Buy Infosys, pick Wipro, HCL Tech: Harendra Kumar

Harendra Kumar of Elara Capital told CNBC-TV18, "The IT pack valuations are cheaper, the price to earnings (PEs) are not going to move higher because most of the earning is coming on because of rupee depreciation. But the one trade we see is reduced is Tata Consultancy Services (TCS) and probably start buying into Infosys. The reason is because the PE disparity is going to shut to narrow and converge over the course of the year, apart from Wipro or HCL Technologies which are the two picks for us. So the big trade is to buy Infosys and reduce exposure to TCS."

At 10:13 hrs Infosys was quoting at Rs 937.50, up Rs 0.50, or 0.05 percent. It has touched an intraday high of Rs 944.95 and an intraday low of Rs 937.50.

Tata Consultancy Services was quoting at Rs 2,489.55, up Rs 17.65, or 0.71 percent. It has touched an intraday high of Rs 2,499.35 and an intraday low of Rs 2,480.