The information technology (IT) sector reflects the growing global trend of companies scrutinising their technology spending in the wake of the COVID-19 pandemic. As a result, some investors are re-evaluating their positions in the IT sector and taking a more cautious approach.
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He said, "We have still probably not past the sharpest US recession quarter. So, you might see some more deceleration in US corporate spending, retail spending, etc. So maybe things get a little bit worse before they get better. So, I would be more cautious on US tech spending and by corollary the Indian IT services space."
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However, Vora is positive about the construction, defence, and "Make in India" sectors. The government's "Make in India" initiative is aimed at promoting domestic manufacturing and creating jobs. With the government's continued emphasis on these sectors, investors like Vora are optimistic about their growth potential.
He believes that the demand for real estate will increase, and stocks in this sector are not currently overvalued. This optimism regarding real estate is likely due to the gradual relaxation of COVID-19 restrictions and the potential for increased economic activity in the near future.
While some sectors may face challenges in the short term, others may present excellent investment opportunities. Ultimately, investors must consider multiple factors, including sector-specific trends, government policies, and economic conditions, to make informed decisions about their portfolios.
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First Published: Apr 26, 2023 3:20 PM IST
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