The current fiscal year FY2015 brought in overall optimism for the Indian IT-BPM (business process management) industry and is expected to meet guidance for the year in constant currency, industry body  NASSCOM said.

NASSCOM expects aggregate industry revenues for FY2015 are estimated at USD 146 billion. FY2015 is expected to see the export market at USD 100 billion, recording a 13.1% growth in constant currency over last year.

Commenting on the same, Sarabjit Kour Nangra, VP research, IT, Angel Broking on TCS Update, said, ''TCS is confident of beating the NASSCOM's FY2016 guidance of 12-14%, driven by growth across markets and will be able to beat 13.1 percent growth guidance for FY2015, as well.

This is in line with the earlier guidance of the company to beat the NASSCOM's projections. Our sales growth estimates for TCS's FY2015 and FY2016, are at 16.3% and 14% respectively. At CMP the stock trades at 22.4xFY2015 and 19.9xFY2016E earnings, we recommend a buy with a price target price of Rs. 2,833.''

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