Key Points
George Thomas, Associate Fund Manager, Quantum AMC, says in the current setting, from a global perspective, India continues to be in a favourable position..
But recently there have been very strong domestic flows and the underlying economy is doing reasonably okay..
If you look at the financials, the valuation bands are somewhere around their long-term historic median in most of the names which we hold in our portfolio and that financial cycle continues to be fairly favourable..
Typically, what happens is if the macro environment deteriorates substantially, the Indian IT service players get a reasonable chunk of the business in terms of cost optimisation deals or more outsourcing to control the cost of those corporate clients..
But from a valuation perspective, it is not a very favourable situation but with respect to broader markets, it is quite attractive and one can consider building positions in a staggered manner..
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