Gautam Trivedi of Religare Capital told CNBC-TV18, "The ability of the midcaps IT stocks to gain the bigger contracts or to be even invited for the bigger contracts is obviously a problem. So the business has been gravitating towards the largecaps for the last several years, and we continue to prefer the largecaps."
"One stock, which is the largecap for now, is still for some reasons trading at midcap valuations, Tech Mahindra. It has been our top pick since the stock was around Rs 800 and we now have one of the highest target price on the street of Rs 1,600. So we would still recommend buying into the Infosys and Tech Mahindra."
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