Pathik Gandotra, Partner of Dron Capital Advisors told CNBC-TV18, "IT and FMCG can give up some ground tactically, but IT is the place to be. We are of the opinion that there is an economic recovery happening in the US which will lead to rise in discretionary spends and strong dollar revenue growth for these IT companies and that is the reason for the re-rating."
"Rupee has been a push up for these stocks to go up significantly in the last three months, but the big story that the economic recovery in the US and stability in the EU. So, I would buy IT stocks on corrections," he adds.
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!
