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Current financial year negative in terms of growth for IT sector, says Sundaram MF

Updated : April 23, 2020 03:27 PM IST

S Krishna Kumar, CIO-Equity at Sundaram Mutual Fund, shared his views and outlook on market, especially IT sector.

Kumar is 'underweight' on IT sector as "we are seeing that the companies are not able to talk about the current year’s growth guidance, etc.".

“Our own channel checks indicate that a lot of decisions are being postponed on new projects, etc. This immigration issue further also puts a little bit of pressure there. The currency could always be a tailwind but it is always a trading idea. However, fundamentally the businesses are incrementally getting challenged. We do believe this year would be a negative year in terms of growth for these companies. So not defensive anymore and hence we are very negative on this space at this point in time,” he added.
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