Gautam Chhaochharia of UBS India told CNBC-TV18, "We have been constructive on the IT sector for last six months primarily based on US recovery and also recovery in the IT services key destination markets or sectors including financial services. Infosys has a very attractive risk both in terms of what the market is factoring in and potential upside scenario despite the disappointment over the last quarter."
He further added, "In the second half we do expect a recovery in the IT services spend. And from a strategy point of view also IT services remains the best way to play the Indian rupee depreciation theme rather than pharmaceuticals. That is where we see upside to both earnings estimates as well as valuations unlike pharmaceuticals."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!
