Dilip Bhat, Joint MD, Prabhudas Lilladher shares his view on IT space.
Bhat told CNBC-TV18, "The way we have seen the numbers we are just in the process of finalizing. What we are seeing is just on an overall basis may be we are seeing a 5% growth for the Nifty companies in the profit growth."
He further added, "IT will largely be the front runner or leading the growth momentum. We are not too sure how the rupee has been hedged by several companies so that really makes me a little worrisome but otherwise it is the IT which really will lead the pack and will set the tone. Going into the fourth quarter may be you will see an Infosys reporting a 40% year on year growth of course on a quarter to quarter basis it will still be a healthy 15-16% bottom-line growth. In entire IT pack even in terms of volume numbers will look reasonably good and the bottom line number largely supported by the rupee probably will look much better than that. So IT will be there. Even the autos will be a mixed bag. You will have a Hero Motors, Bajaj Auto , M&M reporting reasonably good numbers and more than sectors I would still go a little based on the stock specific line rather than going on sector wise."
