Jagannadham Thununguntla of SMC Global Securities told CNBC-TV18, "If we see in last one year, the midcap IT stocks like KPIT Technologies , Hexaware or Mindtree have been phenomenal wealth creators. However, in the short-term considering any disappointment is bound to have lots of profit booking."
He further added, "If one is a very long-term investor I still suggest holding on. The IT story is still unfolding, a long way to go. However, if one has a medium-term perspective again it makes sense to move on to something else."
On January 23, 2014 KPIT Technologies closed at Rs 158.50, down Rs 25.40, or 13.81 percent.
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