Mphasis BFL, NIIT Technologies dark horses in IT space: Mehraboon Irani

Mehraboon Irani, Principal & Head-Pvt Client Group Business, Nirmal Bang Securities, talks to ET Now on various stocks.

What is the call on IT?

Honestly I would continue to have a front line IT stock in my portfolio. As I have always maintained that there is rupee depreciation and we need to understand that every brokerage house is possibly putting rupee vis-à-vis dollar anything between 52-53 as an average price for the entire year and that is much better than what it was last year.

So you need to play this company move and therefore have an IT stock in your portfolio and I have been maintaining that my preferred bet in this sector remains Infosys as No. 1 and TCS No. 2 but there should be some midcap stock.

The dark horse in this particular pack would be closer fight in fact between Mphasis BFL and NIIT Technologies purely because of the strength in the balance sheet of the latter and the first one because of the remarks coming from the management stating that they are possibly going to utilise the cash in some way or the other to create value for shareholders. I would take Mphasis BFL as a dark horse, NIIT Technologies as safe bets among the midcaps in the IT pack.