TCS, HCL favorites in IT sector: P Phani Sekhar

In a chat with ET Now, P Phani Shekhar, Fund Manager-PMS, Angel Broking shared his views on markets.

ET Now: What do you do with large cap IT, which one do you buy if at all?

P Phani Sekhar: We do not have much of an option but to at least maintain market weight in large cap IT because of the huge currency tailwind and more importantly the ROE and the cash low profile. From a growth perspective nothing much is happening and that is a disappointment because one expected that it would be one of the leading sectors this year.

But there again TCS and to a good extent HCL Tech might be the favourites not because they have a very superior business model but just because the growth momentum is there with them.