Overweight on IT, weak currency to help sector: Mizuho Bank

Tirthankar Patnaik - India Strategist at Mizuho Bank told CNBC-TV18, "We continue to remain positive on the IT space. The sense we are getting is that the dollar growth performance by the IT sector in the first quarter was one strong move for this sector and which basically supports our thesis that the IT space is likely to perform going forward. The tailwinds that we are getting from a weak currency are likely to help even the mid tier IT companies. So we will maintain our overweight stance on the IT space though I would not like to take any specific names."At 11:14 hrs Infosys was quoting at Rs 1,159.35, up Rs 2.50, or 0.22 percent. It has touched a 52-week high of Rs 1,168.80.