Manishi Raychaudhuri overweight on Infosys, TCS, HCL Tech

Manishi Raychaudhuri of BNP Paribas Securities told CNBC-TV18, "IT would definitely be part of the core portfolio and not only that, we are significantly overweight IT in our India model portfolio. The real impetus to IT earnings would come from demand improvement particularly in the United States. That is yet to be captured in the share price performance which we think we would get to see in the first half of 2014."

"As far as stocks are concerned we are significantly overweight on Infosys, Tata Consultancy Services (TCS) and HCL Technologies. We also have exposure to one of the midcap names which is Persistent Systems. That would really be the core portfolio of IT that we have in the model portfolio," he said.