Take profits in TCS,
Jain told "I think TCS numbers have been good but do not have the outperformance required to trigger off an upgrade or a rerating in any of these stocks or sectors. So essentially the numbers that you have got have been discounted in September and if you see every four-five results that have come out, have been followed by a dip in the ticker prices, not very sharp cuts but certainly anything from 0.5% to 1.5% kind of sell-offs we have seen in stocks essentially signaling that all the news was discounted and the results are nothing new to offer."
He further added, "I certainly think that TCS could be a little on the expensive side at the projected earnings per share of 36-37, the stock is already greater than 25 times. So I don?t see too much upside potential on a fundamental basis unless TCS does a repeat of the last quarterly numbers and gives a tremendous outperformance. Only in that situation, is a hold warranted on this stock."
"I completely believe that one should take one?s profits in this stock and if one wishes to stay invested in the technology sector, then HCL would be a better play because in terms of headroom for growth and the upside potential, I think HCL Tech is better poised than TCS perhaps."
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