Dhirendra Tiwari positive on IT space

Dhirendra Tiwari, Head of Research Antique Institutional Equities told CNBC-TV18, "The outlook for IT stocks is still better. With the weakening rupee and improving economic environment in the United States, these are two critical factors for the performance of IT stocks. While one can argue that there is always a possibility of 5-10 percent move depending on the sectoral preference of large investors, but fundamentally speaking even the lack of opportunity elsewhere, investors would look into these companies where atleast there is growth visibility and secondly the quality is not an issue."

"Despite IT being one of the best performing sector there is a case for some correction in that. One should use those corrections to get into Tata Consultancy Services, Wipro and Tech Mahindra. So, we remain positive on that space for the time being," he said.