Hold HCL Tech, advises Devang Mehta

Devang Mehta of Anand Rathi Financial Services told CNBC-TV18, "Currently we have a hold rating on HCL Technologies. We have seen a tremendous trajectory for the earnings of the company as well as all the business verticals coming to the fore and performing the way that the company has done in the past six or eight quarters."

"We feel that at this point of time it is a little richly valued and we have a hold recommendation. So at any dip in the stock price around 5-8 percent dip would be a good buying opportunity. Wipro remains the top pick among the largecap stocks in the IT universe," he said.