2008-04-24 18:22:11 Source : CNBC-TV18
Ajay Bagga of Lotus Asset Management is of the view that one should not enter in IT space.
Bagga told CNBC-TV18, "If you look at the regional IT stocks yesterday, Acer numbers also in Taiwan were very strong. We have seen even the US techs really giving out good numbers. But on the India story, which is largely the offshoring story, there is a lot of hope that offshoring will pickup, we have seen the NASSCOM statements. We are not that convinced. We think it is better to stay on the sidelines and not enter IT. At least give it two more quarters and get some more visibility. Right now the managements are giving a hockey stick with weak near quarters and going up in the last two quarters, a lot of it contingent on a US recovery, which we are not very convinced about. We think the real economy has to really reflect all the bad news that is going through."
Ajay Bagga of Lotus Asset Management is of the view that one should not enter in IT space.
Bagga told CNBC-TV18, "If you look at the regional IT stocks yesterday, Acer numbers also in Taiwan were very strong. We have seen even the US techs really giving out good numbers. But on the India story, which is largely the offshoring story, there is a lot of hope that offshoring will pickup, we have seen the NASSCOM statements. We are not that convinced. We think it is better to stay on the sidelines and not enter IT. At least give it two more quarters and get some more visibility. Right now the managements are giving a hockey stick with weak near quarters and going up in the last two quarters, a lot of it contingent on a US recovery, which we are not very convinced about. We think the real economy has to really reflect all the bad news that is going through."
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