Prefer TCS, Infosys, HCL Tech: Manishi Raychaudhuri

Manishi Raychaudhuri of BNP Paribas Securities India told CNBC-TV18, "In the frontline IT services space which encompasses Infosys, HCL Technologies, Tata Consultancy Services (TCS) etc, I would possibly be a buyer after the recent correction. The recent correction in the IT space has come about because of a switch from the defensives into the high beta sector and that’s been done by domestic institutions and the foreign institutional investors (FIIs) alike."

"But having said that the fundamentals story in IT services remains intact and that centers around larger order flows from the developed markets – US and Europe and we think that this impact of increase demand has not yet been reflected adequately in the stock prices. So, despite this recent underperformance we remain positive on that space," he added.