According to Sandeep Muthangi of IIFL Institutional, one may prefer Tech Mahindra and HCL Technologies from the IT space.
Sandeep Muthangi of IIFL Institutional told CNBC-TV18, " Infosys management has indicated about a very gloomy quarter. If the concern was only specific to one quarter then obviously this is a good time to buy but the problem with the commentary of the management is a lot of things seem to have more medium-term or structural impact say for instance some of the worries that they have said about sporadic RAM down or continued slowdown in the vertical like high tech etc are concerns."
"The other problem is that most of the other IT companies are still commenting about a stable to improving demand environment. So this is a company specific problem and this is not a quarter specific problems and one has to really wait and see what the results commentary is and how severe the problem is. One should have a wait and watch approach and at the same time there are other companies that are cheaper, I would still prefer Tech Mahindra or HCL Technologies given the cheaper valuations and a fairly consistent performance," he added.
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