Jan 14, 2017 10:50 AM IST IST | Source: Moneycontrol.com
US immigration policy not a threat to Indian IT cos: Morningstar
"Some of the IT outsourcing companies right now are looking attractive because the stocks have taken a hit as Trump spoke negatively about immigration in the US," Heather Brilliant, Chief Executive Officer, Morningstar Australasia said.
The US immigration policy announced by President-elect Donald Trump should not a considered as a threat for the IT companies, said Heather Brilliant, Chief Executive Officer, Morningstar Australasia.
She further added currently Indian IT companies are looking attractive as valuations have taken a hit due to Trump's US immigration policy.
"Some of the IT outsourcing companies right now are looking attractive because the stocks have taken a hit as Trump spoke negatively about the immigration in the US," Brilliant said.
"We don't see immigration policy is a threat (to Indian IT companies) as they are doing value added work of IT outsourcing and the risk is overblown," she added.
She particularly mentioned that Infosys is trading at a discount and should be looked at for investments.
Brilliant is also upbeat on Indian pharma sector in the long run and believes the USFDA warning letters to these companies are short term issues and will get resolved soon.
She also believes the recent demonetisation move in India should aid the e-commerce sector as country will move towards more electronic mode of payments.
She sounded positive on the Indian economy saying, "India is a very interesting economy and we will continue to look at investment ideas. As the economy adjusts to the currency ban there is lot of potential in India."