Cyient, NIIT Tech performed better than expected: Pankaj Pandey, ICICIdirect.com

In a chat with ET Now, Pankaj Pandey, Head-Research, ICICIdirect.com, shares his views on few stocks. Excerpts:

ET Now: Cyient came out with a fairly decent set of numbers, NIIT Tech blue hot blue cold as well and Gruh Finance the other result reaction what stood out the most for you?

Pankaj Pandey: Within these names Cyient and NIIT Tech came out with good set of numbers which were better than what we were expecting in terms of dollar revenue growth. So for example NIIT Tech we were expecting dollar revenue growth to decline by 0.7%. They have actually come out with the growth of that same proportion

From that perspective, these two numbers have come out quite decent. We would still like to believe that your tier one names are still better as of now though from a valuation perspective, mid tier IT companies have seen a fair bit of a consolidation but we would still like to believe that some of the names like Infosys might get rerated and which is where one should look at from current levels.