BNP Paribas analyst on when to start buying IT stocks

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With the Nifty IT index down 15% year-to-date, compared to a 3% drop in the broader Nifty, investors are wondering if now is the time to buy. Kumar Rakesh, India Analyst – Auto & IT at BNP Paribas, suggests waiting until April for a better entry point.

“Between now and April, we will see more consensus earnings cuts and a little bit of more moderation in terms of what the next year growth will look like,” Rakesh said. He expects IT companies to set conservative guidance, which could establish a bottom for the sector. This, he believes, will create a…



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BNP Paribas analyst on when to start buying IT stocks


With the Nifty IT index down 15% year-to-date, compared to a 3% drop in the broader Nifty, investors are wondering if now is the time to buy. Kumar Rakesh, India Analyst – Auto & IT at BNP Paribas, suggests waiting until April for a better entry point.

“Between now and April, we will see more consensus earnings cuts and a little bit of more moderation in terms of what the next year growth will look like,” Rakesh said. He expects IT companies to set conservative guidance, which could establish a bottom for the sector. This, he believes, will create a…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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