Prefer Hexaware Tech to Mahindra Satyam: Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research, SMC Global Securities Limited is of the view that prefer Hexaware Technologies to Mahindra Satyam

Thununguntla told CNBV-TV18, “At this moment one may not be able to make any big money in Mahindra Satyam because I am sure it is going to take much longer time to get that Rs 250. I think that is almost at this moment is appearing to be a daunting task for the company and the stock to really reach to that level. Having said that one can use any of the bounces because today IT has a severe fall but I am sure at some point they will be short covering or some technical bounce. At that moment one can probably use it to exit. If one has to choose Hexaware is appearing to be a slightly better choice at this moment than Mahindra Satyam because Hexaware is trading at much reasonable valuations. If given a choice around Rs 80-90 levels Hexaware is a lot better choice.”