IT, Infra to be under pressure in near term: JRG Securities

Anand Tandon, chief executive officer, JRG Securities in an interview with CNBC-TV18 said the market movement ahead would be lead by macro factors like quantitative easing and bailout in Euro land.

Citing his views on the IT sector in the wake of Q1 earnings he said, "In the near term - of course one is expecting TCS and perhaps HCL Tech to do reasonably well." However, he said that IT sector would be under severe pressure because of premium pricing. "If the rupee again were to start to strengthen for the near term at least then that will add another currency pressure as well. So on both counts the performance on the upside has to be somewhat subdued, he added. Similarly, he believes that the capital goods space which has had a very poor last quarter compared to even previous quarter and is also showing signs of lower investment, will be under pressure for sometime now. Also Read: Indian equities have passed the 'stress test' says PN Vijay Below is the verbatim transcript of his interview with Udayan Mukherjee and Mitali Mukherjee of CNBC-TV18. Also watch the accompanying videos. Q: We have got quite of push back since levels we spoke at last. Where do you see the market headed over the near term now? A: For the last three or four days it