TCS continues to remain most favoured pick: Sudip Bandyopadhyay

In a chat with ET Now, Sudip Bandyopadhyay, President, Destimoney Securities, shares his views on IT sector.

ET Now: IT had a good session on account of the rub off of the weakness in currency, that is, of course, getting challenged today but what is your take on how the dynamics in the IT sector are going to move?

Sudip Bandyopadhyay: IT is an excellent sector. There is absolutely no reason to think that people will move out of IT and it will be out of favour. The economy may pick up. You have may this power, infra, cement doing good but IT will continue to provide strong steady returns. This is what we have been telling our investors for quite some time, there is absolutely no reason to move money out of IT.

TCS continues to remain our most favoured pick. We like Tech Mahindra. It is a great buy even at current level. I believe there has been little bit of correction in the price today but it is an excellent opportunity to buy. You can look at some of the midcap IT names as well but be very selective in that space. Overall, we continue to believe that IT will provide good return to investors even in the next fiscal.