Valuations for IT players at lower levels to forward EPS on PEG basis

Accenture's results points to sustained growth trajectory

The IT sector could be a hedge against the generally worsening macro situation for the Indian economy. It has a reverse correlation with the rupee. If the rupee weakens, the IT industry gains since the earnings are primarily in hard currencies while a large proportion of its expenditures are in rupees. The industry has also gained from the trend towards digitisation forced by work from home, the movement towards cloud-based services, dematerialisation among others.

Both the growth rates and guidance by companies have remained robust, despite the Ukraine war and the associated negative impact on global growth rates. There is