Prefer laregcap IT stocks; Infosys, HCL Tech top picks: Ambareesh Baliga
There would be pain at least over the next three to four quarters and, thus, investors should focus only on largecap IT firms, says Baliga.
Updated:
In a chat with ET Now, market expert Ambareesh Baliga shares his view on IT stocks.
ET Now: Is an investment case in midcap IT a no-no right now? Would you look at largecap IT stocks?
Ambareesh Baliga: Absolutely. When most managements including that of TCS’s had come out and given a warning sometime back, there was a clear consensus that all the things were not okay as far as the IT space is concerned. There would be pain at least over the next three to four quarters.
From that point of view, if you have to invest in IT, you should be looking at IT largecaps. I would place my bets only on stocks like Infosys, HCL Tech and TCS.
ET Now: Is an investment case in midcap IT a no-no right now? Would you look at largecap IT stocks?
Ambareesh Baliga: Absolutely. When most managements including that of TCS’s had come out and given a warning sometime back, there was a clear consensus that all the things were not okay as far as the IT space is concerned. There would be pain at least over the next three to four quarters.
From that point of view, if you have to invest in IT, you should be looking at IT largecaps. I would place my bets only on stocks like Infosys, HCL Tech and TCS.
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