IT Stocks A Buy for Bajaj Allianz Following Slump

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IT Stocks A Buy for Bajaj Allianz Following Slump

13th Jul, 2017

Recent underperformance of Indian software stocks, once considered market’s bellwether is a glaring buy signal for Bajaj Allianz Life Insurance Co. The S&P BSE Information Technology Index is the second- worst performer among 13 industry gauges compiled by BSE Ltd, weighed down by losses in names including Infosys and Tech Mahindra. In contrast, India’s benchmark index has surged to a record. “

We prefer software stocks among defensive sectors such as pharmaceuticals and IT, as they have entered a ‘buy zone’ in terms of valuations after the recent correction,” said Sampath Reddy, chief investment officer at Bajaj Allianz. Shares of IT companies have been hurt by uncertainty about US visas amid rising protectionist rhetoric that has forced some clients to delay decisions on outsourcing contracts. Investors have also been concerned about recent reports that founders at two of the top four providers were looking to sell their stakes. “Investors must wait sixnine months for a decision on software exporters,” said Prasanth Prabhakaran, CEO at Mumbai-based Yes Securities (India). Companies able to adapt more quickly to changes in the operating environment will be “good buys.” The BSE IT Index rose 3.% so far this week.

Source: Daily News & Analysis

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1. This is official blog of Bajaj Allianz Life Insurance Co. Ltd. This blog is for general information purposes only and does neither purport to be comprehensive or complete nor does it constitute financial, tax, legal or other professional advice on any aspect including Life Insurance, financial issues related to life insurance and/or any investment. Any information derived from this Blog shall NOT be considered for making any Insurance or investment related decisions in future. Nor does use of this blog create an Insurer- Policy Holder relationship between you (visitor) and Bajaj Allianz Life Insurance Co. Ltd. ("Bajaj Allianz")

2. The contents, news, information, art work, text, video, audio, or picture (collectively "materials") content on our Blog are protected by the copyrights laws. You may only access and use the material for personal or educational purposes. Any alteration/modification either in whole or in part or usage of the materials for other than educational and personal purposes violates the copyrights laws. You shall not modify/alter any material on the Blog for any purpose without Bajaj Allianz's written consent.

3. This Blog is protected by intellectual property rights and is the exclusive property of the Company. Any material that it contains, including, but not limited to, texts, data, graphics, pictures, sounds, videos, logos, icons or html code is protected under intellectual property law and remains the Company's or third party's property. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties.

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Disclaimer

1. This is official blog of Bajaj Allianz Life Insurance Co. Ltd. This blog is for general information purposes only and does neither purport to be comprehensive or complete nor does it constitute financial, tax, legal or other professional advice on any aspect including Life Insurance, financial issues related to life insurance and/or any investment. Any information derived from this Blog shall NOT be considered for making any Insurance or investment related decisions in future. Nor does use of this blog create an Insurer- Policy Holder relationship between you (visitor) and Bajaj Allianz Life Insurance Co. Ltd. (“Bajaj Allianz”) 2. The contents, news, information, art work, text, video, audio, or picture (collectively "materials") content on our Blog are protected by the copyrights laws. You may only access and use the material for personal or educational purposes. Any alteration/modification either in whole or in part or usage of the materials for other than educational and personal purposes violates the copyrights laws. You shall not modify/alter any material on the Blog for any purpose without Bajaj Allianz’s written consent. 3. This Blog is protected by intellectual property rights and is the exclusive property of the Company. Any material that it contains, including, but not limited to, texts, data, graphics, pictures, sounds, videos, logos, icons or html code is protected under intellectual property law and remains the Company’s or third party’s property. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. 4. The contents of this Site do not in any way constitute investment advice and should not be construed as an offer to sell, a solicitation to buy, or an endorsement or recommendation of any company or security. Bajaj Allianz disclaims all responsibilities for investment decisions based on the content of this Blog or the dissemination or distribution of this Communication to a third party. Users are responsible for seeking the advice of professionals, as appropriate, regarding the information, opinions, advice or content available on this Blog. We make no express or implied warranties or representations on the comments, opinions, articles, views given in this Website/Blog and Bajaj Allianz disclaims all warranties, whether express, implied, or statutory, including but not limited to warranties as to accuracy, reliability, usefulness, completeness, merchantability, or fitness of information for any particular purpose, non-infringement and any damages ensuing thereby. In no event shall Bajaj Allianz (including its group company, affiliates, promoters) or its founders, directors, officers, agents, employees or content providers be liable for any direct, indirect, special, incidental, exemplary, punitive or consequential damages, whether or not advised of the possibility of such damages including without limitation, those pertaining to lost profits to any Bajaj Allianz subscriber, participant, customer, or other person or entity for furnishing of information or arising from the contents/use of this Blog, Bajaj Allianz shall have no responsibility for any damage to User’s computer system or loss of data that results from the download of any content, materials, information from the Site. 5. The opinions expressed at or through this blog are the opinions of the individual author and may not reflect the opinions of the Bajaj Allianz. 6. In addition, we make no representation that the operation of this site/Blog will be uninterrupted or error free, and we will not be liable for the consequences of any interruptions or errors. This site and its information, contents, materials, products and services are provided on “as is” and “as available” basis. 7. This blog may include market Analysis. All ideas, opinions and/or forecasts, expressed or implied herein, are for information purpose only and should not be construed as a recommendation to invest, trade and/or speculate in the markets. Any investments, trades and/ or speculations made in the light of the ideas, opinions and/or forecasts expressed or implied, are committed at your own risk, financial or otherwise. You understand and agree that your use and access of this site is at your own risk.

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IT Stocks A Buy for Bajaj Allianz Following Slump

IT Stocks A Buy for Bajaj Allianz Following Slump

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