Prabodh Agrawal of IIFL told CNBC-TV18, "Although the IT sector has done well, the valuations are still reasonable. Tata Consultancy Services (TCS) is the only one which is trading at higher multiple but all the others are trading at a very reasonable valuation with the kind of earnings upgrade that we are likely to see because of the rupee depreciation. The valuations look even more attractive."
"I would still say that even at current levels for new buyers, IT space is still attractive. This segment where the earning growth is still higher than their P/E, so the P/E is less than 1 for most of these midcap and even some of the largecap companies, so we are positive," he said.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
