Prefer Wipro, HCL Tech: Sandeep Muthangi

Sandeep Muthangi, Vice President - Research, IIFL Institutional Equities advises to prefer Wipro and HCL Tech over Infosys.

Muthangi told CNBC-TV18, “I prefer companies with cheaper valuations. So I still prefer HCL Tech and Wipro in the pecking order. But in general, I think IT has a couple of tailwinds going into this year rupee being one of the factors and the slight improvement in the demand environment, etc. But Wipro and HCL Tech would still be above Infosys in my pecking order.”
Wipro touched its 52-week high Rs 462.85 and 52-week low Rs 335.10 on 05 April, 2013 and 26 October, 2012, respectively. Currently, it is trading 12.52 percent below its 52-week high and 20.83 percent above its 52-week low. Market capitalisation stands at Rs 99,724.23 crore.