Buy midcap IT stocks at current level: G Chokkalingam

In a chat with ET Now, G Chokkalingam, Founder, Equinomics Research & Advisory Pvt Ltd, shares his views on IT space.

ET Now: Would you buy any midcap IT stock at the current level?

G Chokkalingam: Certainly I would continue to buy stocks like Polaris, Mastek, in case of Mastek there is also added comfort in terms of the buyback which is planned up to Rs 250 so these stocks are still available in single digit.

Also, after seeing yesterday’s IMF statement that the risk has not gone for emerging economies particularly for India in terms of exchange rate pressure. I would suggest that to look for these midcap IT stocks where the near forward PEs likely to be in single digit that will be the safest bet to be in the market.