There is an old saying on Dalal street. News and stock prices have an inverse relationship. When news is good, stock prices are bad and when news is bad, stock prices are good. This probably has played in the IT space more than anywhere else. For more than one year, too much negative has been said about the IT sector and the fact is that management of most of them have been showing lack of confidence in terms of rate of growth. But what happened on friday is a reflection that the street has been pessimistic beyond a reasonable level when it comes to IT stocks. It is time to look at each IT stock on an individual basis and their business model and strength and not with the same lens as the streets look at mega caps like TCS or Infy.
