Infosys and HCL Tech remain the top picks among IT largecaps, said HDFC Securities’ Varun Lohchab on Friday. Among midcap IT stocks, the investment firm prefers Mphasis and Persistent, the Head of Institutional Research at the investment firm added.
“We have been fairly positive on IT for last six to nine months,” Lohchab told CNBC-TV18.
Giving his picks among IT largecaps and midcap shares, he said, “Among the largecaps, we prefer Infosys and HCL Technologies the most. While we had also upgraded Tata Consultancy Services (TCS) around 2-3 quarters back, we still have a positive rating on TCS as well but Infosys and HCL Tech are the top picks in the largecap. In the midcap space, we like Mphasis and Persistent and all these four stocks are part of our model portfolio and we continue to be slightly overweight on IT as a space.”
Lohchab is overweight on Bharti Airtel.
“We have Bharti in our portfolio, we have been overweight that name. We believe market share trends for Bharti are extremely encouraging. We continue to be positive on Bharti.”
Housing has been a big theme which investors are playing, he added.
“We are trying to play it through various other stocks. More than financials, we are trying to play it through consumer durables and appliances where we are very positive. We have Crompton Consumer as our top pick.”
In terms of the banking sector, he said, “We have been fairly positive on banks. We are overweight banks, ICICI Bank, Axis Bank and State Bank of India (SBI) are core positions, we have significant overweight in these three names.”
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