Buy TCS, Infosys from IT space: Ambareesh Baliga

Ambareesh Baliga of Edelweiss Financial Services told CNBC-TV18, "I think there could be a bit more or a correction left and I really do not expect the IT space to outperform going ahead, at least in the foreseeable next two to three quarters, because it is going to be the India story which is going to play out and not the services story. So, one can still wait, but then if one is buying into IT, it is Tata Consultancy Services (TCS) and Infosys."TCS's trailing 12-month (TTM) EPS was at Rs 99.72 per share. (Sep, 2015). The stock's price-to-earnings (P/E) ratio was 24.76. The latest book value of the company is Rs 230.50 per share. At current value, the price-to-book value of the company was 10.71. The dividend yield of the company was 3.2 percent.