TCS upgraded by Bank of America

DATE: Jan 19th, 2009

Bank of America-Merrill Lynch upgraded TCS to buy from underperform. TCS released their earning last week and reported a 33% increase in profits. TCS was one of the outsourcing vendors which has seen a positive uptick in all their industry verticals. Bank of America recently also upgraded Infosys from underperform to buy .

Overall there seems to be a positive momentum in the outsourcing industry as it shows signs of coming out of a recession period and showing signs of growth.

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