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Good time to buy top IT stocks, says market expert Deepak Shenoy

Updated : April 15, 2019 07:39 PM IST

Stock market expert Deepak Shenoy discussed with CNBC-TV18's Surabhi Upadhyay and Sonia Shenoy his analysis on the fundamental side of the market as well as specific stocks and sectors.

Talking about IT companies, Shenoy said, “The top IT companies are going to perform despite the dollar not appreciating substantially largely because of volume growth and I expect that to happen only after the September or December quarter. It is a good time to be a buyer in the stocks but expect results to come in only towards the later part of this year.”

Talking about Vodafone-Idea, he said, “It is a buy if you can get renounced shares from somebody because Rs 12.50 per share, you can get a fairly big buffer from the current price. If you are able to find someone who is willing to renounce shares in your favour and you can buy them at a relatively low cost, then it makes sense to buy something like this and get yourself a 10-20-30 percent offer from the current stop. If you were an owner in the past, you have to apply to this right issue … if you don’t own the stock at all and you can’t get renounced shares, I would just not buy at the current market price.”
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