Pick Mphasis and Persistent Systems in midcap IT space: HDFC Securities

Apurva Prasad of HDFC Securities said that they continue to maintain a constructive view on the IT sector. “Some flight to quality will follow from a near term perspective, but broadly the constructive stance on the sector remains,” he said in an interview to CNBC-TV18.

From the midcap space, Prasad said that Mphasis and Persistent Systems are their preferred picks.

On Wipro, “HDFC Securities has not changed the earnings estimate post analyst meet,” said Prasad. He added that they do have an add rating on the stock, but would prefer Infosys and HCL Technologies over Wipro.

He also recommended retail shareholders to participate in the Tata Consultancy Services (TCS) and Wipro buyback.