Moneycontrol
Last Updated : Jan 30, 2018 10:48 AM IST | Source: CNBC-TV18

Prefer HCL Tech in IT space; continue to be negative on Tech Mahindra: Expert

Tech Mahindra has posted a strong quarter. In an interview with CNBC-TV18, Ravi Menon of Elara shared his views and readings on the same as well as on some of its peer companies.

CNBC TV18 @moneycontrolcom

Tech Mahindra has posted a strong quarter. In an interview with CNBC-TV18, Ravi Menon of Elara shared his views and readings on the same as well as on some of its peer companies.

Tech Mahindra’s growth is led by BPO segment. its margin is significantly below largecap IT peers, he said.

We have been negative on Tech Mahindra and we continue to be negative but we have revised our price target upwards from Rs 440 per share to Rs 490 per share based on the significant cost restructuring that they have undertaken, he added.

He prefers HCL Technologies in the IT space, said Menon.

He also expects growth revival for Tata Consultancy Services (TCS) going ahead, he further mentioned.

We are also positive on Wipro, he said.

For full interview, watch accompanying video...
First Published on Jan 30, 2018 10:45 am
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