Prefer Wipro, HCL Tech: Rajat Rajgarhia

Prefer Wipro and HCL Technologies, says Rajat Rajgarhia, Head of Research at Motilal Oswal Securities.

Rajgarhia told CNBC-TV18, "I think technology as a whole is right now benefiting because people are lot more worried about the domestic space and as a result given that you have 53 currency it is advisable to hide into IT. Within that the two best performing numbers have been TCS and HCL, so very obviously people are getting into those names."
He further added, "But somewhere Wipro which has taken a severe hammering over the last one week or so again starts looking good because we think they have been making some of the right investments just at the revenues of the margins from some of the investments have seen some delay because of the environment, otherwise now they trade at 15 times earnings current year, very strong balance sheet and in the second half of this year as growth picks up for them this is a stock which can again outperform the market. So within the IT pack, Wipro and HCL Tech that we would advice people to be in right now."