See 15-16% upside in TCS: Ravi Menon

Ravi Menon, IT Analyst at Centrum Broking told CNBC-TV18, "It is very difficult for a PE multiple expansion from these levels because many mutual funds have concerns about getting into the highest PE stocks in any category. So I think that we cannot look at a PE expansion for TCS unless we are looking at a PE expansion for sector as a whole due to rupee deprecation or something like that or the overhang of the US immigration reform going away."

"Other than that I do not really see a trigger in terms of PE re-rating, but I do see earnings momentum for TCS. We are still positive about TCS. We think about 15-16 percent upside from here is possible," he added.