HCL Tech an outperformer in IT space says Dipan Mehta, Member- BSE/ NSE.
Mehta told CNBC-TV18, “Investors are kind of tanking up on HCL Tech and the expense of the other large cap IT companies and that’s the strategy we would also suggest. But the real story in the IT industry is in the midcap I think, right from CMC which came out with spectacular set of numbers, I think most IT companies have delivered a very good number quantitatively and also the qualitative aspects have been much better.”
He further added, “Given the kind of environment they have been operating in they have been able to navigate pretty well and deliver very good set of numbers. Even the commentary coming from them is far more positive. So, I would say that if you want to be in the IT industry then the best place continues to remain the midcap IT stocks and may be for one more quarter or so you will see this outperformance versus the industry big wigs as well as the market as a whole. But if you still want to be in large cap IT, I think HCL Tech is the right choice over there and I think all the strategies and acquisitions and all the various policies which they have incorporated over the last 2-3 years seem to be paying off and I think the stock price has been a clear out performer within the IT industry.”