Book profits in IT for now; good time to get into telecom: Kotak AMC
This is a good time to book some profits in IT stocks, said Harish Krishnan, Senior VP & Equity Fund Manager at Kotak AMC in an interview with CNBC-TV18.
This is a good time to book some profits in IT stocks, said Harish Krishnan, Senior VP & Equity Fund Manager at Kotak AMC in an interview with CNBC-TV18.
“It is a good time to book some profits in IT after this mammoth rally that we have seen, but from a slightly more medium-term perspective (we) continue to have positions in this space,” he said.
“This is a reasonably good time for telecom space given the fact that supply side has consolidated so well,” Krishnan said, adding, “..we are consuming more and more of the same services and at some point pricing will have to improve quite dramatically for the sector.”
On banking stocks, Krishnan said banks would be focusing on asset quality for now.
“Once the banks and lenders are sure of their asset quality, they will start focusing on credit growth and once that happens, market will get greater reassurance that growth is back for these lenders and that is where there will be a greater focus on a lot of these larger banks and NBFCs,” he said.
First Published: Oct 15, 2020 7:16 PM IST
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