Wait and watch for IT stocks: Sandeep Bharadwaj, Derivium Tradition

Sandeep Bharadwaj, Head India Equities, Derivium Tradition, in a chat with ET Now, gives his call on IT space


What would be your call on IT given the downgrades that we are seeing on the stocks, would you play contrarian there, what is the view?

No, I would not be that brave because lot is linked to the western economies worth Europe and the US. US and European economies are already in a recession and recession would be a fairly prolonged one. So all the incremental growth that has come in for the IT companies will be under a lot of stress. So I would not be that brave to start buying this. I would rather wait and see how the European and US economies pan out in the near future.