Prefer banks, defence stocks: Vijay Chopra

Vijay Chopra of enochventures.com told CNBC-TV18, "There was a time when the revenue guidance for the company was very optimistic. Now I do not see that kind of optimism and revenue growth and the growth in the number of clients and of course with the fact that Donald Trump's government is very harsh on outsourcing business and do not know what can come up tomorrow. So this is a time where we have to sit across and watch IT sector maybe from outside. Therefore, my recommendation is that there are better opportunities in the market which can get any investor a better buck."

He further added, "I like defence better than IT. Banks would offer a great opportunity to earn money at this point of time. Public sector banks are at dearth cheap valuation and with the advent of bad bank and managing all the NPAs, I think these banks can even double within a span of two-three years. So it's better to shut IT and get into banks or defence stories."