Madcap IT stocks looking positive: Satish Betadpur

ET Now caught up with Satish Betadpur, CFA, Global Research Director, Independent International Investment Research PLC, to get his views on the madcap IT stocks.

A lot of midcap IT stocks are excited, for example, Patni Computers, Kale Consultancy and even the pseudo IT stocks like Financial Technologies and Moserbaer to an extent because of the solar play. What is happening there?

It is just a valuation catch-up game at this point and there is a bit of move towards defensives at this point because we have had a good run in the market and now some midcap IT counters are trying to catch up into that space. So, that is basically what is happening around there.