CK Narayan cautious on HCL Technologies

CK Narayan, MD of Growth Avenues told CNBC-TV18, "On HCL Technologies, I would remain a little bit of a sceptic because it is not just this quarter warning which has sent the stock down. If you look at the last about six months or even nine months, you would find that there have been three earlier occasions when the management said something which is not to the acceptance of the market and the market did hit down quite sharply. But then it had managed to recover, but this time around there is no recovery. It is like the man who cried wolf.""Market will only give you so many chances. But this time, the market seems to be taking the words of the management a little more seriously. I do not really see HCL Tech recovering as sharply as it used to in the past. If the numbers are not up to the mark, I would believe that it would be one of the IT stocks which would be rather severely punished, much more so than Infosys perhaps," he added.