Dilip Bhat of Prabhudas Lilladher told CNBC-TV18, "As far as Cognizant is concerned, one thing is pretty sure that they have been slightly ahead of the pack except for one or two quarters where they really lowered the guidance. But I think they have been doing pretty well. But having said that, I am not too sure whether they said it was in steady state currency or whether it was just an actual earnings per share (EPS) that they have given the guidance. That also needs to be seen. But by and large the IT will still continue to look pretty good.""Especially amidst this kind of an environment where the prices have really run ahead of the intrinsic value on expectations of future growth and performance, IT still stands out as one of the few sectors where you can still expect that they are going to generate free cash. They are still going to generate returns in excess of 20 percent and they are not really gone anywhere in the last 12 months or so. So, Infosys, HCL Technologies and Tata Consultancy Services probably will still be the one to chase in the front-line," he said.
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