Dipan Mehta, Member at BSE & NSE told CNBC-TV18, "With this kind of a correction in HCL Technologies, one would assume that the bad news has got priced in and may be you will see a further correction or a reversal once the numbers are actually announced by the company. Let us look beyond this particular quarter and the next 2-3 quarters or so and as a investor what is there to look forward to is not just HCL Tech but entire large cap IT.""Clearly the growth rates have slowed down over there, the base effect is having its own issues to deal with. Although these companies are winning large orders they have got lot of cost pressures at home as well and volume as well as pricing is under pressure. So, the dynamics of the industry are turning unfavourable and especially largecap IT which have to work really hard to get the topline growing at typically 10-12 percent or so are finding it a bit difficult," he said."I have been maintaining that one needs to be a little bit underweight in the entire largecap IT. May be Infosys is bit of an exception because they have been laggards and now they are doing some bit of a catch-up under the new management but by and large that is one sector one should stay away from," he added.
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