Like HCL Tech, TCS, says Standard Chartered Securities

Rahul Singh, Head of Equity Research of Standard Chartered Securities told CNBC-TV18, “In IT services, select stocks still definitely look good, so we like HCL Technologies and Tata Consultancy Services (TCS).“

He further said, “We like telecom. Overall, the results have been better-than-expected and the trend there will get better. One might actually see upgrade cycle starting in that sector earlier than the other sectors. These are the two sectors one can clearly highlight apart from one of cases like Maruti Suzuki and so on.”

“So, there have been bright spots in this result season. There have been some disappointments but overall the extent of positive surprises has been more than the extent of negative surprise,” Singh added.