TCS looks attractive at current level: Malkani

TCS is looking attractive at current levels, says Jagdish Malkani, Member- NSE/ BSE.

Malkani told CNBC-TV18, “In infra space there is a lot of carnage, but at the same time one can burrow around and there is a lot of value. Couple of days a result which I think there was nothing wrong with it, ILFS Transport you have talked about it. Rs 25 odd on a consolidated basis going at whatever 7-8 times and pedigree and growth etc. That’s just one off the top of my head, but there is a lot of value in there, but in such a market, value goes for a toss for a while.”
He further added, “We have clearly got a real dichotomy over there among the biggies with TCS singing one song and the rest on another and maybe HCL Tech and the rest being relatively gloomier and now Cognizant joining the club. I think TCS is really in a league of its own and in spite of the fact that it is richly priced etc will continue to be strong but I won’t be there out buying. There are better opportunities in other A group big cap stocks but TCS continues to be very attractive and in the midcap IT space there is a lot of tempting. NIIT with the numbers nothing wrong with the numbers- 6.7 EPS on a consolidated basis, reasonable dividends etc some other midcaps also very tantalizing, Aptech and quite a few that come off. So I think the IT space nothing wrong with it at this level.”