Currently underweight on IT: Sandip Sabharwal, Prabhudas Lilladher

In a chat with ET Now, Sandip Sabharwal, CEO-PMS, Prabhudas Lilladher, shares his views on IT sector.

ET Now: Your call on IT and HCL Tech?

Sandip Sabharwal: The IT results have been divergent unlike other sectors, so this divergence is clearly reflected in the way the stocks have performed. However, what we saw post TCS results was that the stock rallied but the overall macro then came into play and led the stock down. At this stage, especially for IT companies, the overall macro is more important than companies' specific events. So, there might be some shift from one stock to the other and we are currently underweight on IT.