Kawaljeet Saluja -Executive Director & Head - Research at Kotak Institutional Equities told CNBC-TV18, "The relative valuations of Tata Consultancy Services (TCS) versus Infosys now capture relatively lower growth expectation of the street. I think at 15 percent premium the valuations will sustain, I don’t think the street is paying a huge premium to TCS anymore. So, if they deliver in line with NASSCOM then the returns which you will make is pretty much in line with the earnings growth which is like 12-13 percent from the current level."
"As far as our rating is concerned Infosys and Tech Mahindra are our top picks," he added.
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