Rupee fall to bring interest back in IT, pharma: Centrum

Despite the recent run up in the market, IT has been an underperformer when looked at from a short-term perspective, says Kunj Bansal of Centrum Wealth Management. But with rupee depreciating over the past two-three days, interest in export-oriented sectors such as IT and pharma may make a comeback.

There is a possibility of interest shifting from high-beta stocks to low-beta stocks which is where again defensives will come into play. He sees good opportunity in mid cap and large cap IT companies. He is bullish on Tech Mahindra.

However, he warns that while rupee has depreciated in the past few days, but considering the fact that last year this time rupee was trading far lower, year-on-year numbers of some of the export-oriented companies can get affected by the rupee-dollar. But given the fundamentals and valuations, he likes Torrent Pharma in the pharma space.