This has led to a very positive capex cycle, likely to start private sector capex cycle. This very good profit growth also led to strong government capex because tax collections were buoyant. So, it was a very strong demand, supply, earnings and valuations cycle.
Earnings growth to stay robust at 14–16%; IT correction a buying opportunity: Vikas Khemani
India’s IT sector is poised for a comeback, with AI expected to boost, not hinder, growth. Vikas Khemani of Carnelian Asset Management sees excessive pessimism,