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May 02, 2012, 11.19 AM IST
Expect 10% upside in TCS, says TS Harihar, Co-Head Institutional Derivatives, ICICI Securities.
Expect 10% upside in TCS , says TS Harihar, Co-Head Institutional Derivatives, ICICI Securities.
Harihar told CNBC-TV18, "I think the broad concern seems to be among the lot of traders that valuations of whole lot of IT companies have stretched, especially if you look at the companies that have been trading positively over the last one, one and half months like HCL Tech and TCS." He further added, "TCS from a trading perspective probably still looks good for another 5-10%, but I think Infosys would have a lot of long-term questions to answer. Unless these questions are resolved I would believe that any rise would be an opportunity to sell the stock. But TCS, yes from a trading perspective it still looks like it could have another 10% upside. HCL Tech I think has already shot up quite a bit from Rs 395 to about Rs 515 and I think at these prices it does look fairly priced."
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