HCL Tech is a best bet in IT space, says Saurabh Mukherjea, Head of Equities, Ambit Capital.
Mukherjea told CNBC-TV18, "In TCS and Wipro 's case we have stated for a long time that both in strategy and what's happening in the boardrooms we have seen concerns I think both of these companies appear to be at strategic crossroads with no clear direction emerging."
He further added, "HCL Tech under Vineet Nayar's leadership over the last two years has forced clear strategic path and a path which makes great deal of sense to us, they are focused on remote infrastructure management; they are focused on using their AXON acquisition to great effect in the Western world, they have hired sensibly in the Western world. So amongst the big four IT stocks both on valuation grounds and on fundamental high quality sensible strategy grounds HCL Tech seems to us to stand out by some distance as the most compelling play. There are lingering concerns in the market about governance accounting and so on. We don't share those concerns. We believe this company will over the next couple of years show itself to be the best amongst the big four IT plays in the country."
