IT will continue to do well because of rupee: Sethuram Iyer

Sethuram Iyer, Chief Investment Officer, Daiwa Asset Management, talks to ET Now on banking stocks.

What do you make of the results season thus far when it comes to some of the IT majors?

IT has been absolutely in line with market expectations. We have seen numbers, which were buoyed up with the rupee devaluation and the expectations of the future that has not been very great. They have been clouded and that has been the tendency over the last six months to nine months.

IT will continue to do well as long as rupee gives them the benefit. One needs to wait and watch how the improvement in the business is going to pan out because one does believe that if the US is on recovery path, order flows will have to start sooner rather than later.