Current financial year negative in terms of growth for IT sector, says Sundaram MF

“Our own channel checks indicate that a lot of decisions are being postponed on new projects, etc. This immigration issue further also puts a little bit of pressure there. The currency could always be a tailwind but it is always a trading idea. However, fundamentally the businesses are incrementally getting challenged. We do believe this year would be a negative year in terms of growth for these companies. So not defensive anymore and hence we are very negative on this space at this point in time,” he added.