KPIT Tech's Q2 numbers look good, but management commentary holds the key: Parag Thakkar.

In a chat with ET Now, Parag Thakkar, Head of Institutional Sales, HDFC Securities, shares his view on KPIT Technologies post the healthy quarterly numbers by the midcap IT firm.

ET Now: What have you made of KPIT's earnings? Commentaries by largecap IT firms have not been bad, except for a Wipro. Numbers from some of the midcap IT firms have been spectacular. KPIT Technologies on Friday for instance has reported good numbers, even if they were healthy due to a low base. MindTree numbers too were not bad. What have you made of the numbers?
Parag Thakkar: KPIT Technologies has definitely reported good numbers, especially in two of its key verticals. The first is SAP, which was lagging for some time; the other being the US auto-based vertical.
So these two verticals have clearly turned around at least for now. Let us hear the management commentary to know whether it is a structural turnaround.