Apurva Shah underweight on IT sector

Apurva Shah, Head Investment Research, BNP Paribas Asset Management is underweight on the IT sector.

Shah told CNBC-TV18, "We have been underweight on IT and clearly the rupee is helping to some extent but on the whole the growth that we are observing or even that is expected in the next few quarters or even the margins, none of this is really exciting us for this sector. So overall we remain underweight. We will wait for some improvement in the growth prospects, especially volume growth over the next couple of quarters before we think of turning constrictive on this sector."