Market Commentary | Piyush Pandey On What Could Go Wrong & Where To Stay Safe

The discussion highlights a strong rebound in the IT sector, led by the Nifty IT index reclaiming key levels driven by consistent gains across major companies. Piyush Pandey, Senior Vice President and Equity Research Analyst at Centrum Broking, notes that Q2 has been positive for most IT firms, with growth seen in deal ramp-ups and reduced deal deferments. Operating margins have improved, especially in companies like Coforge, LTIMindtree and Persistent. He adds that large caps such as TCS, Infosys and HCL Tech are showing progress in AI-led deployments, while Persistent stands out in the mid-cap segment for AI capabilities. Pandey remains optimistic for H2, expecting stronger momentum and better valuations, while also maintaining a positive long-term view on telecom, particularly Bharti Airtel.