Put a hold on HCL Tech: Lancelot D'cunha

ET Now caught up with Lancelot D'cunha, CEO, Sharyans Wealth Management, and seeks views on HCL. Excerpts:

You like what you saw from HCL?

HCL Tech came out with very interesting numbers. Everything looks positive for the company at this end. However given the fact that they have probably done what they could, going forward things are going to be a little bit more difficult as far as Europe is playing out and the US markets taking a little longer to recover. Though the company has done well, I am not too bullish on the sector in particular and on HCL Tech. Maybe they will do better than the rest of the IT pack but they are in for a little bit of tough times given the volatility in Europe and US. So till we see some definite trend emerging of sustainability in earnings, I would put a hold on this stock.