Prefer TCS, says Amit Khurana

Amit Khurana, Co- Head Equities & Head of Research at Dolat Capital Market told CNBC-TV18, "We have always preferred Tata Consultancy Services (TCS) given the kind of momentum that has been displayed. The irony in the market is that, inspite of doing so well at 6 percent sequential growth, just 30 bps miss, the company leads to an 8 percent cut on the stock price, that is quite surprising. Even the smallest of the disappointments can lead to these kind of sell-offs. So between TCS and HCL Tech, we have a preference for TCS amongst the tier I companies."

"TCS has been outperforming over the last couple of years versus Infosys, which was going through its own challenges. So we are trying to debate this internally that over the next year to year and a half, would there be situation that Infosys would start coming off the lows that it is on the utilisation and on the key metrics points and that could be a very valid trade. We are seeing some money moving into that direction already. So we haven’t taken an official stance on this as yet but I would certainly say that over the next few weeks that will be worthwhile to watch out for," he said.