Parag Thakkar, Head of Sales at HDFC Securities told CNBC-TV18, "I remain structurally bullish on banking, cement and IT and that has been my call since long. I would continue those themes. Banking space - after a very sharp rally in last two to three days this is not a level to buy, I will buy on dips. I will continue to buy ICICI Bank, IndusInd Bank and Federal Bank on dips.”
He further added, “In IT space after looking at US gross domestic product (GDP) data, USD 16 trillion economy growing at four percent, I would be a long term bull on IT, irrespective of fears of rupee appreciation and all. In IT space some stocks like Hexaware Technologies looks very interesting, five percent dividend yield and six percent free cash flow yield.”
“They have had R Srikrishna who has built HCL Technologies business of IMS, plus they have Basab Pradhan on board now. Things are looking well and the private equity fund is again buying from market. So HCL Technologies, Wipro and Tata Consultancy Services (TCS) are right now not to much up significantly today. I would be a long term bull on IT apart from banking and cement names," he said.
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