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Bajaj Allianz Life Insurance positive on IT service sector

Updated : December 18, 2018 18:30:36 IST

In an interview to CNBC-TV18, Sampath Reddy,  chief investment officer, Bajaj Allianz Life Insurance, shared his reading and outlook on specific stocks and sectors.

On IT stocks, Reddy said, "We have been relatively positive on IT services sector largely because of attractive valuations. They are good quality businesses available at attractive valuations. IT services companies generate tremendous amount of cash flows, their return on equity is very good and also the valuations have been attractive."

The currency off-late may be volatile but if you look back and see currency what it was from 6 months back to now, it is still a huge boost to the Indian IT services companies, Reddy said.

"We are not expecting the currency to go back to what it was about 6 months ago, " Reddy said.

On markets, he said 2019 will be a lot better year. Indian macro is now turning certainly positive, crude which was a big dampener for us is now retreating, so that is a big positive for us, Reddy added.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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