Singal told CNBC-TV18, “For TCS, our target price is Rs 1,150 so price is quoting almost there but naturally because this company in particular has done well within the sector then definitely there is always a buying inflow because people move within this sector to a specific company and it can inch up further. Our target price is at Rs 1150 with a hold rating actually.”
He further added, “Telecom sector has been into doldrums and each stock because of its own specific reasons �" like Bharti Airtel because of its Africa assets, Idea Cellular because of 2G license cancellation issue or RComm because of its low RoE tower business has been into issues. So, these stocks are really not giving any structural follow up buy or sell. So we are not really keeping good eye on this sector from a investment or trading point.”
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