\\"2014-15 will be a better than 2013-14 as per the initial talks that we have had with our clients. We expect a good growth overall -- retail, consumer goods and services, utilities, pharma, financial services, etc,\\" TCS CEO and Managing Director N Chandrasekaran told reporters.
Buoyancy in outsourcing demand and increasing confidence among clients is driving hopes for a better year for the USD 108 billion Indian IT-ITeS industry.
The country's largest software services exporter said that momentum is picking for social, mobile, analytics and cloud (SMAC) technologies, which offer a \\"multi-billion dollar opportunity\\" in revenues for the company in the next 3-5 years.
\\"When we started 2013-14, we had said it will be a good years and we will still stick to that. This has been a year in which normal business performance has been good. But for digital it has been a very good year,\\" he said.
SMAC technologies are driving enormous opportunities across sectors and the firm is poised to \\"leverage the opportunities on the back of enormous investments it has made on them,\\" he added.
While the Indian IT sector weathered effects of sluggish global economy and currency fluctuations, the proposed US Immigration Reform Bill still remains a concern until further clarity on the final Bill.
Even as rivals have taken a 'cautiously optimistic' view of the environment, TCS has remained confident of the outsourcing demand pipeline.
Meanwhile, CLSA has an outperform rating on the stock with a target price of Rs 2,300 apiece, citing solid demand environment outlook for IT and TCS hopeful of sustainability through FY15.
\\"Business size and innovation in delivery will help maintain valuations,\\" CLSA report said.
JP Morgan on Monday said it is neutral on IT major TCS, but it raised target on the stock to Rs 2,300 from Rs 2,100 apiece.
\\"TCS is trading at 15 percent premium to Infosys' target multiple of 16.5 times and exhibits better revenue growth profile than Infosys,\\" JP Morgan reasoned.
At 12:02 hours IST, the stock was trading at Rs 2,061.85, up 2.21 percent over previous close on the BSE.
(With inputs from PTI)
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