Bullish on Infosys, HCL Tech, Persistent Systems: Parag Thakkar

Parag Thakkar of HDFC Securities told CNBC-TV18, "When environment is totally uncertain, you have to go and buy blue chip companies during that time only. I am bullish on Infosys, HCL Tech and Persistent Systems in the IT space. I would look to buy on dips because I think they are cash generating machines with great management. It is just a temporary, it might continue for two or three more quarters, but I think it is a great opportunity to buy such high quality stocks." "Infosys is right now valued at 14 times on FY18 basis. HCL Tech is at 13 times, so you are getting a free cash flow yield of 7-8 percent. So, apart from domestic cyclical like Maruti Suzuki or Kotak Mahindra Bank which are again secular stories that you should buy on dips, IT is a good contra value buys," he said.