Selective exposure to IT stocks could be a good bet at a time the overall domestic outlook does not look encouraging
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PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
Highlights IT sector had huge underperformance but started outperforming in line with global markets recently Most western markets are oversold and could see technical bounce-back in 2023 and IT could follow Despite macro headwinds, performance of IT companies decent so far Composition of order changing, waning supply crunch a positive Technology spending not going away and a secular multi-year opportunity Domestic headwinds galore, IT may be a good place to hide The year 2022 was volatile yet decent for the Indian markets as the benchmark Nifty…
