IT space to remain outperformer: Fortune Financial

IT space is continue to remain outperformer in the market, says Abhijit Chakraborty, Fortune Financial.

Chakraborty told CNBC-TV18, "IT would continue to be an outperformer in the market. There are several other sectors which are getting directly impacted because of the global events. IT is one sector, which is favourably positioned and if we are all of the opinion that crude is a big concern and it can go up, it can also make rupee depreciate, which is going to be another added benefit for IT companies." He further added, "As far as frontline IT companies are concerned, I think movement is going to be more inclined with the market because valuations are not extremely cheap whereas business momentum is good. I think we are going to see steady performance over there." "The midcap IT stocks, some of them are really trading cheap. I could suggest Mphasis which has come off significantly, there is 30-35% correction and I think at these valuations one can look to get into the stock once again. Even Tech Mahindra for that matter, these are some of the stocks, which one can look at to buy. Among largecap TCS and Infosys obviously remain safe bets."