Rahul Singh bullish on HCL Tech, Tech Mahindra

Rahul Singh, Head of Equity Research, Standard Chartered Securities is bullish on HCL Tech and Tech Mahindra.

Singh told CNBC-TV18, "It might but we have to go with the companies which are gaining market share within the sector. So when I say overweight IT services it doesn’t mean you go and buy a basket blindly. We have been very bullish on HCL Tech and Tech Mahindra. We stay bullish there because they are also gaining market share, they are getting into bigger deals and there is an inherent bottom up kind of thesis there which is playing out really well which protects them from any macro risk."
He further added, "The other thing you have to remember is that any macro risk would also mean some kind of a risk off which will have its implication on rupee. So in a way in a very crocked sense it provides some kind of earning support to the IT services and even pharma companies to some extent because the rupee would no longer look as strong or as stable as it has looked over the last six-eight months."