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market | IST

IT space has been attractive for India, says Motilal Oswal chief

The IT stocks have been seeing a consistent rise in the market sessions, be it due to the weak currency or due to Tata Consultancy Services hitting the $100 billion market cap.
"IT space has been an attractive space for India," said Raamdeo Agrawal, Motilal Oswal's joint managing director.
HCL Tech, TCS and Wipro were among the top IT stock gainers on Monday gaining by more than a percent.
The rupee has seen a consistent weak performance, breaching the 66-mark against the US dollar in the previous market sessions. The weakening of the currency has helped the IT stocks in the stock market.
TCS, last week reported that it reached the $100 billion market cap, the first ever Indian company to reach that level.
Agrawal said that the Indian exports in the IT sector have moved upwards to $22 billion with a growth rate of 8%.
"We are seeing significant re-modelling in the IT sector," he said.
Agrawal remains optimistic on the sector even though not all the companies' earnings are released yet.