Don't see significant upside for TCS going forward: HDFC Sec

In an interview to CNBC-TV18, Apurva Prasad, Research Analyst at HDFC Securities discussed his take on Tata Consultancy Services’ (TCS) Q2 earnings.

We have slightly increased our margin expectations, operational trigger is something which will continue. We see closer to 25 percent. So at some stage, we feel that there is a risk to 26-28 percent margin guidance, he said.

Execution has been strong for TCS, currently neutral on the company, he added.

TCS' management commentary was more optimistic as compared to earlier quarters, said Prasad.

At current valuations, there is no significant upside for TCS going ahead, he further mentioned.

For full interview, watch accompanying video...