HDFC Securities Prefers Consumer Discretionary Over IT Sector Amid Valuation Concerns

Unmesh Sharma, the Head of Institutional Equities at HDFC Securities, has expressed doubt about the IT sector, stating that it is not a strong buy at the moment.

He mentioned that the Nifty IT index seems to be fully valued, indicating limited potential for re-rating, with expected returns closely aligning with delivered earnings.

In contrast, HDFC Securities holds a more positive view on the consumer discretionary sector compared to staples.

Sharma emphasized that consumer durables are experiencing strong growth, which is expected to continue due to favorable near-term growth drivers.

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