TS Harihar of HRBV Client Solutions told CNBC-TV18, "When we look at the next expiry what we believe is that within the IT space, especially within the largecap space, we could see HCL Tech probably managing to outperform the other IT stocks. So, probably it could be neutral to positive over the next expiry. But the other IT companies like Infosys, TCS, to an extent Wipro and Tech Mahindra could be under a lot of pressure for a variety of reasons. Infosys and TCS could be under pressure more because of that ongoing Visa dispute that is still on and Tech Mahindra and Wipro, because they have fairly large exposure to the energy and telecom space, could continue to be under pressure over the next expiry."
"So, in terms of a trade, it should be a long HCL Tech and we should either be neutral or negative on most of the other technology companies. In midcap IT we believe the pain could be much longer. You have seen Persistent System’s outlook yesterday which was quite negative. Midcap IT could really feel the pressure probably over the next couple of quarters and we would still suggest either stay off or probably be on the short side in midcap IT stocks," he said.
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