"InterGlobe Aviation, owner of India's top carrier IndiGo, numbers took us little bit by surprise," said Anish Damania, CEO and Head-Institutional Equities of IDFC Securities.

He said, "My analyst has downgraded InterGlobe stock from outperformer to neutral because the valuations are too high. There could be some more correction left is what our analyst expects. We would be a little cautious."

“We are probably neutral on HCL Technologies at this point of time,” he added.

“Our analyst has upgraded the view on Kotak Mahindra Bank to outperformer which shows that after HDFC, IndusInd and Kotak Mahindra Bank is becoming a more preferred stock. Good performance expected from Kotak Mahindra Bank,” added Damania.

“Information Technology sector is probably on a roll given the fact that currency is in their favour and the US growth is in their favour. We would like to play the Information Technology story through two of the large names, Infosys and Tata Consultancy Services (TCS),” he further mentioned.

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First Published:May 3, 2018 11:13 AM IST