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Are IT stocks a good contrarian bet from a one-year perspective?

Despite the ongoing selloff and the global macroeconomic stress, analysts say that the IT sector still remains a preferred bet from a long-term perspective

Topics
IT stocks | Nifty IT | Nifty

Harshita Singh  |  New Delhi 



IT sector, IT companies, Deals
In the first quarter (Q1) of 2022-23 (FY23), the IT industry’s performance was largely below expectations, with shrinking profit margins and all-time high attrition levels

The IT has been one of the worst-performing indices on the bourses this calendar year. Rising concerns of a potential global recession, which investors fear can dampen demand for export-facing domestic information technology (IT) giants, have sent the index down over 30 per cent on a year-to-date basis.

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First Published: Wed, September 28 2022. 12:30 IST

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