New Delhi, July 15 -- Brokerage firm Kotak Institutional Equities has added Tata Consultancy Services (TCS), India's largest IT services company, and SBI Life Insurance Company to its model portfolio.

Both TCS and SBI Life have been assigned a weight of 150 basis points (bps) in the brokerage's model portfolio.

Kotak said SBI Life Insurance Company shares are currently trading at 1.6x FY2028 estimated embedded value (EV) and offers an upside potential of around 35% to its 12-month fair value target of Rs.2,500 per share.

TCS shares, meanwhile, are trading at 13x one-year forward earnings per share (EPS) and offer an estimated 18% upside to its 12-month fair value target of Rs.2,450.

The brokerage, however, clarified that TCS's inclusi...