Buy TCS, says Kawaljeet Saluja

Kawaljeet Saluja, ED & Hd-Research at Kotak Instl Equities told CNBC-TV18, "HCL Technologies had a good run. We are cautious on the stock purely because of the strong performance and the returns which the company has given. On top of that their growth is a lot more skewed towards one service line and we have some concerns on sustainability of the same. So, that is one stock that we are negative on in the IT space."

"I would not be able to comment on the near-term movements but Tata Consultancy Services (TCS) is one company which has executed remarkably well over the last three years. They are confident of growing better than the industry. This stock should form a part of core portfolio for many investors. If there is any correction in the stock in our view it is a good buying opportunity. We are positive on the stock and would recommend buying at the current levels," he added.