Pecking order: Prefer TCS, HCL Tech and Infosys, says Mayuresh Joshi

In a chat with ET Now, Mayuresh Joshi, Fund Manager, Angel Broking, talks about midcap stocks. The analyst also shares his views on IT stocks.

ET Now: What is the call on the two or three names that have just fallen off the cliff after their numbers? Here, I am talking about Symphony that comes at top of our mind. Then, there are couple of midcap IT names, which have corrected quite thick and fast. Do you track any of these names?

Mayuresh Joshi: Clearly, Symphony has run up ahead of its numbers, even in in terms of the overall market size that Symphony probably caters to. If I look at market cap of Symphony, there is a clear indication that it was running ahead of time. Hence, expensive valuations is getting captured into the price correction.

Midcap IT space probably has its own sweet problems. We are clear in out view that only top tier IT names should be something that should be looked at by long-term investors.

I am reiterating that within the top IT packs, I prefer TCS followed HCL Tech and Infosys.