KPIT, Tech Mahindra, MindTree top picks in IT space: Diwan

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KPIT, Tech Mahindra, MindTree top picks in IT space: Diwan

KPIT, Tech Mahindra and MindTree are the top picks in IT space, says Prakash Diwan, Asit C Mehta Investment.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » ALSO READ See previous views by Prakash Diwan See what other Experts & Brokerages are saying about KPIT Cummins See messages about KPIT Cummins

KPIT , Tech Mahindra and MindTree are the top picks in IT space, says Prakash Diwan, Asit C Mehta Investment.

Diwan told CNBC-TV18, "We have seen the largecap IT players run up quite sharply. Inspite of the rupee appreciation we have not seen that kind of a downward correction that should have come into the prices. So where as the midcap selectively if you look at, some of them like KPIT, Tech Mahindra, to some extent even MindTree, they are quite promising. In fact there is still enough steam out there. The results have been pretty good from most of them and I think they will start playing catch up soon."

He further added, "If somebody were looking at a late upside kind of a trade, these are the stock that you could look at. So primarily it's KPIT, Tech Mahindra and MindTree that particularly we like out of that pack."

"I would focus my attention on some of the long banking lenders. They were also beaten down along with the banks but they haven't yet started coming up as we see the banks do. So I would look at something like an L&T Finance, M&M Financial maybe SREI Infrastructure some of these smaller promising long banking lenders where they look quite right for a picking."