Adequately hedged for rest of the fiscal, says TCS

The IT sector has been under a lot of fire recently, not endorsed by the companies, but the market seems to fear the worst looking at the global economy.

Goldman Sachs has cut the price target for India's No. 1 software services exporters, Tata Consultancy Services, to Rs 1,115 from Rs 1,264 per share due to nagging worries about the health of the US economy.

It also lowered the price target for Infosys to Rs 3,004 per share from Rs 3,330 and Wipro to Rs 390 from Rs 440.

The BFSI sector is expected to be the epicenter of the chaos. But nothing has changed, claimed TCS managing director and chief executive officer N Chandrasekaran.