Mphasis looking for acquisition: Alok Nanavaty

In a chat with ET Now, Alok Nanavaty, Director, Centrum Broking Pvt. Ltd., shares his investment ideas.

What is the call on midcap IT stocks?

In Patni's case, the open offer is obviously what is going to attract some level of investor attention but in the case of Mphasis, it has been on the look for an acquisition. I am not sure how far they have gone along with it or how close they are to actually closing on a deal. Given a fairly good balance sheet position, it would be in the interest of even the midcap IT counters to go ahead and get into new verticals as well as new opportunities in inorganic growth.