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Risk reward turning favourable for IT sector, worst related to margin challenges over now, says Ajay Garg of Equirus

Growth coupled with gross margin expectation improvement should provide support to the market in the volatile global environment, he says.

October 28, 2022 / 10:48 AM IST

Tailwinds are strong and India directionally is looking very strong and upwards, so chances of an upswing are more than potential downswing in the equity market, but it will remain volatile, Ajay Garg, Managing Director at Equirus says in an interview to Moneycontrol.

Equirus is cautiously optimistic about the IT space as it still believes that the sector is amidst the journey of enterprise clients towards cloud and digital adoption, which will continue for another 2-3 years before the growth plateaus through this initiative.

Also, the firm believes that the worst related to margin challenges is also getting behind. Hence, for the long-term investment horizon of 2-3 years, risk-reward is turning favourable for the sector, says a veteran investment banker, with over 22 years of experience in investment banking.

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