Midcap IT stocks will benefit from Rupee depreciation: Devesh Kumar, Country Head, CIMB India

In a chat with ET Now, Devesh Kumar, Country Head, CIMB India shares his view on Midcap IT stocks:


ET Now: If exporters are a clear long trade, how come midcap IT stocks have not participated or they have not seen serious strong price action in last 8-10 days?

Devesh Kumar: Yes, when there is a general crisis of confidence in management, it happens with a lag and at this point of time what is happening is, people are consolidating their portfolios rather than trying to introduce new stocks but if currency situation continues then probably people will start buying again. Midcap IT stocks may benefit from this but clearly the difference is going to widen and larger companies will continue to dominate.