Phani Sekhar, Fund Manager, Angel Broking is of the view that one can hold Tata Consultancy Services.
Sekhar told CNBC-TV18, “Investor should hold on to TCS because in the large cap pack apart from Wipro, the rest i.e. TCS and HCL Technologies are expected to deliver better numbers in line with what they have been doing for the last four quarters. So don’t expect any disruption in that momentum.”
He further added, “Although valuations for TCS are slightly on the higher side but because of the relative valuation advantage that investors would offer TCS, especially in the wake of the recent results of Infosys, expect that valuation premium to be maintained which broadly means that TCS would continue to trade between 18-20 times. As long as they are able to deliver around 15-20 percent earnings growth the investor should be fine and should not be worried about these declines that happen from time to time.”