Hiren Ved's view on IT space

Hiren Ved, Director & CIO, Alchemy Capital Management share his view on IT space.

Ved told CNBC-TV18, "I think IT has been a good hedge in portfolios in the sense that there are high quality companies, the rupee depreciation is definitely helping to put a floor in terms of the earnings growth and I think that there is potential upside in the sense that at least the tier 1 companies have a lot of cash on their balance sheets and if they go out and acquire then I think that that cash will be earnings accretive. So I think there is potential for the IT companies to give a decent return and it