Despite rupee appreciation, stay invested in IT and pharma.: Ajay Bagga

In a chat with ET Now, Market Expert Ajay Bagga shares his views on IT and pharma space.

ET Now: What is the view coming in on the overall IT space?

Ajay Bagga: We are seeing a very strong foreign interest with the block deal and QIP both going so successfully. You can expect a lot of FII and FDI interest. ASSOCHAM has put out $60 million kind of a number for this year. This might strengthen the rupee, but our analysis is the RBI will step in. We have to protect our exporters.

China on the other side which is trying to depreciate its currency. There is no easy answer to this. Probably, the RBI will balance between sterilising a lot of the dollar inflows and protecting a rupee level.

In this scenario, the global growth will help the IT and pharma case. Irrespective of slight appreciation in the rupee, we would say we need to keep invested in these two sectors as well.