Prefer Infosys, HCL Tech, TCS: Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "Largely the rupee depreciation that you have seen got around quarter of 2.4 percent is going to act as a tailwind for most IT companies. It is a known fact that discretionary spending trends will be decided, so a lot of action will be determined on and what the management commentary is all about across companies. With Tech Mahindra, there is a component of wage hikes that are probably going of offset the kind of rupee depreciation that we might witness." "For Wipro, I think the growth can be one of the fastest probably for this quarter and again it will largely be in that range close to around USD 80-90 million odd the margin should sustain specifically on the global IT service side at around 20 percent odd. The IT companies will meet out a decent performance. What our pecking orders suggest is something like Infosys, HCL Tech followed by Tata Consultancy Services (TCS)," he said."If you look at the way Tata Motors has performed, the wholesale and the retail numbers have been externally encouraging. Whatever numbers we have seen so far ex-China specifically in the case of Jaguar have been extremely encouraging. Even Land Rover (JLR) sales have not disappointed so the point here is how the stock is positioned at this point of time. Clearly in terms of valuations our own take is little bit on the higher side at least from the move we have seen from levels of closed to Rs 283 that the stock witnessed few months back." "Clearly, with new launches coming through, new platforms come in through our own expectations are that specifically JLR margins should be between that 12.50 to 14.50 percent range. Even the domestic volumes have not done badly as well in the quarters gone by so with new launches expected with MHCV volumes seeing rebound you are probably expected to see some activity happening even on the standalone Indian operations. So, overall the stock is looking very promising for a long-term investors standpoint and clearly our take is that if one holds the stock clearly hold on to the stock."