Prefer Infosys, HCL Technologies, TCS: Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "The cross currency growth should be quite substantial for IT companies, valuations have got beaten down because of the correction that we have seen in stock prices. And with the demand in terms of discretionary spending coming back specifically on the US client base, our take is that the earnings growth should continue for the IT companies."

"And again as a comparative basis, the return on equity for most IT companies should be much better compared to a lot of pharma players at least over the next year or two. So, the top tier names is something that we continue to like, so Infosys, HCL Tech, TCS is something we believe can have a very good performance over the next one to two years," he said.