ICICI Securities prefers Mphasis, Cyient in midcaps, positive on Zomato

ICICI Securities prefers Mphasis and Cyient in the midcap space and Info Edge India in the internet sector, its Lead Analyst-Technology Sector, Sudheer Guntupalli, told CNBC-TV18. He also said that the firm is positive on Zomato, which it expects to turn profitable by end of FY23 or FY24.

Guntupalli expects Infosys and Tata Consultancy Services (TCS) to perform well in the current scenario.

“However, in the current scenario of Omicron and return of some of these restrictions, which means that the near-term earnings trajectory of IT sector is now looking brighter than what it was looking probably a couple of months earlier. So from that standpoint, there are stocks like Infosys and TCS which we expect to do well,” he said.