India's most valued firm Tata Consultancy Services' shares surged 6.29% to hit a fresh 52-week high of Rs\u00a01,995 on the BSE on Wednesday after posting stellar quarterly results. Shares of TCS closed at a new record closing high of Rs\u00a01,979.6, up by 5.47% on the BSE. The company's stock rallied even higher on the NSE - up by 6.55% to Rs 1,998 - before closing higher by 5.06% at Rs 1,970 on Wednesday. Backed by robust Banking, Financial Services and Insurance (BFSI) growth and strong digital revenues, the IT bellwether on Tuesday reported a net profit at Rs 7,340 crore for the first quarter ended June, implying a 23.5% on-year jump.\u00a0On Wednesday, more than 2.4 crore equity shares got exchanged on NSE and BSE with about 2.29 crore equity share traded on NSE alone. TCS market-cap climbed above Rs 7.5 lakh crore mark and at the closing on Wednesday, TCS commanded an m-cap of Rs 7,57,904.74 crore. The stock of TCS was the biggest contributor to Sensex and Nifty today, with TCS shares alone adding about 103.3 points to the Sensex on closing. As the shares of TCS rallied on upbeat earnings, here's how top brokerages rate the stock: HDFC Securities: HDFC Securities has upgraded its stance from 'Neutral' earlier to 'Buy' with a target price of Rs 2,130. "Our optimism has admittedly trailed TCS\u2019 recent performance. Our (belated) upgrade derives from confidence on TCS\u2019 growth trajectory, supported by (1) Scale and growth dominance of Digital business (25% of rev and 45.5% YoY), (2) Growth visibility (deal wins), (3) Strong recovery and outlook in BFSI vertical (across geos) and NorthAm geography and (4) Continuity in efficient capital allocation (80 to 100% of FCF as payout)," HDFC Securities said in a note. Sharekhan:\u00a0Sharekhan recommended a 'Buy' on TCS stock. "TCS Q1 earnings beats profit estimates," it said in a note. "We recommend a Buy @ Tgt 2,200.00 and LTP (last traded price) 1939.50 (10-Jul-2018)." Motilal Oswal Securities: The domestic research and brokerage firm has maintained its 'neutral' stance on TCS stock with a target price of Rs 1,950. "We expect TCS to clock 10\/19% revenue\/earnings CAGRover FY18-20. The EPS CAGR in part is led by normalization that follows flattish EPS in FY18. Recent deal wins and a recovery in both BFS and Retail lend confidence in an acceleration of growth in FY19 to 10% in CC terms, from 6.6% in FY18,"\u00a0Motilal Oswal Securities said in a report. "However, we aren't building a continual of this acceleration into FY20, and thus maintain our Neutral stance on the stock at20x FY20E earnings. Our price target is INR1,950 (4% upside)," it added. Nomura: Revenue and margins were above estimate, with recovery in BFSI being a key positive, Reuters reported quoting Nomura analysts. The Reuters report said that Nomura finds valuations expensive at about 23x FY20 EPS and retains stock's rating as 'reduce' and price target of 1,440 rupees. Jefferies: According to a Reuters report, Jefferies raised y-o-y constant currency growth rates to 10-11.5% over FY 19-21 vs 8.5 pct-10 pct earlier and raised margin estimates to 9-13% for FY 19-21. Jefferies upgraded stock to 'Buy' from 'Hold' noting best growth prospects amongst Tier-1 IT firms, raises PT to 2,140 rupees from 1,600 rupees, the report added.