Thursday, 3 September 2009

Largecap IT stks to trade sideways for 6-9 mths: JPMorgan

There have been a lot of divergent takes in the information technology space. Many investment banks seem to think the worst is over and there would be a rapid acceleration of business traction from here. Some others are not quite so convinced at these valuation levels.

However, Manoj Singla of JPMorgan supports the first camp. He sees improvement in fundamentals, which would accelerate business moving to the end of this year. He further says technology stocks have discounted a lot of good news. However, he added, “We will probably be in a sideways trading zone for most of the large caps IT stocks in the next 6-9 months.”

Source: Moneycontrol

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