KR Bharat of Advent Advisors told CNBC-TV18, "I am still bullish on IT sector, because regardless of which way you look at the rupee now is probably reasonably close to its fair level. At Rs 68 it was clearly undervalued and the 50s were doing the rupee a favour. In their own hearts the regulators will not be too unhappy with where we are today, 62 per dollar on the rupee."
"Going forward I do not see the rupee appreciating remarkably from here and therefore I think it is going to be a reasonably good period for the IT sector, particularly given the fact that you are beginning to see evidence of recovery in US and in parts of Europe as well. So I would tend to be positive on that sector," Bharat said.
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