IT at attractive valuations says JP Sinha

JP Sinha of Mangal Keshav is of the view that IT companies are available at quite attractive valuations.

Sinha told CNBCTV18, "The depreciation of rupee will obviously add some benefit and that is why one should go for IT or textile. It is very short-lived kind of environment. We are not seeing rupee to continue to depreciate from the current levels. So to that extent it is only a short-term phenomenon on which you cannot count."

He further added, "Having said that purely on the IT companies we find that the valuations are quite attractive, so purely on fundamentals we find it more attractive rather than looking purely at rupee which is sliding at this point in time."