View: We maintain Tata Consultancy Services (TCS) as our preferred pick among the Tier-I IT Services companies. Given the recent run-up in Technology stocks, we believe that the valuations are now stretched for certain companies as we do not see a meaningful fundamental recovery in growth prospects for FY19. We continue to remain selective in our approach and maintain TCS as our preferred pick among Tier-I IT Services plays. In our opinion, the recent rally offers a good opportunity to exit some of the names such as Infosys, as its discount to TCS would widen further from the current level of 10% to the ideal range of...