Like Tata Consultancy Services for long term: Jeff Chowdhry

Jeff Chowdhry, senior EM Fund Manager at LGM told CNBC-TV18, "Two to three years ago, I was talking about being bullish long-term for the pharmaceutical sector and people were saying at the time, do not do that, because the outlook particularly for America and generics, etc. was poor and they were going through a period of very disappointing earnings. But we loaded up in that point of time in the pharmaceutical sector because we thought the long-term trend of generics, outsourcing and India’s competitive advantage will continue.""We feel exactly the same way on the IT sector. as you know, and this is disclosable fact, we have been holding shelves of Tata Consultancy Services (TCS) for many years. The near-term market outlook does not look exciting, but frankly, TCS in our opinion, has a real competitive advantage. The competitive advantage that they have got, apart from the fact that it is a very well run company, is the fact that eventually, most of the business, or most of the business in the IT sector will eventually come to Indian companies. It could be TCS, it could be Infosys or it could be Wipro," he said."I like the IT sector very much. I continue to like TCS for the long-term, although the recent earnings was not brilliant. In fact, the recent quarters have not been brilliant. But, when I believe in a company for the long-term, it genuinely means that, it does not mean five months, it means 5-10 years." "Infosys is a slightly different story. Obviously, they have had a number of problems in the last few years. For me Infosys is a show me story. I need to see an area or two where Infosys comes back on track to get interested. So, we are not shareholders at the moment in that company," he added.