Investor buying happening in midcap IT space: Seshadri Bharathan

Seshadri Bharathan, MD & CEO, KSEMA Fincon Ltd, in a chat with ET Now talks about the IT space.

Zylog Systems, Glodyne Technoserve, Kale Consultancy, KPIT Cummins a lot of these small cap IT stocks have done exceptionally well in trade today. What’s happening here?

Definitely yes, I was speaking to couple of IT management in last one week and the sense that we are getting is that most of the people who went to you as on consultancy visa there is clearly a demand for people who specialise in a particular field in IT and the recruitment for consultants is on a very high spree and companies are looking forward to recruit as many people as possible for onshore and offshore business.

We are seeing most of the midcap IT companies doing well and we expect that going forward this would translate into both business for top line as well as bottom line for most of the IT companies. Definitely we are seeing investor buying happening in midcap IT space.