Check out: Which IT stocks to hold for long term

Watch the interview of Gaurang Shah of Geojit BNP Paribas Fin Services who shared his readings and outlook on specific stocks and sector & Balaji GK, Tradejini Financial Services answered few personal finance queries.Below is the verbatim transcript of Gaurang Shah's interview with CNBC-TV18:Wipro Form a longer-term perspective, our recommendation would definitely be to hold on to Wipro and amongst the frontline IT names, we have positive coverage. Along with Wipro, we cover Infosys, TCS and HCL Tech. A little bit of disappointment this time around in terms of numbers, but our sense is that there is plenty of opportunity, both in terms of domestic as well as overseas business. And our recommendation would be that if one is not looking at the short-term negativities, medium to long-term definitely things will evolve in terms of earnings and thereby, throw positivities on the prices of shares as well.Persistent Systems We did have a positive coverage on Persistent Systems but post the profit and margin warning, we have recommended a reduce from the portfolio on Persistent Systems. We believe that turnaround time in terms of earnings visibility is going to take a far longer kind of time horizon and we don’t expect any meaningful recovery at least for the next two-three quarters. My advice would be to make a switch over here in the midcap IT space, one can either look at Tech Mahindra or Mindtree. Tech Mahindra again had issued a profit warning but we believe that turnaround time over there is going to be lesser compared to Persistent Systems and on Mindtree a fantastic set of numbers we have already seen. On Tech Mahindra one year time horizon we have set aside as Rs 560 and on Mindtree with a one year time horizon, we have set a target of about Rs 1,450.