TCS gains; analysts more confident after backing FY15 outlook

Reuters market Eye - Tata Consultancy Services Ltd's shares gain 0.3 percent after the company on Monday reiterated its revenue and margin outlook for FY 2015.

Analysts say, this helps in light of the recent cut in outlook from Cognizant Technology Solutions Corp and Accenture Plc .

It will give them confidence to roll over current valuation multiples for TCS' to expected FY17 earnings, analysts add.

TCS is currently trading at 22 times of 12-month forward earnings, Thomson Reuters data shows.

(Reporting Abhishek Vishnoi)