IT will do extremely well: Fortress Financial Services
Upendra Kulkarni, executive director, Fortress Financial Services, in a chat with ET Now says that IT as an overall sector will do extremely well.
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| Does rate hike strengthen the case as far as IT is concerned?
As far as IT is concerned, fundamentally I believe that the companies will do extremely well because even if West, which is a major customer, tries to do a cost cutting, they will have to resort the outsourcing, leave aside the popular bragging by the politicians. Second issue is of course the currency movement. I believe that long term, though I am not a currency expert, I believe rupee might strengthen over the period but short term trend is very clear in favour of dollar. So IT as an overall sector will do extremely well.
As far as IT is concerned, fundamentally I believe that the companies will do extremely well because even if West, which is a major customer, tries to do a cost cutting, they will have to resort the outsourcing, leave aside the popular bragging by the politicians. Second issue is of course the currency movement. I believe that long term, though I am not a currency expert, I believe rupee might strengthen over the period but short term trend is very clear in favour of dollar. So IT as an overall sector will do extremely well.
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