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SENSEX
NIFTY 50
NIFTY MIDCAP 100
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Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD APR 05
MCX SILVER MAR 05
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USD/INR
EUR/INR
GBP/INR
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Remain positive on market, prefer Infosys over TCS, says MOFSL's Siddhartha Khemka

Updated : January 18, 2021 03:52 PM IST

A healthy correction is seen in the market and this could last for some time even as the overall structure remains positive, said Siddhartha Khemka, Head of Retail Research, Broking and Distribution at Motilal Oswal Financial Services on Monday. Among IT stocks, Infosys and HCL Tech remain the top pick among largecaps, Khemka said, while adding that they prefer Infosys over market leader Tata Consultancy Services (TCS) due to valuations.

“Market is seeing a healthy correction, this could last for some time. The overall structure of the market continues to remain positive and any correction could be looked upon as an opportunity for the investors to get into,” he told CNBC-TV18.

Khemka said that the IT pack has reported strong results.

“In expectation of strong numbers, the entire IT pack has seen a sharp run-up. Although valuations are still not very high, some amount of profit booking is getting in the space as well,” he said.

“Our preferred pick within the IT space is Infosys followed by HCL Technologies in the tier-I space. Tata Consultancy Services (TCS) continues to remain a market leader, however, valuations are on the higher side and hence we prefer Infosys over TCS,” he said.

Khemka expects Budget 2021 to provide a lot of impetus to the real estate sector. “That should help the housing finance companies (HFCs) as well,” he said.

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Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.

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