Book some profits in IT stocks: Deven Choksey

Deven Choksey, MD of KR Choksey Securities told CNBC-TV18, "In case of IT though I do believe that it remains a little bit more safer, but at the same time I hear some of the headwinds. As the currency has depreciated, the buyers on the other side are negotiating hard on the prices; they are not willing to pay the kind of prices. So the profit may not sustain going forward in subsequent quarters. Of course such kind of things would be validated company after company, not immediately across the sector."

He further added, "The point which I am trying to say is that the ownership issue right now could trouble the market. If investors across the global space decide that they want to quit the market because of the currency problems, they may probably start taking profits off the table and start unwinding the portfolio even in some of the safer names."

"Yesterday we have seen the kind of a fall in HDFC which have been up till now quite safer haven for most of the investors. There also the capitulation symptoms have started emerging. It could well emerge in the other areas as well. So it is safer to book some part of the profits, stay on cash. If market gives an opportunity at lower levels buy again. As such I think most of the IT companies are quoting at a valuation far more premium to the entire market, so one would like to take some profit home and sit on cash. That would be safe strategy for the time being," Choksey said.

Anda sedang membaca artikel tentang

Book some profits in IT stocks: Deven Choksey

Dengan url

http://sehatgayahidup.blogspot.com/2013/08/book-some-profits-in-it-stocks-deven.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Book some profits in IT stocks: Deven Choksey

namun jangan lupa untuk meletakkan link

Book some profits in IT stocks: Deven Choksey

sebagai sumbernya