Cautious on IT sector, sell TCS: Nirmal Bang

Girish Pai, Head of Research at Nirmal Bang Institutional Equities told CNBC-TV18, "We initiated coverage on the IT sector three months back with a cautious view on it and a sell on Tata Consultancy Services (TCS). So, we continue to maintain our sell. Post yesterday's numbers, we have reduced our FY17 EPS numbers and on that we have a price target of Rs 2,173 which is almost like 14 percent lower than yesterday's close."

At 10:49 hrs Tata Consultancy Services was quoting at Rs 2,481.60, down Rs 39.80, or 1.58 percent. It has touched an intraday high of Rs 2,562 and an intraday low of Rs 2,474.

The company's trailing 12-month (TTM) EPS was at Rs 98.31 per share. (Jun, 2015). The stock's price-to-earnings (P/E) ratio was 25.24. The latest book value of the company is Rs 231.87 per share. At current value, the price-to-book value of the company was 10.7. The dividend yield of the company was 3.18 percent.