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Indian IT re-invented itself over most of FY18, says Dipen Sheth

Updated : April 23, 2018 11:45 AM IST

"Indian information technology stocks re-invented itself over most of FY18. Don’t see any reason to book profits in information technology stocks right now,” says Dipen Sheth, Head-Institutional Research at HDFC Securities.

He praised information technology industry for its most talented people, cleanest promoters and cleanest cash flows.

“On the non-banking financial companies (NBFCs) we should see a little bit of easing of,” Sheth said.

Talking on IndusInd Bank, he said, "On absolute goodness everything has gone right. Reasonably well diversified set of credit exposure, good at lending and don’t have asset quality issue."

Sheth said he is not worried about IndusInd Bank's divergence as several accounts saw improvement later.

“Cyient and Zensar would be amongst the cheapest of the midcap right now,” Sheth added.
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