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IT may have bottomed out; watch out for cement, rail stocks | The Week on Dalal Street

In this episode of The Week on Dalal Street, Anuj Singhal says the market is finding strong support at 17800 on the Nifty and this is a critical level for the market. Tune in for more

January 13, 2023 / 06:13 PM IST

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On IT, Singhal feels that valuations have moderated somewhat and given the strong order pipeline, the worst may be behind for the sector. He is bullish on mid-IT stocks in particular, and also on midcap cement shares and railway companies.

The reason for the sharp sell off in L&T Technology Services is that shareholders fear that dividends could reduce going forward as the company has forked out a third of its cash to acquire parent L&T’s Smart World and Communication (SWC) business. High gold prices are hurting Titan, but at the same time the rally in precious metals is working to the advantage of MCX.

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