Accumulate HCL Technologies on dips: Dipen Shah

Dipen Shah of Kotak Securities told CNBC-TV18, "HCL Technologies has been one of the stellar performers over the past several quarters now. The current price is somewhere near to our target price, so we would rather wait for further declines in the stock to accumulate.”

He further added, “Overall we continue to maintain a very positive stance on the IT sector. Yesterday also the guidance for the next year came at a good 13-15 percent for the exports. And we believe this should translate to slightly higher growth for some of the industry leaders. So to that extent we continue to maintain a positive view on the sector, but specifically HCL Technologies while we are positive we believe the stock has run up quite a bit and we will wait for some declines to accumulate or buy the stock.”