The Economic Times

TCS-Porsche deal: Why Morgan Stanley, Citi, other brokerages still see up to 20% downside potential

TCS shares rose after the IT major signed a five-year 1.25 billion deal with Porsche AG and agreed to acquire its IT arm, MHP, for 320 million in an all-cash transaction. The acquisition, expected to close in 34 months, will deepen TCS relationship with Porsche and strengthen its AI transformation push, while expanding its presence among European automotive and industrial clients.