Tech Mahindra, Wipro, MindTree top picks: Rahul Singh

Rahul Singh, Head of Equity Research of Standard Chartered Securities told CNBC-TV18, "Except TCS the rest of the pack is inexpensive relative to the other defensive sectors like pharma or consumer. So, if we look at the valuations, they are still in mid teens and in some cases even low teens."

"Apart from HCL Technologies, our top picks are Tech Mahindra, Wipro, MindTree, and midcap IT as a segment is looking ripe for an upmove, for small re-rating from here. This is because some of them are in single digit valuations and they would rise with the tide as well. So, I would say we have to look beyond TCS, Infosys, go down the chain, start with HCL Tech and end with MindTree. Those are the names I would be looking to buy."