Wait for earnings and Budget to identify attractive sectors for investment: Deepak Shenoy

economictimes.indiatimes.com:

«I would say at this point, wait. I know I think markets will react as they are, markets will just be markets and throw volatility at you just to excite you all the time. But I think at some point, we got to wait to get some reaction from the companies and see some numbers in the results,» says Deepak Shenoy, Founder, Capital Mind.

Just wanted to get your views on the IT sector that we are trying to get the conversation going with. What is the view?
Deepak Shenoy: So, I think we will wait for results. Basically, because the problem right now that you are seeing in the IT sector is that you are not really sure of the spends that are happening abroad. And a lot of places you are having issues, specifically in Japan and in Europe, you are having a different, more recessionary impulse there. America, you are having a different situation where spending has actually slowed down quite a bit and then they are not actually giving you big deals.

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So, even the IT companies in their last commentary said, listen, we are going to have to wait to see how things are. I think especially the US, you might see more activity after US elections because depending on which candidate comes, there will be a different regime for either outsourcing or visas and based on that I think a lot of more