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videos | IST

‘Re-enter on correction’: Envision’s Nilesh Shah advises caution on IT stocks

With IT stocks being one of the best performers in the market, thanks to the digitisation wave brought on by COVID-19, Nilesh Shah of Envision Capital says investors need to be cautious now.
“There has been a re-rating of the IT sector and it is now trading at premium valuations to their historical averages,” he said.
Shah added that to sustain these valuations, Indian IT services companies will need to grow in double digits, which is unlikely unless they have the tailwind of the currency.