With a sharp 40 per cent rally in its share price in 2018, Tata Consultancy Services (TCS) currently trades at 20 times its FY20 estimated earnings, which is valued at over 25 per cent premium to peer and another IT major – Infosys. In fact, TCS’ stock outperformed the NIFTY IT index that rose 24 per cent in 2018.
However, analysts believe the TCS’ premium valuation will persist for now, amid high growth visibility. According to Sharekhan, TCS’ management is confident of achieving double-digit revenue growth, in constant currency (CC) terms, over the ...
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