Nikhil Vora, MD & Head - Research a, IDFC Securities told CNBC-TV18, "We have been fairly positive on technology space. The demand curve globally and the global environment is actually looking up much better than what it has been in the historic past."
He further added, "US discretionary spends have started to improve. European market outsourcing has started to improve, Indian contractual values have started to increase, number of transactions have started to increase and we have got rupee which has weakened on year-on-year basis. So all in all looks to be much positive."
"If you look at the lead tier names, they are at around 15-16 times earnings with earnings compounding at least 12-15 percent. The second tier names like Persistent Systems, KPIT Technologies and so on, which are sub 10 times and growing at possibly 15-20 percent. So it seems to be a fairly decent time to be in that space and no change in view," Vora said.
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