of the company."

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