HCL Technologies to outperform, may hit Rs 1540: Ravi Menon

Ravi Menon, IT Analyst at Centrum Broking told CNBC-TV18, "I expect HCL Tech will continue to outperform. This particular quarter we are looking at 3.7 percent growth. That is the best among the Tier 1 companies. We also expect possible rerating as people come to understand that infrastructure services is not margin dilutive and it is not asset heavy."

"I think there were a lot of misperceptions about infrastructure services and concern about that being the main driver for growth. We think that is misplaced and if a rerating does happen that offers tremendous upside. Even without that we are looking at a price target of Rs 1,540, which presents a good upside of about 22 percent from current levels," Menon said.