Prakash Diwan of Altamount Capital Management told CNBC-TV18, "HCL Technologies itself would continue to be a very good buy or a stock to be with. If you analyse the management commentary, it sounded the most confident among all the top four or five players. It is the first in the industry, going after smaller clients rather than large contracts particularly in Europe. Europe which is getting flushed with liquidity is going to see a lot of spend on IT in terms of efficiency expectations and that is where HCL Tech has positioned itself strongly, almost like 28-30 percent of the business comes from Europe which is significant."
"So, revival in Europe is a direct correlation to their growth. I think the stock is going to be on a run. I wouldn’t be surprised if we see Rs 2050 by the time the next numbers are out. So, it is like just another three months and it could have 20-25 percent upside. So, that is definitely the best choice at this point in time from the IT pack," he said.
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